Investment Consideration:
Gross Initial Yield: 7.90%
Rental Income: £7,500 p.a.
VAT is NOT applicable to this property
Comprises self-contained two bedroom flat, newly refurbished in May 2023
New kitchen, carpet and flooring, boiler, doors, electric wiring and lights installed
Located in the heart of the town centre with occupiers nearby including Café`s, Restaurants, Pubs, Pharmacy and many more.
Property Description:
Comprises first floor flat with separate access from Queen Street. The property has been newly refurbished in May 2023 to a high standard and provides the following accommodation and dimensions:
First Floor: 89 sq m (958 sq ft)
2 Bedrooms, Living Room, Kitchen, Bathroom
-New combi boiler
-New kitchen and bathroom tiles
-New doors
-New lights
-New electric wiring
-New carpet and flooring throughout
Tenancy:
The flat is at present let on AST to an Individual for a term of 12 Months from 4th July 2023 at a current rent of £7,500 p.a. Deposit held of £625.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Location:
Spilsby is a market town positioned towards the east of Lincolnshire, located approx. 15 miles north of Boston and approx. 25 miles east of Lincoln. The property is located in the heart of the town centre with occupiers nearby including Café`s, Restaurants, Pubs, Pharmacy and many more.
