Presenting an outstanding investment opportunity, this well-maintained and spacious HMO property on Wellington Street offers an ideal prospect for investors seeking a property with strong rental yields in one of Lincoln’s most desirable locations. The property boasts 5 generously-sized bedrooms, each providing comfortable and private living space for residents. These rooms are designed to suit a variety of tenants, making this home an attractive option for both students and working professionals alike.
With 1 bathroom and 1 WC, the property ensures convenience and comfort for all of its occupants, while the communal living area provides a welcoming space for residents to relax, socialise, and unwind. The well-appointed kitchen offers ample space for meal preparation and is fully equipped with all necessary appliances, creating an ideal setting for communal cooking, a dining table positioned in the middle of the room sets this as the hub of the home. The WC is located on the ground floor adding further convenience for the residents.
Situated just a 25-minute walk from Lincoln city centre, this property is perfectly positioned for those who wish to enjoy easy access to the vibrant heart of the city. The University of Lincoln is also within close proximity, making this property highly sought-after by students. Furthermore, the iconic Lincoln Castle and a wealth of local amenities, including shops, restaurants, and public transport links, are all nearby, providing tenants with everything they need right on their doorstep.
Lincoln itself offers a stunning blend of rich history and impressive architecture, with its medieval streets, historic buildings, and the world-famous Lincoln Cathedral. The city’s charming architecture is a constant reminder of its deep-rooted past, providing a picturesque backdrop for daily life. Residents of this property will have the unique opportunity to enjoy the character and culture that permeate throughout the city, from the medieval Bailgate area to the grand Lincoln Castle.
With its prime location, spacious accommodation, and excellent condition, this property offers exceptional potential for long-term rental income. Its proximity to key locations in Lincoln, combined with the strong demand for rental properties in the area, makes it a fantastic addition to any property portfolio. This is a rare opportunity to secure a highly profitable HMO property in a city that continues to grow in both population and appeal.
The property has gas central heating throughout with radiators in each room.
Overall, the property is in good condition and we do not feel that any structural work is required in order to maximise returns. We would, however, recommend refurbishments and decoration in parts to update the interior of the property. We have provided a breakdown within our comprehensive brochure.
The current owner holds an HMO licence for the property and has confirmed that the property met with all of the conditions of the licence. Please note that while a HMO licence is valid for 5 years, they are not transferrable and follow the person not the property – a new licence is required upon transfer of ownership.
The property sits within an Article 4 area which prevents the conversion of C3 (residential dwellings) into C4 HMO’s without planning permission. Due to the cap on new supply the demand for these properties has gone up significantly and as such the values are strong. The seller can provide supporting evidence to prove the use since the introduction of Article 4.
More Information
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Agent: Jamie Maguire
jamie.maguire@realm47.com
01522 442442
