Lindum Road, Lincoln, LN2

Welcome to this charming and generously proportioned 11-bedroom, 4-bathroom HMO property that seamlessly combines comfort with contemporary living. Situated in a sought-after location, Stairs House is a high-yield investment opportunity with an external Georgian style ideally configured for communal living, offering a well-balanced mix of private and shared spaces.

With an impressive internal floor area of approximately 319.95 m² (3,444 ft²), the property provides ample room for tenants to enjoy both individual privacy and communal interaction. Its spacious layout ensures that occupants benefit from comfortable living making it particularly appealing to students or professionals seeking a quality shared environment.

Based on 75% LTV with a 6% interest rate and taking buying costs into account (including the buyers fee) the projected cashflow of £985.95 per month, yield of 12.5% and ROI of 6.3% presents a strong and appealing investment proposition especially when coupled with the condition of the property.

Upon entering this impressive property, you are greeted by a large entrance hallway which leads onto the living spaces, kitchen, ground floor bedrooms, W.C, bathroom and basement.

The property boasts stylish herringbone-effect wooden flooring throughout the ground floor, while the bedrooms, stairs and upper levels are carpeted for added warmth and comfort. Crisp white walls throughout the home provide a clean and modern aesthetic, appealing to a wide range of tenants. Additional storage is cleverly and beautifully integrated beneath the staircase.

The ground floor features a generously sized living area, ideal for communal living and entertaining. It includes three sofas, a TV, two dining tables and a football table, offering a ready-made social space.

The open-plan kitchen is a particular highlight, impressively equipped with three American-style fridge freezers, two cookers, a central island, and ample counter space. Finished with marble-effect worktops and off-white cabinetry, this space has been thoughtfully designed for both functionality and style, making it perfect for shared living and hosting.

The property is fully compliant with current fire safety regulations, including a fire alarm system and fire blanket in the kitchen.

Accessed via the entrance hallway, the basement level offers further value potential. Currently comprising a spacious bedroom, a boiler room, and an underutilised room, this lower space presents an excellent opportunity for the empty room to be converted into a study, games room or additional communal area, increasing both tenant appeal and rental yield.

Bedrooms throughout the property are generously proportioned, offering space for double beds, bedside tables, desks, and shelving. All rooms are decorated in a neutral white palette with smart, wood-effect furniture that is both attractive and easy to maintain.

Externally, the property benefits from a small private courtyard area which is accessed off the back of the kitchen, ideal for bin storage and has space for storing bikes too.

The current owner holds an HMO licence for the property and has confirmed that the property met with all of the conditions of the licence. Please note that while a HMO licence is valid for 5 years, they are not transferrable and follow the person not the property - a new licence is required upon transfer of ownership.

The property is a Sui Generis HMO under planning use classification, properties require planning permission to be converted from residential C3 use class to Sui Generis, or they require 10 years of continuous use in that class to be given the right to continue to use them as such. The seller has confirmed that they can provide 10 years evidence for the use of the property as a Sui Generis HMO.

Do not miss the chance to view this impressive and well-positioned property - book a viewing today and discover the full potential of Stairs House, all while experiencing the charm of Lincoln's history and breath-taking architecture!

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Buyers premium of 3% + VAT - payable in two parts:
- A non-refundable reservation fee of £1,500 plus VAT or 25% + VAT (whichever is higher)
- The balance is due upon legal completion (which is collected and paid via the buyer's solicitor).