House For Sale £430,000
Summary
The property is comprised of 5 studio apartments and a 4 bedroom en-suite apartment. The building is fully let to students until August 2023 generating a £43,200 gross rental return. This represents a 10.04% gross return based on the guide price. The projected rental return for the 23/24 academic year is £52,275.
The property is fully furnished to a high standard and requires no additional work to be relet in the coming years. Furthermore, the property benefits from a private car park with 6 spaces, 1 for each studio/flat.
The Area - Friars Lane is an attractive area for investment student properties due to its close proximity to the centre of Lincoln with its plethora of pubs, clubs and entertainment venues in addition to being a short walk from the university's brayford campus.
The property also benefits from high EPC ratings which helps to reduce operating costs in the short, medium and long term.
For further information or to arrange a viewing please get in touch.
Description
Each studio and the apartment has access to a utility room located to the rear of the property which houses 2 washing machines, 2 tumble dryers and a water heater.
Studio 1 - 2.86m x 5.33
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 2 - 2.87m x 5.34
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 3 - 2.86m x 5.4
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 4 - 2.83 x 5.34
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 5 - 2.87 x 5.34
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
4 Bedroom Apartment
The apartment is accessed via an entrance door at the front of the property.
Entrance Hallway
Stairwell with access to apartment upstairs in addition to housing consumer units, water heaters and electricity meters for each studio and the apartment.
Kitchen/ Living Area - 2.89m x 5.47m
Double glazed windows facing front and rear, wall hung radiator, four ring electric hob, electric oven, extractor fan, sink and fridge/freezer.
Bedroom 1 - 2.88m x 4.18m
Wall hung radiator, juliet balcony with double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Bedroom 2 - 2.89m x 4.17m
Wall hung radiator, double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Bedroom 3 - 2.91m x 4.18m
Wall hung radiator, double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Bedroom 4 - 2.89 x 5.49m
Wall hung radiator, juliet balcony with double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Hallway
Access to bedrooms 1,2,3,4 and the kitchen. Wall hung radiators and 4 double glazed windows facing the rear elevation.
Agents note
Student Housing Lincoln offer a professional property sales, acquisitions and lettings service. If you are considering renting or selling your property or are looking to purchase a bespoke investment property please call the Sales & Acquisitions Manager on the number displayed above.
These details are issued in good faith but are only a general outline for the guidance of intending purchasers and do not constitute in whole or in part an offer or a contract. No statement in these particulars is to be relied upon as a statement or representation of fact. Reasonable endeavours have been made to ensure that the information given in these particulars is materially correct; but any intending purchaser should satisfy themselves by inspection, searches, enquiries and survey as to the correctness of each statement.
The property is comprised of 5 studio apartments and a 4 bedroom en-suite apartment. The building is fully let to students until August 2023 generating a £43,200 gross rental return. This represents a 10.04% gross return based on the guide price. The projected rental return for the 23/24 academic year is £52,275.
The property is fully furnished to a high standard and requires no additional work to be relet in the coming years. Furthermore, the property benefits from a private car park with 6 spaces, 1 for each studio/flat.
The Area - Friars Lane is an attractive area for investment student properties due to its close proximity to the centre of Lincoln with its plethora of pubs, clubs and entertainment venues in addition to being a short walk from the university's brayford campus.
The property also benefits from high EPC ratings which helps to reduce operating costs in the short, medium and long term.
For further information or to arrange a viewing please get in touch.
Description
Each studio and the apartment has access to a utility room located to the rear of the property which houses 2 washing machines, 2 tumble dryers and a water heater.
Studio 1 - 2.86m x 5.33
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 2 - 2.87m x 5.34
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 3 - 2.86m x 5.4
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 4 - 2.83 x 5.34
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
Studio 5 - 2.87 x 5.34
The studio is accessed via an entrance door at the front of the property.
The kitchen includes a kitchenette, fridge/freezer and sink. The en-suite includes a shower, WC, water basin and towel rail.
Wall mounted radiator, double glazed window facing front and rear elevation and a built in wardrobe.
4 Bedroom Apartment
The apartment is accessed via an entrance door at the front of the property.
Entrance Hallway
Stairwell with access to apartment upstairs in addition to housing consumer units, water heaters and electricity meters for each studio and the apartment.
Kitchen/ Living Area - 2.89m x 5.47m
Double glazed windows facing front and rear, wall hung radiator, four ring electric hob, electric oven, extractor fan, sink and fridge/freezer.
Bedroom 1 - 2.88m x 4.18m
Wall hung radiator, juliet balcony with double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Bedroom 2 - 2.89m x 4.17m
Wall hung radiator, double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Bedroom 3 - 2.91m x 4.18m
Wall hung radiator, double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Bedroom 4 - 2.89 x 5.49m
Wall hung radiator, juliet balcony with double glazed window facing front elevation, built in wardrobe, shower, WC, water basin and towel rail.
Hallway
Access to bedrooms 1,2,3,4 and the kitchen. Wall hung radiators and 4 double glazed windows facing the rear elevation.
Agents note
Student Housing Lincoln offer a professional property sales, acquisitions and lettings service. If you are considering renting or selling your property or are looking to purchase a bespoke investment property please call the Sales & Acquisitions Manager on the number displayed above.
These details are issued in good faith but are only a general outline for the guidance of intending purchasers and do not constitute in whole or in part an offer or a contract. No statement in these particulars is to be relied upon as a statement or representation of fact. Reasonable endeavours have been made to ensure that the information given in these particulars is materially correct; but any intending purchaser should satisfy themselves by inspection, searches, enquiries and survey as to the correctness of each statement.
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