Block of flats for sale in Hereward Street, Lincoln LN1

Investment Consideration:
Gross Initial Yield: 9.95%
Rental Income: £30,345 p.a.
VAT is not applicable to this property
Comprises 6-bed HMO with communal kitchen/dining, living room and 3 communal bathrooms
Situated within 25 minute walk from the University of Lincoln, a 13 minute walk from Bishop Grosseteste University and a 15 minute walk from Lincoln’s City Centre.

Property Description:
Comprises mid-terrace 6-bedroom HMO, arranged as a ground floor kitchen/dining, 1 bedroom and communal bathroom. First floor provides 2 bedrooms with 2 communal bathrooms and second floor provides 2 bedrooms. The basement provides living room and 1 bedroom.
Ground Floor: 29 sq m (312 sq ft)
First Floor: 34 sq m (366 sq ft)
Second Floor: 28 sq m (301 sq ft)
Basement: 25 sq m (269 sq ft)
Total gia: 116 sq m (1,248 sq ft)

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

Tenancy:
The property is let on AST to Individuals for a term of 51 Weeks from 2nd August 2024 at agreed rent of £30,345 p.a. Deposit held of £1,800. Vendor will top-up rent so the buyer receives the equivalent of £30,345 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.