Apartment , Carolgate House, Retford
- PROPERTY TYPE
Apartment
- BEDROOMS
1
- BATHROOMS
1
- SIZE
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Description
Key Features:
- Asking Price: £75,000 High Net Return: Projected 8.4% net yield based on an AST rental value of £650/month
- Versatile Income Strategy: Currently operating as a short-term let (STL) with strong historical revenue, or ready to convert to a long-term AST
- Long Leasehold: Long term lease (approx. 246 years remaining on a 250-year lease)
- Low Outgoings: Peppercorn ground rent (£0) with an annual service charge of £805.73
- Prime Town-Centre Location: Situated in the heart of Retford, moments from shops, cafes, bus station (0.2 mi), and rail links (0.7 mi)
The Opportunity:
An excellent opportunity for investors to acquire a modern, well-presented one-bedroom second-floor apartment situated in Carolgate House, right in the heart of central Retford. Offered at an accessible price point of £75,000, this self-contained apartment presents an ideal entry point or portfolio addition with immediate rental revenue potential.
Investment Summary & Financials:
- Asking Price: £75,000
- Predicted AST Rental Income: £650 per calendar month (£7,800 per annum)
- Projected Net Yield: 8.4% (calculated based on £650/mo AST rental income after ground rent & service charge deductions)
- Historical STL Revenue: £14,100+ gross total revenue generated while operating on short-term let platforms
- Tenure: Leasehold (250-year lease from ~2022)
- Ground Rent: Peppercorn (£0/year)
- Service Charge: £805.73 per annum
The Property:
Located on the second floor of a small, exclusive residential development of just 8 apartments, Apartment 7 is a bright, modern, and low-maintenance unit.
- Living/Kitchen Area: Open-plan lounge and dining space featuring fully integrated kitchen units, oven, ceramic hob, and fridge freezer.
- Bedroom: Well-proportioned single double bedroom fitted with contemporary carpeting.
- Bathroom: Stylish suite with self-contained shower cubicle and contemporary finishes.
Location & Amenities:
Carolgate House offers unbeatable access to Retford's local amenities, dining, and transport links:
- Transport Links: Retford Bus Station is just 0.2 miles away, and Retford Train Station is 0.7 miles away (offering direct East Coast Mainline services to London King's Cross in under 1.5 hours).
- Major Employers: Ideal for commuters and local workers, with Wilko's main distribution hub and B&Q's Northern Distribution Centre serving as major regional employers nearby.
- Local Amenities: Surrounded by local retail, cafes, pubs, and supermarkets on your doorstep.
Viewing & Enquiries:
Contact Residential Estates today to arrange a viewing or to request full financial information and floor plans.
Tenure: Leasehold (250 years)
Ground Rent: £0 per year
Service Charge: £805.73 per year
Brochures
Brochure- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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About Residential Estates, Chester
First FL. Kinnerton House Bell Meadow Business Park Park Lane Pulford CH4 9EP
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Visit our security centre to find out moreDisclaimer - Property reference 7Carolgate. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Residential Estates, Chester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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