Presenting an outstanding investment opportunity, this well-maintained and spacious HMO property at 4 Bedford 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 approximately 113m2 / 1,216ft2 with 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. Though we would recommend continuing with the current student let strategy.
Based on 75% LTV with a 5% interest rate and taking buying costs into account (including the buyers fee) the projected cashflow for 2024 / 2025 of £926.87 per month and ROI of 11.7% present a very strong and appealing investment proposition especially when coupled with the condition of the property.
Welcome to this exceptional and beautifully presented property, offering an abundance of space, natural light, and untapped potential. Upon entering from the ground floor, you’ll be greeted by the first of five generously proportioned bedrooms.
As you move through the ground floor, you’ll find an expansive communal living area that provides the ideal space for both relaxation and entertainment. The open layout ensures a seamless flow between the living room and the kitchen, which is designed with modern finishes and ample cabinetry—perfect for preparing meals or hosting gatherings around the dining table. The heart of the home is warm, welcoming, and meticulously maintained. The kitchen is fitted with an electric fan oven, ceramic hob, extraction hood, fridge / freezer and washing machine.
Beyond the kitchen is the first of the house bathrooms which is fitted with a corner shower cubicle, basin, vanity unit, wall mounted mirrored cabinet and wc.
On the upper floors, you’ll discover additional bedrooms, each of them equally as spacious and light-filled as that on the ground floor. Each is designed to create an atmosphere of comfort, tranquillity and spaciousness, making it the perfect retreat after a long day, or quiet zone for study.
On the second floor lies the second of the two shower rooms which is also well appointed with shower cubicle and mains shower, heated towel rail, basin and vanity unit, wall mounted mirrored cabinet and 1 & 1/2 flush WC.
The property is fitted with a gas combi-boiler and offers gas central heating throughout with radiators in each room as well as double-glazing providing additional warmth.
Externally the plot extends to approximately 0.057 acres, there is a back door from the kitchen, the space is mostly hard surface and offers off street parking and space for tenants to enjoy the Summer months.
One of the most exciting features of this property lies at the rear—a charming coach house that holds incredible potential. Currently a separate structure, it offers the possibility of being converted into additional living spaces, rooms, or even a separate rental unit, subject to the necessary planning permissions. Which could dramatically increasing the property’s return on investment. With its ample square footage and private setting, the coach house provides a blank canvas for your ideas, making it an excellent opportunity to expand and add value.
Overall, the property is in great condition and we do not feel that any structural or cosmetic work is required in order to maximise returns.
Do not miss the chance to view this impressive and well-positioned property – book a viewing today and discover the full potential of 4 Bedford Street, all while experiencing the charm of Lincoln’s history and breathtaking architecture!
A 6 minute walk from the University of Lincoln and only a short stroll from the bustling city centre, this property is ideally positioned for those who wish to enjoy all that Lincoln has to offer. The city’s vibrant mix of shops, cafes, restaurants, and cultural landmarks, including the iconic Lincoln Castle and the majestic Lincoln Cathedral, are all within easy reach. Excellent public transport links provide quick and easy access to the wider area, making it a perfect base for commuters. Read on to find out more about Lincoln, it’s rich history and what it has to offer.
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. This property was converted prior to the implementation of the A4 and the seller can provide supporting evidence.
More Information
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Agent: Jamie Maguire
jamie.maguire@realm47.com
01522 442442
