Skip to content
Buy
Property for sale New homes for sale Property valuation Investors Mortgages
Rent
Property to rent Student property to rent
Find Agent
Find estate agents
House prices
Sold house prices Instant online valuation
Commercial
Commercial property to rent Commercial property for sale Advertise
Inspire
Moving stories Property news Energy efficiency Property guides Housing trends Overseas blog Mortgage guides
Overseas
All countries Spain France Portugal Italy Greece Currency Sell Overseas property

Eastgate, Sleaford, Lincolnshire, NG34

Flat 1Fp Flat 3
5

Key features

  • Block of 7 Individual flats
  • 5 two bedroom units and 2 one bedroom units
  • Generating £63,455 Per Annum
  • 5 flats subject to AST's and 2 Airbnb
  • 9.4% NIY on asking price
  • Located in an area with strong tenant demand
  • Close to Sleaford town centre
  • EPC Ratings - C-E
  • Council Tax Band - A

Description

RESIDENTIAL INVESTMENT reflecting 9.4% NIY. 7 x Individual flats generating £63,455 Per Annum reflecting 9.4% NIY.

The property comprises a fully occupied residential block of 5 x two bedroom units and 2 x one bedroom units situated close to the heart of Sleaford where occupier demand is strong. 

SITUATION

The Property is located on Eastgate close to Sleaford town centre. Sleaford is a popular market town with wide range of amenities including local and national retail outlets, banks, restaurants, schools and doctors and dental surgeries. A host of national occupiers are situated nearby including Boots, Superdrug, Costa Coffee, Yorkshire Trading Co, Greggs and Subway. Sleaford is also home to the Interflora headquarters and North Kesteven District Council main offices.The town has good access to the A17 and A15 which bypass the town, and is serviced by a railway station situated on the Skegness – Nottingham Line, with connections available at Grantham onto the east coast mainline between Edinburgh and London King's Cross.

ACCOMMODATION

The property comprises a block of 7 residential flats split across 5 two bedroom units and 2 one bedroom units. The block is fully occupied with 5 flats being subject to standard AST's and 2 that are currently operated as short-term lets. Each flat is well appointed and fit for occupation.

TENURE

The freehold is for sale subject to the current lease agreements in place; 5 flats being subject to standard AST agreements and 2, operated as short-term lets. A summary of the income generated is outlined below:Flat 1 (one bedroom) - Let at £600 PCM on standards AST terms.Fat 2 (one bedroom) - Let at £625 PCM on standard AST terms.Flat 3 (two bedroom) - Average 2023 income of £968 PCM via short-term lets.Flat 4 (two bedroom) - Average 2023 income of £1,050 PCM via short-term lets.Flat 5 (two bedroom) - Let at £695 PCM on standard AST terms.Flat 6 (two bedroom) - Let at £675 PCM on standard AST terms.Flat 7 (two bedroom) - Let at £675 PCM on standard AST terms.The flats let on standard AST agreements are currently managed by Pygott and Crone and those on short-term lets, by an external company. The annual performance of the short-term lets and ASTs can be made available to any interested party.

ENERGY PERFORMANCE CERTIFICATES

Each flat has the following EPC ratingFlat 1: D (60)Flat 2: D (61)Flat 3: D (60)Flat 4: E (49)Flat 5: D (68)Flat 6: C (69)Flat 7: D (59)Copies of the EPCs can be made available to any interested party.

SERVICES

Mains services are connected to the building appropriate for its current use. The agents have not tested the services or service connections; any interested parties should satisfy themselves in this regard.

OUTGOINGS

Each flat has a council tax band rating of 'A''.

VAT

We are awaiting confirmation on whether the sale price will be subject to VAT being charged.

LEGAL COSTS

Each party is to cover their own legal costs incurred throughout the transaction.

LOCAL AUTHORITY

North Kesteven District Council.

VIEWING

Strictly via the appointed sole agents.

COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
Band: TBC
PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
Ask agent
GARDENA property has access to an outdoor space, which could be private or shared.
Ask agent
ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
Ask agent

Energy performance certificate - ask agent

Eastgate, Sleaford, Lincolnshire, NG34

Open mapStreet View

Add an important place to see how long it'd take to get there from our property listings.

__mins driving to your place

Check how much you can borrow

Get an instant, personalised result:

  • Show sellers you’re serious
  • Secure viewings faster with agents
  • No impact on your credit score
Get a Mortgage in PrinciplePowered bynationwideThe Nationwide Logo represents a symbol of financial strength and community, empowering members to achieve their goals
Extension potential
Recently sold & under offer
See similar nearby properties

About PYGOTT & CRONE COMMERCIAL, Lincoln

36a Silver Street, Lincoln, LN2 1EW

Your mortgage

Per year
Lender usually expects a 10% deposit
%
Choose between 1 and 40 years
Years
%
Monthly repayments
£3,489
We think you can borrow up to
Add your household income above
Powered bynationwideThe Nationwide Logo represents a symbol of financial strength and community, empowering members to achieve their goals
These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Notes

These notes are private, only you can see them.

Staying secure when looking for property

Ensure you're up to date with our latest advice on how to avoid fraud or scams when looking for property online.

Visit our security centre to find out more

Disclaimer - Property reference 10423530. 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 PYGOTT & CRONE COMMERCIAL, 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.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

Map data ©OpenStreetMap contributors.

Email agent

Call agent

Email agent