7 Flats, Cecil Court, Cecil Street, Gainsborough

£525,000
For Sale
1/8
£525,000
For Sale
William Downing
BSc (Hons) MRICS FNAEA MIoD MARLA FNAEA (Comm)
Director
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Property summary

Residential Investment Property
Close to Gainsborough Town Centre
6 flats over 2 floors
1 x house
1 and 2 Bedroom flats
All fully let
Producing £37,800 gross

Get in touch

William Downing
BSc (Hons) MRICS FNAEA MIoD MARLA FNAEA (Comm)
Director

More about the property

The property comprises a modern development of 6 flats and a house over 2 floors which was built in the last 15 years and is within a gated community.

The property is situated approximately 1 mile east of Gainsborough town centre with a mix use area which comprises residential dwellings, leisure and educational facilities, and employment areas.

Gainsborough is an historic market town in the West Lindsey district of Lincolnshire with a population of approximately 22,000. Gainsborough is also close to the Doncaster Finningley Robin Hood Airport and the London North East railway service to King’s Cross and Doncaster station.

Gainsborough has undergone major regeneration in recent years, with the £39 million Marshall’s Yard development with all phases having been completed including 100,000 sqft of retail, 50,000 sq ft of offices together with leisure, trade counter and apartments with secure parking. Many of the High Street’s national names have moved into the site including The Department Store Browns of York, Next, DW Sports, M&S Food, Greggs, Specsavers, New Look and many more.

Gainsborough is also internationally recognised for an 18 hole golf course owned by PING on the outskirts of the town close by to the subject investment.

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Accommodation

ACCOMMODATION
The property comprises;
Ground Floor
Flat 1 x 2 bed end terrace house 62 sqm
Flat 2 x 1 bed flat 33 sqm
Flat 3 x 2 bed flat 47 sqm
Flat 4 x 2 bed flat 42 sqm
First Floor
Flat 5 x 2 bed flat 47 sqm
Flat 6 x 2 bed flat 65 sqm
Flat 7 x 2 bed flat 62 sqm
SERVICES
Mains electricity, water and drainage are connected to the property.
LEASE TERMS AND RENTAL INCOME
The property is fully let on ASTs (Assured Shorthold Tenancies) for 6 months plus. The existing gross rent is £37,800 pa.
TENURE
The property is freehold subject to the existing tenancies
COUNCIL TAX
All the properties are subject to Council Tax Band A.
EPC
The property has the following EPCs which are valid until the 30th April 2029;

Flats 1,3,4,5,6,7 - Rating C
Flat 2 - Rating C
VAT
The price is exclusive of VAT if applicable.
LOCAL AUTHORITY
West Lindsey Council
Guildhall
Marshall’s Yard
Gainsborough
DN21 2NA
Tel: 01427 676676
VIEWING
Contact Pygott & Crone Commercial
21 The Forum
North Hykeham
Lincoln
LN6 8HW
Tel : 01522 536777
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