40 Claremont Street, Lincoln

Guide Price
£160,000
For Sale
1/12
Guide Price
£160,000
For Sale
Daniel Cook
CeMap
Residential Valuer
01522 568822
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Property summary

Freehold
Modern Method of Auction - T&C's Apply.
Reservation Fee Payable
5 Bedroom HMO Investment Property
Current Gross Income of £22,000
Article 4 Compliant and HMO Licence in place
3 En Suite Bedrooms & 2 Further Double Bedrooms
Fully Furnished Throughout & Communal living space
Walking Distance to High Street & Lincoln Hospital
EPC Rating - E, Council Tax Band - A

Get in touch

Daniel Cook
CeMap
Residential Valuer
01522 568822

More about the property

For sale by Modern Method of Auction – T&C’s Apply.

Pygott and Crone are delighted to offer for sale this fantastic 5 Bedroom HMO investment property in the heart of the city centre.

This investment, is currently let to 4 professional tenants generating a gross income of £22,880 per annum with a higher potential income if fully let.

The accommodation briefly comprises: Entrance Hallway, Bedroom 1 with En Suite, Living Communal Room, Kitchen Diner and Communal Bathroom. First floor has Three double Bedrooms with one benefitting from having an En Suite with the 2nd floor having a further En Suite Bedroom.

Outside there is an enclosed rear yard.

The property is currently being managed by Pygott and Crone Lettings and if you have any questions regarding the tenancies, please contact the office for further information.

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Further Information - tap an option below
Your mortgage could be £620 per month*
Mortgage
Rate
Term
Adjust the options above to calculate a monthly payment
* Our mortgage calculator is only intended as a guide to help you calculate monthly mortgage payments based on the variable details entered (mortgage amount, interest rate, term). Buying a property is a significant event in any person’s life and it always makes sense to take some mortgage advice. Pygott & Crone offer a free initial consultation on a very personal basis, and can help you through the process of getting a mortgage, arranging insurance for your property and setting out other important options for consideration. Talk to us about your options

Property documents

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Broadband

Below is an estimate of broadband speeds and availability at this property. This data has been sourced from Ofcom and should only be used as a guide. For more precise speeds and availability consult a broadband provider. NB: Mbps = Megabits (or "meg") per second.

Standard: Download: 16 Mbps / Upload: 1 Mbps or less
Superfast: Download: 80 Mbps / Upload: 20 Mbps
Ultrafast: Download: 1000 Mbps / Upload: 1000 Mbps

Accommodation

BUYERS INFORMATION PACK
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.  This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.  The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
BUYING CONDITIONS
This property is for sale by the Modern Method of Auction. Should you view, offer, or bid on the property, your information will be shared with the Auctioneer, Iamsold.  This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyer’s solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability, and survey).  The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT.  The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Hall
Living/Communal Room
4.65 x 3.91m
Kitchen
5.26 x 3.2m
Bathroom
2.24 x 1.73m
Bedroom 1
3.68 x 3.58m
En-Suite
2.08 x 0.91m
First Floor Landing
Bedroom 2
3.76 x 2.54m
En-Suite
2.11 x 0.97m
Bedroom 3
3.94 x 2.31m
Bedroom 4
3.94 x 2.18m
Bedroom 5
5.08 x 4.42m
En-Suite
2.29 x 1.47m
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