# 1 bedroom apartment for sale (PL4 0DX)

## Property Details

| Key | Value |
|-----|-------|
| Address | FLAT 24, 2 LOCKYERS QUAY, PLYMOUTH, CITY OF PLYMOUTH PL4 0DX |
| Price | £105,000 |
| Bedrooms | 1 |
| Bathrooms | 1 |
| Council tax | A |
| Last sold | £102,000 Mar 2023 |

## Description

Lang Town & Country are delighted to offer this well presented purpose built third floor apartment in "Penrose House"

The area has a variety of benefits with nearby restaurants, the acclaimed national marine aquarium and a foot bridge providing access to the historical Barbican and City Centre. Sutton Harbour is also a moments walk away.

The property can be accessed via a telephone entry system and a lift service provides access to all elevated floors. The property comprises of: an entrance hall with an open plan lounge/diner/kitchen area, bedroom and a bathroom. This well presented apartment has double glazing and gas central heating.

Residents are able to make use of the Bicycle storage and waste disposal facilities which are available on the ground floor of the building.  

**This apartment can be purchased on a shared ownership basis on a 50% ownership with Soverign Housing Group.**

**Agents** **Note** We are advised that the property has an EWS1 form readily available.

We would highly encourage an internal inspection of this most charming apartment which provides buyers a fantastic opportunity to get onto the property market.  

**THIRD** **FLOOR**  

**ENTRANCE** **HALL**  

**LOUNGE/DINER/KITCHEN** **20' 4" x 10' 5" (6.20m x 3.18m)**  

**BEDROOM** **13' 3" x 9' 1" (4.06m x 2.79m)**  

**BATHROOM** **7' 4" x 6' 7" (2.26m x 2.01m)**  

**LEASE** **INFORMATION** We understand the apartment is held on Lease with 84 years remaining and subject to a maintenance charge of approximately £1219.80 per year. The above information is provided in good faith although we would recommend that prospective purchasers consult their own solicitor for formal verification. 

**PROPERTY** **INFORMATION** Tenure: Leasehold

Local Authority: Plymouth City Council

Council Tax: Band A

EPC Rating: B

Postcode code for sat nav: PL4 0DX 

## Property Photos

- ![Photo](/listings/photos/125939282/726612)
- ![Photo](/listings/photos/125939282/726613)
- ![Photo](/listings/photos/125939282/726615)
- ![Photo](/listings/photos/125939282/726617)
- ![Photo](/listings/photos/125939282/726619)
- ![Photo](/listings/photos/125939282/726621)
- ![Photo](/listings/photos/125939282/726622)

## Floorplans

- ![Floorplan 1](/listings/photos/125939282/726623) - Floorplan 1

## EPC Graphs

- ![EPC 1](/listings/photos/125939282/726624) - EPC 1

## Sales History

*Recorded sales for this property. Data from Land Registry Price Paid.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 2 FLAT 24 LOCKYERS QUAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0DX | £102,000 | 31/03/2023 | Flat |

## Sold Comparables

*Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 2C TEATS HILL FLATS, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LX | £125,000 | 05/02/2025 | Flat |
| 2E TEATS HILL FLATS, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LX | £150,000 | 15/12/2023 | Flat |
| 9 FLAT 23 PARSONAGE WAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LY | £250,000 | 08/12/2023 | Flat |
| QUEEN ANNE'S QUAY, 9 FLAT 11 PARSONAGE WAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LY | £320,000 | 01/12/2023 | Flat |
| 9 FLAT 5 PARSONAGE WAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LY | £375,000 | 24/07/2023 | Flat |
| 2 FLAT 31 LOCKYERS QUAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0DX | £150,000 | 30/11/2022 | Flat |
| 2 FLAT 20 LOCKYERS QUAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0DX | £160,000 | 30/09/2022 | Flat |
| 22 FLAT 6 PARSONAGE WAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LY | £190,000 | 22/06/2022 | Flat |
| 2 FLAT 14 LOCKYERS QUAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0DX | £62,500 | 27/05/2022 | Flat |
| TEATS HILL FLATS FLAT 3B, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LX | £135,000 | 28/04/2022 | Flat |
| 2 FLAT 18 LOCKYERS QUAY, PLYMOUTH, CITY OF PLYMOUTH, PL4 0DX | £67,500 | 01/04/2022 | Flat |
| 29 ARTILLERY PLACE, PLYMOUTH, CITY OF PLYMOUTH, PL4 0LU | £192,000 | 18/10/2021 | Flat |

**Area average:** £181,417 (12 sales)

## Price vs local average

*Outcode + property type (HousePrices, last 2 years).*

- **Local average:** £131,693 (65 Flat, PL4, 2024–2026)
- **Deviation:** -20.3%

## Rental Range

*ONS Price Index of Private Rents (Plymouth). Low / Realistic / Optimistic = conservative / average / best case.*

- **Low:** £895/mo
- **Realistic:** £994/mo
- **Optimistic:** £1,093/mo

## Rental Comparables

*Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.*

| Title | Rent | Beds | Distance | As seen on |
|------|------|------|------|------|
| 1 Bed Flat, St Judes Street, PL4 | £900/mo | 1 | 0.25 miles | OpenRent |
| 1 Bed Flat, The Barbican, PL1 | £950/mo | 1 | 0.32 miles | OpenRent |
| Studio Flat, Compass House, PL4 | £750/mo | 1 | 0.33 miles | OpenRent |
| 1 Bed Flat, Citadel Ope, PL1 | £950/mo | 1 | 0.41 miles | OpenRent |
| Studio Flat, Notte Street, PL1 | £585/mo | 1 | 0.69 miles | OpenRent |
| 1 Bed Flat, Notte Street, PL1 | £2,195/mo | 1 | 0.76 miles | OpenRent |

**Average rent: £1,055/mo (6 listings)**

## 1% Rule

- **Rent ratio:** 0.88% (okay)
- **Max investor price (0.8%):** £115,625
- **Target investor price (1%):** £92,500

*Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.*

## Rent-driven metrics

*Based on OpenRent comparables (median £925/mo).*

- **Gross yield:** 10.6%
- **Cost-to-rent:** 9.5×
- **Monthly cashflow:** £394/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 15.5%

*Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).*

## Capital growth trend

*Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.*

- **5y growth:** 5%
- **10y growth:** 12.3%

## House Price Index (HM Land Registry)

*Official index for City of Plymouth; Flats and maisonettes series; as of March 2026.*

- **1y growth (index):** -1.4%
- **5y growth (index):** 11.7%
- **10y growth (index):** 29.6%

## Flood risk

- **Zone:** 1
- **Risk:** Low
- **Source:** Job (default Low)

[Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)