Summary - KESTEVEN COURT FLAT 9 NEW STREET GRANTHAM NG31 8FP
2 bed 1 bath Flat
Compact two-bedroom with refurbishment potential for cash investors.
Cash buyers only — mortgage lending likely unavailable
Lease 68 years remaining — significant lending risk
Service charge approx. £72 PCM; annual total ~£864
Ground rent approx. £150 per year (paid biannually)
Sold as seen; priced to reflect condition and required works
Buyer pays admin fee £500 and buyer’s premium £3,500 or 2% + VAT
Small overall size — 534 sq ft, five rooms including two bedrooms
Local issues: slow broadband and above-average crime rates
This two-bedroom flat in central Grantham is offered for cash buyers only and sold as seen. At approximately 534 sq ft the accommodation is compact but functional, with a living room, kitchen, two bedrooms and a bathroom. The development is modern in appearance and includes gated entry and parking; a small garden is also noted.
Important tenure and cost details will define suitability: the lease has 68 years remaining, a level that will likely prevent mortgage lending. Ground rent is around £150 per year and the service charge is approximately £72 per month. A buyer administration fee of £500 and a buyer’s premium (minimum £3,500 or 2% of price plus VAT) are payable on exchange, so budget accordingly.
The property is priced to reflect its condition and tenure and presents short-term rental or refurbishment potential for a cash investor prepared to accept the risks. Broadband speeds are reported slow and local crime levels are above average, factors to consider for lettability and future value. Nearby schools include several rated Good and one Outstanding secondary, which may support rental demand from families.
This is a straightforward, low-maintenance block with modest running costs, but the lease length and additional purchaser fees are material constraints. Suitable only for buyers able to proceed without mortgage finance and comfortable investing in a property sold as seen.
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