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INVESTMENT OPPORTUNITY - A six bedroom furnished fully managed student let in a modern apartment block. The apartment is on the sixth floor and has a communal Lounge/Kitchen/Diner and six En-Suite Bedrooms. Managed by a professional management company for all apartment owners including marketing, maintenance billing and full rent collection. The annual fee includes sink fund to refurbish the property each year. The apartment is let for 2023/2024 at £118 per room for 48 weeks, giving a gross income of £33,984 and a gross yield of 11.52%.
The net income is £16,176.81 PA.
All figures should be checked with the Vendor/Solicitor prior to Exchange of Contracts and completion of the sale.
LOCATION The historic Cathedral and University City of Lincoln has the usual High Street shops and department stores. Nearby is the Brayford Marina with Odeon multiplex cinema and numerous bars and restaurants.The famous Steep Hill leads to the Uphill area of Lincoln and the prestigious Bailgate, with its quaint boutiques and bistros, the Castle, Cathedral and renowned Bishop Grosseteste University. Lincoln is also served by Lincoln Central Railway Station.
COMMUNAL ENTRANCE HALL With intercom system and doors to all Bedrooms and the Communal Lounge/Kitchen .
COMMUNAL LOUNGE/KITCHEN 27' 8" x 16' 3" (679m x 4.97m) , with double glazed window, laminate flooring, kitchen area with appliances including two fridge freezers, cooker and dishwasher, breakfast bar with stools, two leather sofas, TV, laminate flooring and electric radiator.
BEDROOM 1 17' 1" x 8' 4" (5.21m x 2.56m) , with double glazed window, bed, desk, drawers, double wardrobe, TV point and electric radiator.
EN-SUITE SHOWER ROOM With shower cubicle, close coupled WC and wall-mounted wash hand basin.
BEDROOM 2 16' 11" x 8' 5" (5.18m x 2.57m) , with double glazed window, bed, desk, drawers, double wardrobe, TV point and electric radiator.
EN-SUITE SHOWER ROOM With shower cubicle, close coupled WC and wall-mounted wash hand basin.
BEDROOM 3 22' 1" x 12' 2" (6.74m x 3.73m) , with double glazed window, bed, desk, drawers, double wardrobe, TV point and electric radiator.
EN-SUITE SHOWER ROOM With shower cubicle, close coupled WC and wall-mounted wash hand basin.
BEDROOM 4 18' 2" x 12' 2" (5.56m x 3.73m) , with double glazed window, bed, desk, drawers, double wardrobe, TV point and electric radiator.
EN-SUITE SHOWER ROOM With shower cubicle, close coupled WC and wall-mounted wash hand basin.
BEDROOM 5 17' 0" x 8' 4" (5.2m x 2.56m) , with double glazed window, bed, desk, drawers, double wardrobe, TV point and electric radiator.
EN-SUITE SHOWER ROOM With shower cubicle, close coupled WC and wall-mounted wash hand basin.
BEDROOM 6 17' 0" x 8' 7" (5.19m x 2.62m) , with double glazed window, bed, desk, drawers, double wardrobe, TV point and electric radiator.
EN-SUITE SHOWER ROOM With shower cubicle, close coupled WC and wall-mounted wash hand basin.
WHAT'S INCLUDED These rooms are part of a six bedroom apartment. Each room comes with a ¾ bed plus a large study desk and chair. The room has plenty of storage space including a wardrobe which has hanging space and shelving, a bedside table and a bookshelf. The kitchen comes with a dishwasher, cooker, microwave, two fridge freezers, leather sofas, TV, coffee table, breakfast bar with stools and plenty of cupboard space. It is a great space to hang out with friends and flatmates. Students also have access to a fantastic social space which has a pool table, snooker table and comfy seating where you can watch a movie or the latest Premier League or Champions League match on a 75" TV.
LEASEHOLD INFORMATION Length of Lease - TBC
Years Remaining on Lease - TBC
Annual Ground Rent - TBC
Ground Rent Reviewed - TBC
Annual Service Charge Amount - TBC
Service Charge Reviewed - TBC
All figures should be checked with the Vendor/Solicitor prior to Exchange of Contracts and completion of the sale.
