1 bed flat for sale

The Park, Lincoln LN1

Property reference MH0883

An ideal first home or investment property, this top floor flat is being offered for sale with either vacant possession if buying as a private home, or it can be sold with a with a tenant in situ if required as it's currently being rented with a gross yield of 7.4% with a monthly rent of £650.00.

Please refer to the lease and ground rent and service charges below for more information.

Communal entrance

Hallway

Lounge 12'11" X 10'4"

Kitchen 10'0" X 9'0"

Bedroom 12'11" X 7'9"

Shower room 13'0" X 6'0"

location

Conveniently located within walking distance of Lincoln City centre, Albert House is a block of flats on The Park. The position makes it ideal as a first home or an investment property and its served by a wide range of services and amenities from the City and its vibrant life. It's also within close proximity to Lincoln train and bus stations.

EPC rating
The EPC rating for this home is D.

Council tax
The council for this property is Lincoln City Council and the band rating is A.

Leasehold title

Please note that there is a leasehold title on this property.

Full lease term: 125 years from 1 February 1990

Lease remaining: 90 years

The owner of the property will provide a lease of 999 years on purchase of the property.

The current landlords of the building purchased the freehold for the property in 2022 and each flat within Albert House is a member of the Albert House Lincoln Property Limited management company which has been set up. The buyer would also have the option to be a Director of the company.

Ground rent and service charge

We have been advised that the Ground Rent & Service Charge for the property is £100.00 a month which includes the building insurance and maintenance.

Agents note

Please be advised that the property details may be subject to change and must not be relied upon as an accurate description of this home. Although these details are thought to be materially correct, the accuracy cannot be guaranteed, and they do not form part of any contract. All services and appliances must be considered 'untested' and a buyer should ensure their appointed solicitor collates any relevant information or service/warranty documentation. Please note, all dimensions are approximate/maximums and should not be relied upon for the purposes of floor coverings.

Anti-money laundering regulations

We are required by law to conduct Anti-Money Laundering (aml) checks on all parties involved in the sale or purchase of a property. We take the responsibility of this seriously in line with hmrc guidance in ensuring the accuracy and continuous monitoring of these checks. Our partner, Movebutler, will carry out the initial checks on our behalf. They will contact you once your offer has been accepted, to conclude where possible a biometric check with you electronically.

As an applicant, you will be charged a non-refundable fee of £30 (inclusive of VAT) per buyer for these checks. The fee covers data collection, manual checking, and monitoring. You will need to pay this amount directly to Movebutler and complete all Anti-Money Laundering (aml) checks before your offer can be formally accepted.