Next auction Thursday 20th June 2.30PM

32 Broadgate, Lincoln, LN2 5AQ



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Guide price

£400,000 to £450,000


Property Type

Investment

Bedrooms

8


Key Features

  • Substantial 8 bedroom student investment property producing £36,000 per annum excl
  • Planning for additional 2 x 1 bed flat and another 1 bed flat
  • Next Block Viewing: Friday 21st April at 12:45pm

Part of the 27 April 2023 auction
The Nottingham Racecourse at 2.30PM

An opportunity to acquire a substantial 8 bedroom student investment property, 0.5 miles from Lincoln University City Campus. Let with a current rent of £36,000 pa excl (scope to increase upon conversion). Planning for conversion of ground floor to 1 x 2 bed flat & a 1 bed flat.

  • Approximately 0.5 miles north-east of Lincoln University
  • City Campus is 6 minutes by bike or 3 minutes by car
  • Within a popular and established student rental location
  • Close to Lincoln Cathedral, LU Technical College & City
  • Among the top 30 Universities for student satisfaction
  • The University has a new & striking city centre campus
  • Lincoln Train Station is close by (London 2hrs)
  • An imposing 8 bedroom student investment property
  • Providing 1accommodation over 3 floors
  • Communal lounge, kitchen and WC's/bathrooms
  • Good sized rooms within this spacious period property
  • Planning for 1x 2 bed flat and another 1 bed flat
  • Floor plans to be made available in the legal pack.
  • Representing a high yielding investment opportunity
  • Let with a current rent of £36,000 pa excl
  • Scope to increase the rent upon conversion

Contact Auction Estates on 0115 7844600

Fees

A buyer's premium of £1,440 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased. The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.

Guide Prices and Reserve Prices

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

Conditions of Sale

The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

Freehold, subject to the existing tenancies. The property is let and producing £36,000 per annum excl. Vacant possession of the unconverted elements which benefit from planning for additional flats.

Refer to Legal Pack

Email: rr@bwslaw.co.uk
Telephone: 01509232611

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