Key Information
- 22 ensuite studio apartments
- 100% occupancy for the 2024/25 academic year
- Gross rental income of £202,236 per annum
- Easy walking distance to University of Lincoln Campus, amenities and city centre transport links
- £1,800,000 reflecting a Gross Yield of 11.2% and Net Yield of 7.2% and a low capital value of £81,818 per bed space, assuming normal purchaser's costs.
The property is an attractive 2 storey 'L' shaped period building of traditional brick and stone construction beneath a pitched slate roof set around a stone courtyard. originally a coach house it was converted into student accommodation in 1999 and extensively refurbished in 2023 to provide 22 high quality ensuite studios. Internally, the studios are finished to a high standard being appointed with a 3/4 double bed, desk and built in wardrobe, kitchenette with electric hob and oven and fridge freezer. The ensuites are fitted with a shower, WC, wash basin and heated towel rail.
Location
Lincoln is a Cathedral City and the county town of Lincolnshire. Part of the East Midlands, Lincolnshire sites on the East coast of England, to the north of Norfolk and the south of Yorkshire. the total population within the Lincoln primary catchment area is 416,000, with the entire urban area of Lincoln having a population of 127,540 as at the 2021 Census, an increase of over 10,000 since 2011. Lincoln is home to two Universities with a combined enrolment of approximately 22,000. Lincoln is ideally located at the junction of the A46, A57 and A15, providing excellent access to Nottingham, Sheffield, Peterborough and Grimsby. Lincoln is also served by Lincoln Mainline Railway Station providing travel to destinations that include Newark-on-Trent, Sheffield, Leeds, Barnsley, Wakefield, Nottingham, Grimsby and Peterborough.
VAT
All figures quoted are exclusive of VAT. The property is not registered for VAT.
EPC
The property has an EPC assessment of D-84. A full list of domestic ratings is available on www.epcregister.com
Viewing
Viewings are by appointment with sole agents Innes England