12 bed block of flats for sale

Rhodes House, Northgate, Sleaford, Lincolnshire NG34

For sale by Online Auction - 28th ofMay 2026

Prime Town Centre Investment High-Yield Residential Block

tcpa are pleased to present this substantial and characterful block of flats, ideally positioned in a sought-after town centre location. This impressive Victorian property offers generous living spaces, high ceilings, and strong investment fundamentals from day one.

Each apartment benefits from its own private entrance and retains attractive period features, including sash windows and original shutters. The building is well maintained and includes a large, dry basement with significant development potential.

Investment Highlights
Fully income-producing asset all units currently tenanted
Immediate rental income from completion
Scope for rental uplift across multiple units
Asset management opportunity potential to split titles into leasehold units and introduce ground rent/service charges
Development potential basement suitable for conversion into two additional flats (subject to consents)
Strong tenant history with several long-term, reliable occupants
Current & Potential Rental Income
Flat 1: 2-bedroom apartment currently achieving £1,000 pcm
Flat 2: 3-bedroom HMO 1 room let (£435 pcm), 2 vacant potential £1,305 pcm
Flat 3: 2-bedroom apartment currently £290 pcm potential £570 pcm
Flat 4: Large 3-bedroom apartment currently £530 pcm potential £950 pcm
Flat 5: 2-bedroom apartment currently £290 pcm potential £950 pcm

Estimated Total Annual Income (Fully Let): £57,300
Projected Yield: Approx. 14%

Additional Notes
Some units would benefit from a programme of modernisation, offering further opportunity to enhance rental value
Rare chance to acquire a high-yielding multi-unit asset with both immediate income and long-term upside
Auction Details

The property is being offered via auction on 28 May 2026.
Pre-auction offers may be considered.

For further information or to register your interest, please contact:
Town & Country Property Auctions East Midlands Office