9 bedroom terraced house for sale

DEVELOPMENT OPPORTUNITY - Portland Street, Lincoln, SIX BEDROOMS GRANTED - POTENTIAL FOR NINE BEDROOMS & 38,610pa retur

Guide Price £250,000

Property Description

Key features

  • Ideal Investment Opportunity
  • Two Separate Buildings on the Site/Currently Office Space
  • Planning for Conversion to Residential Granted
  • DRAFT PARTICULARS SUBJECT TO VENDORS APPROVAL
  • Currently in Excellent Order (used as offices until this year)
  • City Centre Location
  • Lots of Recent Regeneration (Transport Links) Around Site
  • 13 Minute Walk from Lincoln University
  • 6 Minute Walk from Lincoln Train Station
  • Possible Yield of 38,610.00pa after Conversion

Full description

Tenure: Freehold

A substantial plot containing two dwellings in a prominent City Centre location sold with a Grant of Planning Permission - Change of Use from Offices (Class B1) to 2 Houses in Multiple Occupancy (Sui Generis) (Total 6 Bedrooms) and associated external alterations to the front elevation. - dated May 16.

Plans have been produced by Paul Butler Architects; there are two office buildings with scope to convert to residential dwellings that could produce an appealing investment return.

The buildings could be converted into a six bedroom, two bathroom student accommodation with potential yields in the region of 25,740.00pa (gas, water, electric, internet and TV license would be incorporated into the rental figure with the purchaser/landlord responsible for the utility payment during a tenancy).

There could be scope to revise the plans to accommodation more bedrooms (subject to planning). As such, a potential gross return of 38,610.00pa with the combined HMO rents if nine lettable rooms can be achieved.

The site is an estimated 13 minute walk from Lincoln University, 6 minutes' walk from the train station and a 5 minute walk from Lincoln High Street.

Both buildings have been utilized as modern offices up to this year and aesthetically stand in excellent order. The rear most building features under floor heating with the rest of the two buildings piped for radiators. There are also various air conditioning units fitted. The internal doors are fire doors. Overall the standard of this development should offer someone with the knowledge and skills the opportunity of a relatively simple conversion project.

The site has a single electric meter (to the rear) and a single water supply serving both buildings. There are two gas meters (one for each dwelling)



Sold with no Chain

Total Floor Space - Est 165m2

Current Layout

Front Building

Ground Floor

Front Office - 3.92m x 3.31m

Hall, Stairs and Landing

Middle Office - 14.62m x 3.41m

First Floor

Front Office - 3.76m x 3.45m

Second Front Office - 3.06m x 2.58m

Kitchenette - 1.63m x 1.54m

WC

1.61m x 1.36m

Rear Office

3.07m x 2.60m

Second Back Office

3.42m x 3.75m

Rear Building

Ground Floor

Hallway

Front Office - 5.14m x 3.37m

WC - 2.40m x 1.51m

Second WC- 1.09m x 2.27m

Kitchenette - 1.98m x 1.48m

Store - 4.28m x 7.73m

Stairs and Landing

First Floor

Back Office - 3.41m x 4.20m

Front Office - 3.13m x 2.73m


Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
25 October 2016

Nearest stations

  • Lincoln Central (0.2 mi)
  • Hykeham (3.3 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

Lighthouse Property Services Ltd, Lincoln

39 a Carholme Road, Lincoln, LN1 1RN

03339 873685 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans

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Floorplan 1

Consent

Floorplan 2

Floorplan 2

Floorplan 3

Floorplan 3

To view this property or request more details, contact:

Lighthouse Property Services Ltd, Lincoln

39 a Carholme Road, Lincoln, LN1 1RN

03339 873685 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Lincoln Central (0.2 mi)
  • Hykeham (3.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lighthouse Property Services Ltd, Lincoln

39 a Carholme Road, Lincoln, LN1 1RN

03339 873685 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference LIPS_184. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Lighthouse Property Services Ltd, Lincoln. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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