Available
Lincoln – 6-Bed HMO
11 Hereward Street, Lincoln LN1 3EWFreehold 6-Bed HMO Investment
Price
£290,000
Rent P.A.
£30,345
Yield
10.46%
Tenure
Freehold
Lease Term
51 Weeks
Years Left on Lease
7m
Area
1,248 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- 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 30 minute walk from the County Hospital.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
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
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 Description
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.
Tenancies & Accommodation
Location Description
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.
