1-bedroom flat · IM2 4LL
Sold STCListed 226 days
Opportunity summary
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About
Option to be sold with vacant possession or with the tenant in situ. If vacant possession is required, the tenant is to be given 2 months' notice.
Accommodation Ground Floor (Level 2) Communal Entrance Hallway Apartment 41 Private Entrance Hallway (approx. 9'11 x 3'6) Storage cupboard housing the Megaflo tank.
Open Plan Lounge/Kitchen/Diner (approx. 19'6 max x 11'3) Set of uPVC double glazed sliding doors with a uPVC double glazed window to one side, opening out onto the private terrace area.
Private Terrace (approx. 18'7 x 4'9) Bedroom (approx. 12'3 x 10'2) uPVC double glazed window overlooking the terrace. Bathroom (approx.
7'2 x 6'8) Fitted with a modern three piece suite comprising of a panel bath tub with a shower attachment over and splash screen, wash hand basin and W.C. Floor to ceiling length mirror to one wall.
Chrome heated towel rail. Discrete over sink storage cupboard with fitted glass shelving. Extractor fan. Ceiling downlighters. Tiled splashbacks. Tiled flooring.
Outside Secure underground allocated parking space for one vehicle, number 55. 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 £1,645.00 for the financial year 1st January to 31st December 2025.
Ground rent of £389.58 for the period 12th November 2024 to 11th November 2025. Tenancy Lease Details Option to be sold with vacant possession or with the tenant in situ.
If vacant possession is required, the tenant is to be given 2 months' notice. Information in regards to the current rental income can be provided upon request.
Services All main services are connected. Electric central heating. uPVC double glazed throughout.
Rates Isle of Man Government Treasury: £431.07 Douglas City Council: £457.52 Total: £888.59 (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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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.
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FAQ
About Apt. 41 Spectrum Apartments, Central Promenade, Douglas, IM2 4LL
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