Summary -
1, Depot Street,LINCOLN,LN1 1WG
LN1 1WG
4 bed 2 bath Apartment
High-yield buy with secure tenancies until summer 2026.
• Two self-contained two-bedroom flats under single freehold ownership
• Approximate gross rental yield of 10.35% based on current rents
• Let inclusive of bills at £290/week; tenancies run until summer 2026
• EPC rating C for both flats; Council Tax Band A (low cost)
• Enclosed yard with secure fencing and brick storage rooms
• Located in student-focused, cosmopolitan area near university and Brayford
• High local crime rates and area deprivation—affects resale and management
• Rental income reliant on student market and inclusive-bills arrangements
Set over two levels, this freehold building comprises two self-contained two-bedroom apartments currently let to student tenancies and producing an approximate gross yield of 10.35%. Both flats hold an EPC rating of C and benefit from a secure enclosed yard with brick stores. Tenancies run through summer 2026, providing immediate rental income and a straightforward hands-off position for a buy-and-hold investor.
Internally the apartments offer open-plan living/kitchen spaces, fitted kitchens and practical bathroom/shower rooms. The ground-floor flat has generous ceiling heights and large windows; the first-floor apartment includes Velux windows that bring additional daylight into the living areas. Council Tax Bands are A (very low), and broadband and mobile signals are strong — a positive for student occupiers.
Material considerations: the property sits in a high-crime, deprived city neighbourhood and is in a student-communal area, which may limit owner-occupier demand and affect future resale. Both flats are let inclusive of bills at £290 per week, so ongoing management of utilities and tenancy renewals is needed. The building’s historic industrial exterior is attractive but could need periodic maintenance.
Overall this is a clear income-first opportunity for an investor seeking immediate returns from student lets, with potential to increase net yield after re-assessing utility billing, managing tenancies, or making selective refurbishments.
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