Studio flat · IM2 4LL
Sold STCListed 278 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Accommodation Ground Floor Communal Entrance Hallway Apartment 27 Private Entrance Hallway (approx. 11'7 x 3'9): Storage cupboard Utility Cupboard (approx.
5'5 x 2'4): Houses the Megaflo hot water tank, washing machine and fuse box. Studio Area (Lounge/Bedroom) (approx. 14'9 max x 9'7) Kitchen (approx. 7'1 x 5'4) Bathroom (approx.
7'2 x 4'8) Outside Secure underground allocated parking space for one vehicle, number 160. Well maintained central communal courtyard area. Tenure Leasehold. Remainder of a 999 year lease.
Management Company There is an active management company in place with the current charge set at £1,295.00 Per Annum for the financial year 1st January 2026 to 31st December 2026.
Ground rent charge of £292.18 for the financial year 12th November 2025 to 11th November 2026. Rates Isle of Man Treasury: £340.32 Douglas City Council: £361.20 Total: £701.52 (2025/26).
Directions Travelling north along Douglas Promenade in the direction of Onchan continue through the Broadway traffic lights.
Continue on for approximately quarter of a mile where Spectrum Apartments can found on the left hand side just after the Empress Hotel.
Value & comps
No previous sales on record.
Returns
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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
Agent & docs
FAQ
About Apt. 27 Spectrum Apartments, Central Promenade, Douglas, IM2 4LL
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