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PROPERTY DESCRIPTION This property is located in a prime area of Uphill Lincoln, close to the desirable Bailgate and Cathedral Quarter. This historic area has an array of independent Shops, Restaurants and Cafes and is within walking distance of Lincoln Castle and Lincoln Cathedral. The property also offers excellent access to the City Centre and Train Station. Currently operating as a three bedroom house of Multiple Occupancy (HMO), the property features a Hall, a Lounge (currently used as Bedroom 3), a Dining Room, a modern fitted Kitchen, WC and the First Floor leading to two Bedrooms and a Shower Room. The property also has a pleasant rear garden. The property generates a gross annual rent of £17,160, providing a current gross yield of 8.58%. A fixed-term tenancy is in place from 20th September 2024 until 2nd September 2025, with the rent of £330 per week, inclusive of bills, to three tenants. Additionally, the property offers potential for conversion into a private home or a profitable holiday let, capitalising on its excellent location.
LOCATION The historic Cathedral and University City of Lincoln has the usual High Street shops and department stores, plus banking and allied facilities, multiplex cinema, Marina and Art Gallery. The famous Steep Hill leads to the Uphill area of Lincoln and the Bailgate, with its quaint boutiques and bistros, the Castle, Cathedral and renowned Bishop Grosseteste University.
HALL With stairs raising to First Floor.
LOUNGE / CURRENT BEDROOM 3 10' 11" x 9' 11" (3.33m x 3.02m) With UPVC double glazed window and radiator.
DINING ROOM 13' 0" x 10' 11" (3.96m x 3.33m) With UPVC double glazed window, fitted cupboards and radiator.
KITCHEN 14' 1" x 5' 10" (4.29m x 1.78m) With UPVC double glazed window and external door, vinyl flooring, fitted with a range of wall, drawer and base units with works surfaces over and tiled splashback, integral oven, four ring ceramic hob with extractor fan over and spaces and plumbing for washing machine and dishwasher.
WC With UPVC double glazed window, vinyl flooring, low level WC and wash hand basin.
FIRST FLOOR LANDING With storage cupboard.
BEDROOM 1 10' 11" x 10' 0" (3.33m x 3.05m) With UPVC double glazed window and radiator.
BEDROOM 2 13' 0" x 7' 3" (3.96m x 2.21m) With UPVC double glazed window and radiator.
SHOWER ROOM 9' 5" x 6' 3" (2.87m x 1.91m) With UPVC double glazed window, vinyl flooring, low level WC, wash hand basin, shower cubicle, heated towel rail, panel boarding, extractor fan and a gas fired central heating boiler.
OUTSIDE To the rear of the property there is a lawned garden.
NOTE - All figures should be checked with a solicitor prior to exchange of contracts.
