Below Market Value Property FOR SALE in Cross Street, Winckley House, Preston, Lancashire

Property Description

Below-Market 1-Bed Investment Apartment in Winckley House, Preston – Tenanted & Income Producing
An attractive opportunity to acquire a tenanted one-bedroom apartment in the sought-after Winckley House development, positioned in one of Preston city centre’s most established residential pockets.
Located on Cross Street, moments from Winckley Square and Preston station, the apartment is already producing £725 pcm, making it a compelling proposition for investors seeking immediate income with a relatively modest entry level. The flat is understood to be fully furnished and forms part of a modern apartment scheme popular with city-centre tenants.
What makes this opportunity stand out is the pricing. At a fixed £70,000 plus fees, the asset sits materially below current visible asking prices for comparable one-bedroom apartments within the same building, several of which are being marketed around the mid-£90,000s to £100,000 range. That positions this as a potentially strong value-acquisition, subject of course to legal review, tenancy verification and inspection.
The immediate locality is one of the better parts of the Preston centre market, with the character of Winckley Square, walkability to the station, and access to nearby parkland helping support continued tenant demand. For investors targeting the North West, it offers the combination of affordable capital value, live income and a stronger-than-average central setting.
Area or size of property
1-bedroom apartment
Comparable one-bedroom apartments in Winckley House have recently been marketed at around 430–473 sq ft, so this is likely to be a compact city apartment, though the exact size should be confirmed from the lease pack or floorplan.
For sale or rent
For sale
Price
£70,000 plus fees
Key features
Tenanted one-bedroom apartment
Fully furnished
Current income £725 pcm / £8,700 pa
Approx. gross yield 12.4% at asking price
Approx. basic net yield 9.7% before other costs
Leasehold: 150 years from 2019
Ground rent: £457 pa
Service charge: £1,429 pa
Prime central Preston / Winckley Square location
Location description
Winckley House sits on Cross Street in the Winckley Square quarter of Preston, one of the city centre’s most attractive residential micro-locations. The area benefits from a more historic and established setting than many standard PR1 apartment schemes, while remaining within easy reach of Preston railway station, shops, restaurants and city-centre employment. Nearby Avenham and Miller Parks further strengthen tenant appeal.
Investment angle
From an investor perspective, this is the key point: based on the figures supplied, the flat offers a strong day-one income return and appears to be priced below currently advertised same-building comparables. That does not automatically make it a bargain, but it does make it worth serious due diligence.
The main positives are:
immediate rental income
established apartment block
strong central Preston location
pricing below visible same-building asking evidence
The key due-diligence points are:
confirm the exact flat number and floorplan
verify tenancy status, AST terms and payment history
review service-charge accounts and any major works
check lender acceptability of the lease and block
confirm EWS1 / building compliance position if relevant
inspect condition, furniture quality and any repair backlog.
For further information, tenancy details, or to arrange a viewing, please contact Fraser Bond.
For investors seeking a low-entry, income-producing city-centre apartment with apparent pricing upside, this is the sort of opportunity that merits immediate legal and valuation review.