Free valuation

Stonefield Avenue, LincolnGuest House / Hotel, Residential, Commercial

£635,000
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About this property

LOCATION
Located just off Church Lane within the Cathedral Quarter of Lincoln and within close walking distance of the Bailgate shops, Cathedral, Lincoln Castle, local Restaurants, Public Houses and historical monuments such as Newport Arch.

DESCRIPTION
INVESTMENT OPPORTUNITY – An excellent opportunity to purchase a thriving serviced apartment business located in the highly sought-after area of Uphill Lincoln. The property comprises of Four Self-Contained Apartments and offers a potential Gross Rental Income of up to £120,000 per year.

ACCOMMODATION
APARTMENT 1 (Duplex Apartment – accessible via the Front Door)

ENTRANCE HALL

LOUNGE
5.69m into bay x 4.28m

KITCHEN
3.3m max x 4.47m max

BEDROOM 1
18′ 6" x 14′ 0" (5.65m x 4.26m)

BEDROOM 2
12′ 1" x 10′ 11" (3.69m x 3.33m)

BATHROOM
3.2m max x 4.2m

APARTMENT 2 (Ground Floor Apartment – accessible via the Back Door)

ENTRANCE HALLWAY

LOUNGE/DINING ROOM
16′ 2" x 18′ 7" (4.92m x 5.67m)

KITCHEN 2
12′ 0" x 12′ 10" (3.65m x 3.92m)

BEDROOM
9′ 7" x 8′ 11" (2.91m x 2.71m)

WET ROOM
6′ 2" x 11′ 0" (1.88m x 3.36m)

APARTMENT 3 (First Floor Apartment – accessible via the Side Door)

LOUNGE/DINING AREA
12′ 11" x 13′ 6" (3.94m x 4.11m)

KITCHEN 3
5′ 1" x 10′ 3" (1.56m x 3.13m)

BEDROOM
13′ 0" x 14′ 0" (3.95m x 4.26m)

FAMILY BATHROOM
9′ 5" x 8′ 10" (2.86m x 2.69m)

APARTMENT 4 (Second Floor Apartment – also accessible via the Side Door)

DINING/LOUNGE
10′ 8" x 19′ 2" (3.25m x 5.84m)

KITCHEN 4
9′ 7" x 10′ 6" (2.91m x 3.21m)

BEDROOM
8′ 11" x 17′ 11" (2.73m x 5.45m)

SHOWER ROOM 2
12′ 8" x 5′ 7" (3.87m x 1.7m)

SERVICES
All mains services are understood to be connected to the property. Gas Central Heating.

EPC Ratings:
Flat 3A – C
Flat 3B – C
Flat 3C – D
Flat 3D – D

Council Tax Band – ‘A’ as per the Council Tax Valuation List

TERMS
Freehold

VAT
To be confirmed.

PARKING NOTES
Outside there is substantial off-road parking and a Double Garage with the enclosed walled gardens.

OTHER
The gross apartment/holiday let income is based on a letting occupancy of 70%, further details of income and costs are available on request. The property would also let out very well on Assured Shorthold Tenancies and would offer a potential Gross Rental Income of in excess of £40,000 per annum. The Holiday Let Business Website can be viewed: http://www.stonefieldapartments.co.uk

VIEWING
Strictly via Mundys Commercial.

Floorplan