For SaleCity Centre Residential Portfolio

College Mews, 2 Holmes Road, 6 Toronto Street and 16 Cranwell Street, Lincoln, LN1 1RF

Description

College Mews is a converted and extended 2 storey former warehouse, constructed in traditional materials, with many of the original features maintained during the conversion works, that is now laid out to provide 25 en suite student bedrooms with shared kitchen/dining facilities.  6 Toronto Street is a mid-terrace house constructed in traditional materials, with 3 bedrooms and 2 reception rooms.  16 Cranwell Street is a mid-terrace house constructed in traditional materials, with 2 bedrooms and 2 reception rooms.

location

The main property within the portfolio is College Mews, which is situated on the corner of Holmes Road and Carholme Road, in a highly  convenient location close to the main City Centre University Campus. In addition the City Centre is located about ¼ of a mile to the west.  The other two properties are a pair of terraced houses located in established residential locations on Toronto Street and Cranwell Street, to the east and south of the City Centre respectively. Lincoln is one of England’s oldest Cathedral Cities and the administrative and major shopping centre within the County of Lincolnshire. It has a population and catchment of circa 543,367 and an established total catchment spend of £984.40 million. It is a growing University City with close to 15,000 students and academic staff based at the main campus in Lincoln, contributing an estimated £250 million to the local economy.

price

£1,450,000 to purchase the SPV. A purchase at this level will give a purchaser a yield of 8.5% net of the reduced acquisition costs under a share purchase over a standard property acquisition.

viewing

To view the premises and for any additional information please contact the sole agents.

legal costs

Each party is to be responsible for their own legal costs incurred in documenting the transaction.