13 Eastgate, Sleaford

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 2024 income of £968 PCM via short-term lets.

Flat 4 (two bedroom) - Average 2024 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 rating




Flat 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.