Summary - 25 WHEATFIELD ROAD LINCOLN LN6 0PS
2 bed 1 bath Flat
Cash-ready buyers will value immediate let-ready potential and private enclosed garden.
Ground-floor two-bedroom flat, approx. 618 sq ft
A spacious ground-floor apartment offering two double bedrooms and a large living/dining room across about 618 sq ft. The property benefits from a newly fitted kitchen, UPVC double glazing, gas central heating and an enclosed rear garden with a useful outside store. Sold with no onward chain, it suits a buyer looking for immediate rental income or a low-maintenance city-edge home.
There is a significant practical issue: the lease has approximately 48 years remaining, which will commonly prevent mortgage lending. The sale is being marketed to cash buyers unless the lease is extended; an indicative cost to extend back to 125 years has been quoted at around £10,000 plus legal fees. Ground rent and service charge are low (circa £40 each per year) and council tax is in the lowest band, keeping running costs down.
The local area provides quick access to shops, schools and the A46, and broadband and mobile signals are strong. However the neighbourhood faces higher-than-average crime and significant economic deprivation, which may affect long-term capital growth and tenant demand. For investors, the current condition and layout present straightforward re-letting potential; for an owner-occupier, the lease issue and local area factors are material and should be investigated before offer.
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