DESCRIPTION:
A substantial, freehold, mixed use premises. Fully Renovated. Ten bedroom HMO, two commercial units, self contained flat. Producing £72,116 rental income, combined, per annum. Gross yield, circa 18.25%.
Currently 2 HMO rooms, are vacant. Fully let, a further potential income of £12,000 per year is available.
Full property management service available by request. Please call 0800 448 0100.
ACCOMMODATION:
Ground Floor:
2 Commercial Units with Kitchenette.
1 Self Contained Flat with Kitchen, Reception, Bedroom, Ensuite.
2 HMO, Bedrooms with En-Suites.
1 Kitchen.
Courtyard and Garden.
First Floor:
5 HMO Bedrooms, En-suite
2 Seperate, shower rooms
3 HMO Bedrooms with the use of communal kitchens.
Utility Room.
Kitchen
All HMO rooms, let on six month, AST.
B – £498.00 per month started 26/10/22
C – £477.00 per month started 10/09/21
E – £520.00 per month started 12/5/22
F – £542.00 per month started 15/7/22
G – £563.00 per month started 29/4/22
H – £542.00 per month started 29/4/22
J – £477.00 per month started 17/6/22
K – £607.00 per month started 9/9/22
Self contained flat – £600pcm started 5/8/22
Unit 1 – £433pm started 30/8/22 Commercial lease (duration six months)
Unit 2 – £750pm 5 year Commercial Lease, expires 28/4/2027.
Producing £72,096 combined per annum. Gross yield, circa 18.25%.
LOCATION:
Within the Market Town of Holbeach, and civil parish in the South Holland District in Lincolnshire, England. The town lies 8 miles from Spalding; 17 miles from Boston; 20 miles from King’s Lynn; 23 miles from Peterborough; and 43 miles by road from Lincoln. It is on the junction of the A151 and A17.
Spalding is a market town on the River Welland in the South Holland district of Lincolnshire, England. The town had a population of 31,588 at the 2011 census. The town is the administrative centre of the South Holland District. The town is located between the cities of Peterborough and Lincoln.
VIEWING:
By appointment only.
TENURE:
Freehold.
UNCONDITIONAL LOT:
Auction Fees apply upon the fall of the gavel. The Purchaser shall pay a deposit of 5% (or minimum £5,000) and auction fees as per the legal pack as contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 or 42 days following the auction (unless otherwise stated).
