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Flat in posh area of Southborugh, near Tunbridge Wells, on the market for £30,000

Fancy getting your hands on a flat in Tunbridge Wells for £30,000?

The one-bed ground floor property in Park Road, Southborough, has a double bedroom, newly fitted kitchen and bathroom, lounge and communal garden.

Semi-detached homes in the road go for more than £800,000 and the property has been valued at £120,000. So, what's the catch?

The flat in Southborough
The flat in Southborough

Well, you won't be able to live there. At least not yet.

The property is on the market through Guy Charrison as a Life Tenancy Investment, meaning the occupant, a 70-year-old woman, will live there until she passes away or moves into a retirement home.

During that time she won't pay rent but will pay for all bills, tax and maintenance and the one condition is the investor must allow her to live peacefully in the property.

The one-bed flat has a communal garden
The one-bed flat has a communal garden

For this reason only external viewings can be arranged.

Once the property is vacated the investor is entitled to do what they wish with it.

The newly fitted bathroom
The newly fitted bathroom

The life tenant has retained half of the total value of the property meaning they are entitled to 50% of the proceeds of any future sale.

This means the value of the investment is £60,000.

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