Studio flat · CO1 2XT
For saleListed 73 days
Opportunity summary
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About
INVESTMENT PURCHASE WITH TENANT IN SITU...A purpose built first floor STUDIO flat conveniently situated for the city centre, transport links, castle park and leisure centre.
CURRENT TENANT PAYING £650.00 PCM. The accommodation with approximate room sizes comprises:- COMMUNAL ENTRANCE HALL Via communal entrance door. Stairs to first floor.
LIVING ROOM/BEDROOM 15' 8" x 12' 4" (4.78m x 3.76m) Window, archway to: KITCHEN 8' 9" x 5' 11" (2.67m x 1.8m) Window, stainless steel sink set into work surface, base and eye level units, space for domestic appliances.
BATHROOM 6' 5" x 6' 5" (1.96m x 1.96m) Bath, WC and wash basin ADDITIONAL INFORMATION Council tax band : A. Local authority : Colchester City Council. Energy rating : C.
We are advised of the following: Lease : 999 years from 1 January 1980. Service charge : £1,199.95 (1 January 2026 to 31 December 2026). Ground rent : N/A. Tenant in situ : since July 2019.
Current rent : £650.00 pcm, last reviewed August 2025 with a £40.00 increase. Leasehold properties : ground rents and service/maintenance charges may fluctuate.
Precise figures and lease duration must be obtained from the sellers legal representative.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Nicholsons Grove, Colchester
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