44 Lincoln Gate

44 Lincoln Gate, Lincoln Road, Peterborough, Cambridgeshire, PE1 2RD

Over 55’s Retirement Apartment – Buy To Let Opportunity

Auction T&C's apply to this sale
Guide price: £45,000+
Over 55’s retirement first floor apartment
Two bedrooms
Communal parking and gardens
Modernisation work required
Sold with vacant possession
Immediately available
Approx. total floor area of 564 ft2
Leasehold

Overview
For sale by online auction, a two bedroom first floor over 55’s retirement apartment.
Lincoln Gate is located on the west side of Lincoln Road, Peterborough.

The property will benefit from some modernisation work, which once completed should provide a return on the investment from the prospective buyer.

The property is sold with vacant possession and is immediately available.

Upon entering the property, there is an entrance hall which leads to the living room, bedrooms and the bathroom. The bedrooms and living room are located to the rear elevation.

The living room floor is carpeted and the walls are plastered and painted. Access into the kitchen is via the living room.

The kitchen has vinyl flooring and a tiled splash back to the entire perimeter. There is a stainless steel sink with drainer, oven/grill with electrical hobs above and a freestanding fridge freezer.

The two bedrooms both have carpet flooring and plastered and painted walls.

The bathroom is part tiles and part plastered and painted. There is a toilet, wash basin with storage underneath and a shower.

The high street is located about half a mile away from the property.
Further down the road, there is Queensgate Shopping Centre, which provides many shops for clothes, jewellery, electronics/technology and banks etc.

Peterborough City centre is located approximately 1 mile south from the property, accessed via the A15. Cambridge is approximately 45 miles south east from the property, taking approximately 1 hour to arrive via the A1 (M).

Floor Area
Approx. total floor area
52.40 m2 / 564 ft2
(taken from floorplan)

Services
We understand the property to have electricity, water and drainage.

The services have not been inspected by John Pye Property and we recommend that interested parties complete their own investigations in this respect.

Tenure
Leasehold -
125 years from 1st April 1986
Unexpired lease term of approximately 87 years

The lease provides that the lease may be assigned to somebody under the age of 55 provided that the occupants of the property are 55 or over. If more than one occupier occupies the property, one occupant may be under 55 but the rest must be of qualifying age (i.e., 55 years of age or over).

Please see the legal pack for more information

Note
The Buyer may be under 55 years of age but the occupants must comply with the age restrictions within the Lease

Council Tax
The property is rated in Council Tax Band B
Council Tax payable (2023/24) is approximately £1,378.64

Guide Price
£45,000+

Buyer's Premium
2.5 % (min. £4,000) inc. VAT

EPC
Band C -

Legal Pack
Please refer to the legal pack for this lot johnpye.auctiondocs.com

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