2-bedroom flat · LN7 6UB
For saleReduced £5k (−5%) on 2 JulListed 150 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A rare opportunity to purchase a ground floor flat offered for sale with no onward chain, located within the centre of the historic town of Caistor.
The property benefits from local amenities and shops within close proximity.
The accommodation comprises two Bedrooms, a spacious Bathroom and an Open Plan Kitchen/Living/Dining Room with access to the communal rear garden. Viewing is highly recommended.
A rare opportunity to purchase a ground floor flat offered for sale with no onward chain, located within the centre of the historic town of Caistor.
The property benefits from local amenities and shops within close proximity.
The accommodation comprises two Bedrooms, a spacious Bathroom and an Open Plan Kitchen/Living/Dining Room with access to the communal rear garden. Viewing is highly recommended.
Location Caistor is a historic, picturesque Market Town located on the Viking Way just on the northern border of the Lincolnshire Wolds, enjoying a wonderful variety of traditional and independent retail outlets, amenities, doctors, excellent schooling (Caistor Grammar School - Ofsted Graded 'Excellent', Caistor Yarborough Academy - Ofsted Graded 'Requires Improvement' and Caistor Church of England Methodist Primary School - Ofsted Graded 'Good'), sports fields, gym and various sports/social clubs.
The town is situated just off the A46, which provides ease of access to larger road networks onto Grimsby, Lincoln, Scunthorpe, Barnetby Train Station and Humberside Airport.
Services Mains electricity, water and drainage. Electric heating.
Leasehold information Length of Lease - 999 years from 25 March 2018 (30/07/2018 to 24/03/3017) Years Remaining on Lease - 991 All figures should be checked with the Vendor/Solicitor prior to Exchange of Contracts and completion of the sale.
Lease details - The property is being sold leasehold with a share of the freehold.
The freehold will be shared jointly between this property and the first floor apartment known as 4 Beech Sheldon Court, Bobs Lane, Caistor, which is also currently owned by the vendor.
The lease was granted for a term of 999 years from 25 March 2018 and has approximately 991 years remaining. We understand that there is currently no ground rent or formal maintenance charge in place.
Any future maintenance arrangements, shared responsibilities and associated contributions will be agreed between the respective owners and their solicitors during the conveyancing process.
Hall With external doors to the front and rear elevations, radiators and doors leading to rooms.
Bedroom 1 14' 6" x 8' 4" (4.42m x 2.54m) With carpet flooring, radiator and window to the front elevation.
Bedroom 2 14' 1" x 7' 9" (4.29m x 2.36m) With carpet flooring, radiator and window to the front elevation.
Bathroom 11' 7" x 7' 11" (3.53m x 2.41m) With vinyl tiled flooring, low level WC, wash hand basin, bath with overhead shower and storage cupboard housing water tank.
Living room 14' 6" x 11' 7" (4.42m x 3.53m) With wood effect vinyl flooring, radiator, electric fireplace and UPVC double glazed window to the front elevation.
Kitchen 12' 10" x 8' 5" (3.91m x 2.57m) With wood effect vinyl flooring, fitted with a range of wall and base units, integrated stainless steel sink with drainer, integrated electric oven, integrated induction hob with extractor fan over, UPVC double glazed window to the rear elevation and opening into the living room.
Cellar 10' 2" x 9' 10" (3.1m x 3m) outside To the rear there is a shared communal garden area with side access for bins and external rear door access.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About 34, South Street, Market Rasen
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