Summary -
Apartment 3,The Old School,Bargate,LINCOLN,LN5 8DE
LN5 8DE
20 bed 11 bath Block of Apartments
Immediate rental income with scope to increase yield near city centre.
Freehold block of eight apartments, total 20 bedrooms
A substantial freehold block on the edge of Lincoln city centre, this converted Old School House comprises eight apartments totalling 20 bedrooms across 6,566 sq ft. The mix of four three-bed and four two-bed units, high ceilings and industrial-conversion character gives the building broad tenant appeal and scope for rental growth. Five apartments have private access and each unit benefits from a dedicated off-street parking space.
All eight flats are currently let on Assured Shorthold Tenancies (AST), providing immediate rental income and a platform to increase yield through active management or light refurbishment where desired. The building benefits from excellent mobile signal and fast broadband, supporting demand from working renters and sharers.
Buyers should be aware of material location considerations. The property sits in a deprived, transitional neighbourhood with a very high crime rate and a constrained local renter profile; these factors may increase management costs, insurance premiums and void risk. Schools and local amenities are mixed nearby, and the site will suit investors prepared to actively manage tenancies and security.
Overall, this is a clear opportunity for a hands-on investor seeking a large freehold multi-let asset close to Lincoln city centre, offering immediate income and potential for yield enhancement with focused asset management.
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