Under Offer

Lincoln – Student Investment Opportunity

2-6 Bank Street, Lincoln, LN2 1DR

Offers in excess of £1,200,000

Property Types:
Residential, Student
Tenure:
Freehold

Description

  • Freehold student block
  • 25 bed spaces arranged in 5 cluster flats:
    • 1 x four bed flat
    • 3 x five bed flats
    • 1 x six bed flat
  • Fully let for both the current Academic Year (2020/21) and for the next Academic Year (2021/22)
  • Total Gross Current Rent Reserved for 2020/21: £121,559
  • Total Gross Current Rent Contracted for 2021/22: £122,910
  • The property benefits from a lapsed planning consent for the addition of six bed spaces
  • Strong rental history – the property has been fully let for 8 years since the property was previously acquired
  • Lincoln City benefits from growing student numbers and demand for accommodation outstrips supply
  • City Centre location only a 15 minute walk from University of Lincoln and Bishop Grosseteste University

An asking price of £1,200,000 reflects a gross yield of 10.13% and a capital value of £48,000 per bed space.

 

Subject to contract