2-bedroom flat · BL9 6DN
For saleListed 88 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Offered for sale at £120,000, this two bedroom apartment at Eden Court, 10 Scholars Way, Bury, sits behind an excellent EPC rating of B and comes with a tenant already in place and fully up to date on rent, a genuine turnkey buy-to-let with income from day one.
The apartment benefits from a long 979-year lease, removing any concerns over lease length that can affect mortgageability or resale, alongside a modest ground rent of £175 per annum and a service charge of £1,748.48 per annum.
The current passing rent is £800 pcm (£9,600 per annum), reflecting an 8.00% gross yield at the asking price.
Comparable lettings within the same development support potential rental income of up to £950 pcm (£11,400 per annum), which would take the gross yield to 9.50%, or a net yield of 7.90% after ground rent and service charge.
This is a rare chance to acquire an established, income-producing asset in a well-regarded development, backed by comparable sales and rental evidence from within Eden Court itself.
Early viewing is strongly recommended.
Key Facts: Two bedroom apartment Leasehold - 979 years remaining Ground rent: £175 per annum Service charge: £1,748.48 per annum EPC rating: B Tenant in situ, rent up to date, £800 pcm Potential rent up to £950 pcm
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.
Area
Agent & docs
FAQ
About 10, Scholars Way, Brook Street, Bury
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