A limited company has benefits, as it may not effect your personal tax bracket. You have other benefits too, when the property is owned by a limited company.
However if you have only one property, it does depend on the income from that property, to calculate if the admin cost of a limited company makes it viable.
A limited company is the way to do it. True because you have one property will it be worth it setting up a company for just one property. The cost of the company etc may not be worth the hassle. unless you were thinking of buying more property?