Block of flats for sale in Hereward Street, Lincoln LN1

Investment Consideration:
Gross Initial Yield: 8.47%
Rental Income: £23,715 p.a.
VAT is not applicable to this property
Comprises 5-bed HMO with communal kitchen, dining room, cinema room and 2 bathrooms
Situated within 25 minute walk from the University of Lincoln, a 13 minute walk from Bishop Grosseteste University and a 30 minute walk from the County Hospital.

Property Description:
Comprises mid-terrace 5-bedroom HMO, arranged as a ground floor kitchen with separate dining room and 1 bedroom. First floor provides 2 bedrooms with communal bathroom and second floor provides 2 bedrooms. The basement provides cinema room and communal bathroom.
Ground Floor: 34 sq m (366 sq ft)
First Floor: 25 sq m (269 sq ft)
Second Floor: 19 sq m (204 sq ft)
Basement: 26 sq m (280 sq ft)
Total gia: 104 sq m (1,119 sq ft)

HMO Licensed Property (C4 use class) Reference - 2018/1327/cle.

Tenancy:
The property is at present let to Individuals for a term of 51 Weeks from 27th August 2024 at an agreed rent of £23,715 p.a. Deposit held of £1,200. Vendor will top up rent, so the buyer receives the equivalent to £23,715 p.a. From completion.

Location:
The property is located on Hereward Street within a residential area just a 15 minute walk from Lincoln’s City Centre, 25 minute walk from the University of Lincoln, a 13 minute walk from Bishop Grosseteste University and a 30 minute walk from the County Hospital. The city’s train station is located just a 25 minute walk from the property. The station offers regular connections throughout the country, with regular services running to Newark Northgate, Edinburgh and London Kings Cross.