City centre studio flat in purpose-built block, ground floor overlooking the garden courtyard. A first step on the housing ladder in a place nobody ever expects to find one. That's why I don't market it through local estate agents. Built by an owner's co-operative in 1982 and now surrounded by many other blocks of luxury flats, Montague Court is in a prime location.

The flat has been a rental investment for over 20 years, and will be offered for sale only until a new tenant is found. It could command a rent of £400 p.c.m. out of which the block management company takes £60, so investment income after expenses is 3% or less on the assessed value of £120,000. Clearly we'd be better off with cash in the bank.

For details see the rental advert at www.seashell.ontheweb.nu and click through to BROADMEAD. No offers from buy-to-let speculators or investment agents will be considered. If you're single, work in Bristol Centre or Clifton and want a starter home then this is a unique opportunity. Also its value is expected to rise when the Broadmead and Stokes Croft renovation schemes are finished. Lease is 1000 years from 1982.

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