Summary - 3b Fletcher Street, GRANTHAM NG31 6BP
2 bed 1 bath Flat
Two-bedroom let property ideal for commuting investors seeking steady rental income.
["Town centre location, five-minute walk to train station","Sold with tenants in situ — immediate rental income","Large first-floor flat, approx. 905 sq ft","Vendor will grant new 125-year lease on sale (confirm in writing)","Leasehold — mortgage lenders may require checks or refuse","Area classified as deprived; crime levels above average","Double glazing fitted post-2002; mains gas boiler and radiators","Potential additional leasehold fees and documentation costs"]
Situated in Grantham town centre with excellent transport links, this two-bedroom first-floor flat offers a straightforward investment opportunity. The flat is currently let (tenants in situ), provides generous living space (approx. 905 sq ft) and sits just a five-minute walk from the train station — appealing for commuter demand. The building retains period character, double glazing installed post-2002 and mains gas central heating.
Important practical points should be checked before purchase. The property is sold leasehold and the vendor will grant a new 125-year lease on sale, but marketing notes also flagged a shorter remaining-term issue which could affect mortgage availability. Prospective buyers should request full lease documentation and confirm lender acceptance; additional leasehold fees and pack costs may apply.
The location delivers convenience and steady rental demand, though the area is classified as deprived and local crime levels are above average. These factors can influence rental yields and tenant profiles; a hands-on management approach is advisable. The flat is described as move-in ready but offers simple refurbishment potential to improve rental value or resale appeal.
This is best suited to investors seeking an easily managed, town-centre rental with commuting appeal, or buyers prepared to verify lease and lending details before committing. Verify service and appliance conditions, and consider a survey to confirm heating, electrics and structural condition.
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