32 Portland Street, Lincoln

£500,000
Sold STC
1/21
£500,000
Sold STC
Oliver Payling
Sales Negotiator
01522 568822
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Property summary

Freehold
4 Modern Apartments
Currently Achieving £59,325, with pre lets agreed for next year
Over 11.8% Yield
Ready Made Investment
City Centre Location
Council Tax Bands - A
EPC Ratings Flats 1-3 - E
EPC Rating Flat 4 - D
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Oliver Payling
Sales Negotiator
01522 568822

More about the property

READY MADE INVESTMENT ACHIEVING £59,325 ANNUALLY

Pygott & Crone are delighted to offer for sale this spacious home split into 4 flats located in a superb central location close to the City Centre.

The property itself is split into 4 Apartments which are currently let and the Owner has advised us it is achieving the following annual income: Flat 1 – £11,750, Flat 2 – £20,145, Flat 3 – £15,700, Flat 4 – £11,730. This equates to a gross income of £59,325 annually. The home makes the ideal investment whilst also offering an abundance of modern features throughout.

To avoid missing out please contact Pygott and Crone Today on 01522 568822.

Agent’s Note: Flat 2 has been granted C4 Change of use, which allows the flat to be rented out to 3 individual tenants, allowing for a higher income. 

We have been advised by the vendor that the property is currently let and the property is to be sold with tenants in situ. The property is fully let for 2025/26 as well. The buyer will need to confirm with their solicitor.

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Stonebow works with Pygott & Crone Estate Agents to provide their clients with expert mortgage and protection advice. Stonebow has access to over 12,000 mortgages from 90+ lenders, so we can find the right mortgage to suit your individual needs. The expert advice we offer, combined with the volume of mortgages that we arrange, places us in a very strong position to ensure that our clients have access to the latest deals available and receive a first-class service. We will take care of everything and handle the whole application process, from explaining all your options and helping you select the right mortgage, to choosing the most suitable protection for you and your family.

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Stonebow works with Pygott & Crone Estate Agents to provide their clients with expert mortgage and protection advice. Stonebow has access to over 12,000 mortgages from 90+ lenders, so we can find the right mortgage to suit your individual needs. The expert advice we offer, combined with the volume of mortgages that we arrange, places us in a very strong position to ensure that our clients have access to the latest deals available and receive a first-class service. We will take care of everything and handle the whole application process, from explaining all your options and helping you select the right mortgage, to choosing the most suitable protection for you and your family.

Property documents

To access further documentation such as the property questionnaire and title plans for this property, sign up for a free Pygott Plus account.

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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: 17 Mbps / Upload: 1 Mbps or less
Superfast: Download: 80 Mbps / Upload: 20 Mbps
Ultrafast: Download: 1800 Mbps / Upload: 220 Mbps

Stamp Duty Land Tax

Below is an illustration of the Stamp Duty Land Tax ("Stamp Duty") that would be payable, based on a set of assumptions. You should always check your stamp duty liability and any other costs due with your solicitor or conveyancer.

£15000 would need to be paid in stamp duty on purchasing this property, assuming that you are purchasing freehold, purchasing as an individual (or jointly with someone else), and this will be your only property.

First Time Buyers may claim a discount (relief) on purchases of £625,000 and under.

The stamp duty for first time buyers would therefore be £10000.

Accommodation

Flat 1
Hall
Kitchenette
Study
Dressing/Laundry Area
Shower Room
Further Hall
Lounge
Bedroom
En-Suite Shower Room
Entrance Hall
Kitchen
Flat 2 Bedroom
Flat 2 En-Suite Shower Room
Flat 3
Stairs Up To First Floor
Lobby
Flat 3 Lounge
Flat 3 Kitchen
Flat 3 WC
Bedroom 1
Bedroom 2
Bedroom 3
Stairs Up To Second Floor
Flat 4
Hallway
Flat 4 Kitchen
Flat 4 Bedroom
Flat 4 Bathroom
Mortgage affordability
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Property documents
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Broadband estimate
Stamp Duty calculator
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Accommodation details
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