Avenue Terrace, LN1

4 bedroom, terraced property in the uphill area of the City of Lincoln.

Currently being utilised as student accommodation, producing a rental income of ?20,000 per annum, giving a gross yield of 10.5%, with the potential to increase this year on year in line with market rent.

Accommodation briefly comprises of: Double Bedroom to the Lower Ground Floor, Living Room, Kitchen and Double Bedroom to the Ground Floor and Two further Double Bedrooms and Bathroom to the First Floor.
Externally to the rear aspect is a decked patio area with further outdoor space laid to gravel and access to the front aspect.

Early and internal viewing is advised to truly appreciate the accommodation this property has to offer.

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as `The Auctioneer`.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent. The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers` obligations and sellers` commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

Bedroom 1 - 11'10" (3.61m) x 11'10" (3.61m)
Wooden door to front aspect, window to front aspect, radiator, carpet, access to Ground Floor

Living Room - 11'10" (3.61m) x 11'10" (3.61m)
Access to Lower Ground Floor, window to rear aspect, radiator, carpet, leading to

Kitchen - 6'2" (1.88m) x 12'7" (3.84m)
UPVc door to side aspect, window to side aspect, radiator, laminate wood floor. Fitted with a range of wall and base units with wood work surfaces and spaces for under the counter appliances

Bedroom 2 - 11'10" (3.61m) x 12'4" (3.76m)
Window to front aspect, radiator, carpet

Bedroom 3 - 11'10" (3.61m) x 11'10" (3.61m)
Window to rear aspect, radiator, carpet

Bedroom 4 - 6'11" (2.11m) x 9'6" (2.9m)
Window to front aspect, radiator, carpet

Bathroom - 4'7" (1.4m) x 12'7" (3.84m)
Window to front aspect. Fitted with three piece suite consisting of low level WC, vanity sink with cabinet and walk in shower. Heated towel rail, laminate wood flooring,



Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Council Tax
Lincoln City Council, Band A