4 bed end terrace house for sale

Shakespeare Street, Lincoln LN5

Cash Buyers Preferred

A larger-than-average end-of-terrace property, offering spacious and highly flexible accommodation, ideally suited to investors or those seeking a substantial private/family home. The property is located on the outskirts of Lincoln city centre, providing convenient access to a wide range of local amenities.

The accommodation briefly comprises an entrance hallway, a ground floor bedroom (or additional reception room), a communal living/family area opening into a kitchen/diner, and to the first floor, a landing leading to three further double bedrooms, a shower room, and a separate bathroom with shower over bath.

The current owner successfully operated the property for a number of years as a student multi-let, with occupancy as recent as the 2022/2023 academic year. During this period, the property generated a gross annual income of £16,720 with three of the four potential letting rooms occupied, indicating scope for increased returns with full occupancy and updated rental values.

The property is conveniently located within easy walking distance of Lincoln city centre, offering a wide range of amenities including shops, supermarkets, schools for all ages, healthcare services, and a variety of restaurants and leisure facilities, as well as the University of Lincoln and local colleges.

To arrange a viewing, visit or use the Purplebricks App.

General Information

Important Information for Buyers

This is an unusual property, and prospective purchasers-particularly those requiring mortgage finance-should carefully consider the following points:

The property does not currently have a Certificate of Lawfulness in place to confirm compliance with the Article 4 Direction relating to HMOs in Lincoln.
While the seller believes the property may meet the necessary requirements, this is not guaranteed, and the seller will not be obtaining or providing such certification. This has been reflected in the competitive asking price.

There is a shared access via gates to the front of the property, which provides access to commercial premises at the rear. These premises operate as a licensed social club, situated directly behind the property.
Buyers intending to purchase with a mortgage are strongly advised to consult their lender at an early stage, as this arrangement may impact lending criteria, including loan-to-value ratios or overall eligibility.

The shared passageway results in part of the property (specifically two bedrooms) overhanging the access, creating a flying freehold.
While flying freeholds are relatively common in the area, this example is considered larger than average, and again, buyers should confirm acceptability with their lender or legal advisor prior to proceeding.

The property has been realistically priced to reflect all of the above considerations, presenting an excellent opportunity for the right buyer-whether as an investment or a spacious private residence.

While cash buyers are preferred due to the factors outlined, this is not an exclusive requirement, subject to individual lender approval.

For further information or to discuss the property in more detail, please contact the agent, Joe Snookes.

Property Ownership Information

Tenure

Freehold

Council Tax Band

B

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as "draft". Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts.

Successful buyers will be required to complete anti-money laundering and proof of funds checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.