Summary - 32 BROADGATE LINCOLN LN2 5AQ
8 bed 5 bath House of Multiple Occupation
High-yield central HMO with development upside near University of Lincoln.
8 double bedrooms with 5 bathrooms and 2 WCs
Current gross yield 10.6% and cashflow £1,000 pcm
Post-development forecast ROI 58.33% and £1,621 pcm cashflow
Seller can provide 10 years' HMO use evidence (Sui Generis)
Sold at auction with buyers' premium 3% + VAT and reservation fee
HMO licence not transferable — new licence required on purchase
New combi boiler 2023; double glazing; newly renovated overall
High local crime and area deprivation; some cosmetic works advised
This centrally located Sui Generis HMO on Broadgate, Lincoln, is set up for immediate rental income and further development. As offered it produces a strong gross yield (10.6%) and positive cashflow (£1,000 pcm) — attractive to investors seeking an established student-let with room to grow.
The property is newly renovated, double-glazed, gas centrally heated (new boiler 2023) and currently laid out as eight double bedrooms with five bathrooms and two WCs across about 2,293 ft². The seller can provide ten years’ evidence of continuous HMO use, reducing planning risk for continued HMO operation; conversion to C3 would need permission.
There is clear development potential: plans suggest adding a one-bed and a two-bed apartment, which the advertiser forecasts could raise post-refinance ROI to 58.33% and increase cashflow to approximately £1,621 pcm. This represents a high-reward route if you have appetite for capital works and refinancing.
Important cautions are factual: the property will be sold at auction and is subject to a buyers’ premium (3% + VAT plus reservation fee). HMO licences do not transfer on sale — a new licence will be required on change of ownership. The building sits in a high-crime, economically deprived city-centre area and some internal redecoration or minor refurbishments are recommended to maximise returns.
Overall, this is a purpose-suited student HMO in a prime university location. It suits an investor who values immediate income, understands auction purchase mechanics and is prepared to fund modest works and a licence application to unlock higher long-term returns.
19 bedroom block of apartments for sale in Portland Street, Lincoln, LN5 — £775,000 • 19 bed • 8 bath • 4424 ft²
15 bedroom house of multiple occupation for sale in Lindum Road, Lincoln, LN2 — £520,000 • 15 bed • 4 bath • 3003 ft²
5 bedroom house of multiple occupation for sale in Monks Road, Lincoln, LN2 — £185,000 • 5 bed • 1 bath • 1076 ft²
8 bedroom block of apartments for sale in West Parade, Lincoln, LN1 — £415,000 • 8 bed • 7 bath • 3122 ft²
House of multiple occupation for sale in Brayford Wharf East, Lincoln, Lincolnshire, LN5 7BG, LN5 — £280,000 • 1 bed • 1 bath
11 bedroom house of multiple occupation for sale in Lindum Road, Lincoln, LN2 — £500,000 • 11 bed • 4 bath • 3444 ft²
