12 bed block of flats for sale

Rhodes House, Northgate, Sleaford, Lincolnshire NG34

For sale by Online Auction - 29th ofApril 2026

tcpa are delighted to present this large block of flats in town location
Each flat has his own entry and are very large size with Victorian high ceilings
All flats are tenanted and providing guaranteed rent for day one
Some of the flats have long lasting tenants and loyal tenants and may benefit from increase in rent
Rare investment opportunity and can be improved should new owner opt to divide the titles, create leasehold title for each flat and create ground and service rent, the building benefit from a dry very large basement that can be converted to 2 flats

Flat1: 2 large bedroom, reception room, hallway, bathroom achieving £1,000
Flat 2: 3 bedroom shared accommodation 1 room tenanted achieving £435 with two empty so potential to achieve £1305
Flat 3: 2 bedroom large accommodation acheiving £290 with potential to increase to £570
Flat 4: Large 3 bedroom achieving £530 with potential to increase to £950
Flat 5: 2 bedroom achieving £290 with potential to increase to £950

Potential yearly income of £57,300 with a huge poteial yield of 14%

The building is looked after and have a lot of historical feature like shutters, high ceiling, large accommodation and sash windows

Some of the flats need scheme of modernisation