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See how verdicts workTerraced house · LN11 9BL
For saleReduced £24.9k (−15.6%) on 26 OctListed 259 days
Opportunity summary
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About
*Attention Investors* TES Property bring to the market this mid terrace property located within the conservation area of Louth, just a short walk into the town centre and all local amenities.
The property requires modernisation throughout and internally comprises a ground floor flat and 4 bedsits, achieving a current rental income of £17,220 per annum.
Location - The historic market town of Louth; fondly known as the 'Capital of the Wolds' and beautifully positioned in an Area of Outstanding Natural Beauty is approximately 15 miles from the coast, 16 miles from Grimsby and 30 miles from Lincoln.
It has a wealth of local services and amenities to offer.
Popular points of interest include the 'people's park' of Hubbard Hills and Westgate Fields, the last remaining Lincolnshire Cattle Market and the spectacular St James' Church, boasting the tallest medieval parish church spire of approx 287 feet /87.6 m.
Other features include Louth Golf Course and Kenwick Park Golf Course, Louth Tennis Centre, London Road Sports Pavilion, Riverhead Theatre, Playhouse Cinema, Louth Museum, Kenwick Park Gym and Spa and Meridian Leisure Centre.
As well as excellent local schools including King Edward's VI Grammar School, a doctors surgery and a hospital.
Louth is particularly well known for its vast array of independent shops, butchers and delicatessens, thrice weekly markets and the New Market Indoor Hall all offering outstanding local produce as well as three supermarkets; Morrisons, Co-Op and Aldi.
Accommodation - Ground Floor Flat - Double Bedroom - 3.77m x 4.51m (12'4" x 14'9") - With sash window to front, radiator. Bedroom 2 - 2.8m x 2.95m (9'2" x 9'8") - With sash window to rear, radiator.
Step Up To Living Room - 3.82m x 3.63m (12'6" x 11'10") - With radiator, wall mounted boiler, sash windows.
Living Room/Dining Room - 5.27m x 4.3m (17'3" x 14'1") - With brick fireplace with tile hearth and wooden mantle, 2x cupboards and radiator.
Kitchen - 2.95m x 2.25m (9'8" x 7'4") - With base and wall units with drawers, stainless steel sink and drainer, space for fridge freezer, hob and tile splashbacks.
Bathroom - With w.c, bath with electric shower over, wash hand basin, extractor, single glazed unit to side.
First Floor - Bedsit 1 - 3.71m x 3.77m (12'2" x 12'4") - With sink and single glazed window. Bedsit 2 - 3.2m x 2.769m (10'5" x 9'1") - With sink and single glazed window.
Bathroom - Second Floor - Bedsit 3 - 3.25m x 3.58m (10'7" x 11'8" ) - With sink and single glazed window to rear. Bedsit 4 - 2.95m x 3.8m (9'8" x 12'5") - With sink and single glazed window.
Kitchen - Outside - Rear Courtyard Garden - Brick Store - Tenancies - We understand that the ground floor flat is currently let at a rent of £475 pcm and the bedsits are let at a rent of £240 pcm each.
Tenure - The property is believed to be freehold and we await solicitors confirmation. Services - Mains water, gas, drainage and electricity are understood to be connected.
The agents have not tested or inspected the services or service installations and buyers should rely on their own survey.
Brochure Prepared - July 2024 Council Tax Band - East Lindsey Council Tax Band - A Viewings - By prior appointment through TES Property office in Louth admin.
Opening Hours - Monday to Friday 9:00am to 5:00pm Saturday 9:00am to 1:00pm
Value & comps
No previous sales on record.
Returns
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We're still gathering serviced-accommodation data for this area.
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
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