Freehold Residential House With Multiple Occupancy For Sale in Lincolnshire- Business 4 Sale .co.uk

Business Summary

HISTORY

• Large Edwardian semi detached house, owned and lived in by present owner for 25 years, converted 3 years ago into 7 tenanted rooms and common rooms.

SERVICES

• Town centre furnished rooms with shared facilities to provide this at sensible prices
• Flexible living accommodation with both quality and value for money

CUSTOMERS
• Individuals requiring affordable quality self contained living accommodation

FACILITIES
• 7 tenanted rooms
• Communal bathroom
• Communal shower room
• Communal sitting room with tv, computer (internet)
• Communal fully fitted kitchen
• Communal laundry room
• Communal outside patio and garden
• 3 car garage at rear with rear access to large car park – supermarket

OCCUPANCY

• Has been fully occupied since its conversion into rooms.
• At present it has a waiting list of 5 people.

FINANCIALS

Insurance £700
Gas/Electric £1,800

• Income rates could be increased to £34,000 at change of tenants.
• Property valuation circa £310,400.

STRENGTHS

• This is an ideal investment proposition
• Good regular returns
• Property extremely well maintained and sound in structure
• Building complies with all regulations

TENURE:

• Freehold

VIEWINGS:

• A non disclosure agreement will have to be signed and returned prior to any further information and viewing.

DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).

An Energy Performance Certificate will be made available upon request of further details where one is required for the business premises.

Property Information

	Property:	Freehold

	Living Accommodation:	Yes

	Details of Accommodation:	Two storey semi detached solid Edwardian town house, briefly consisting: Ground Floor • Lobby • Large hall way • Stairs • Room 1 – ground floor front • Room 2 – ground floor rear • Lounge • Kitchen behind lounge (fully fitted) • Laundry room behind kitchen with door to patio • W/c and hand basin • Room 3 – rear of building First Floor • Rooms 4 & 5 • Room 6 & 7 bedsits with fitted kitchens • Shower room & w/c • Bathroom and w/c External: • Front garden and steps up to front door • Rear patio, garden area and 3 car garage

	Location:	• Prime town centre location • Main road conservation area • Busy high street shopping • Major, well known Lincolnshire market town

Growth Potential

• Can easily increase the income to £34,000
• Spacious loft which could be rented out
• Possible rental from garage
• Suitable to change to holiday lets/ guest house

Reason for Selling

• Genuine retirement plans.

Other Details

	Is this a home-based business?	Yes
	Can this business be relocated?	No
	Is this business part of a franchise?	No

Summary of Business Hours

• 24 x 7

Summary of Staffing

• The owner supervising, clients expected to keep rooms clean and tidy.

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