Rhodes House, Northgate, Sleaford, Lincolnshire, NG34 7BX
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Read more Read moreThis property comprises a block of five large flats located in a central area of Sleaford, Lincolnshire, with close proximity to various amenities. The building is available under a single title, with the potential for division into leasehold titles for each flat. Each flat features its own entrance and offers spacious accommodation with Victorian high ceilings and sash windows. Currently, all flats are tenanted, providing a guaranteed rental income.
Flat 1 includes 2 bedrooms, a reception room, hallway, and bathroom, achieving a rental income of £1,000 per month. Flat 2 is a 3-bedroom shared accommodation with one room currently tenanted, generating £435 per month, with the potential to achieve £1,305. Flat 3 has 2 bedrooms and is currently achieving £290 per month, with potential for an increase to £570. Flat 4 features 3 bedrooms and is currently achieving £530 per month, with potential to increase to £950. Flat 5 includes 2 bedrooms, currently achieving £290 per month, with potential to increase to £950. The total potential annual income for the property is approximately £57,300, representing a yield of around 14%.
The building also includes a large dry basement that could be converted into additional flats. Some flats may require modernization.
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