Flats 1-7, 9 Bank Street, Lincoln, Lincolnshire

HMO Sales Expert are specialists within the HMO and multi-unit marketplace across the UK. Our experienced team has a combined 100+ years of specific HMO experience including investing, managing, developing, valuing and selling. Every property is exclusively listed, direct to landlord, visited and quality-checked by our team and is sold with NO BUYER FEES or reservation costs. Full access to every financial detail and a pro-active and time-served team to assist you.

Located at 9 Bank Street, Lincoln, LN2 1DZ, this property comprises a block of seven self-contained luxury flats, each uniquely themed to include industrial, country cottage, monochrome, retro, neutrals, Scandi, and rainforest designs. Developed by Wilson Architects and Attie Homes Ltd, renowned for their high-quality architectural projects, these flats incorporate distinctive design elements such as hit-and-miss walls to create private sleeping areas. Extensively refurbished, the property delivers an annual gross income of £83,499.96, highlighting its robust financial performance.

Positioned close to major local employers such as Lincoln University and key retail businesses, the location is ideally suited to meet tenant needs, including proximity to top educational institutions and healthcare facilities. Its vicinity to Lincoln’s historic sites and green spaces enhances the lifestyle appeal, making it highly attractive to potential renters.

Transport links are excellent, with multiple bus stops within walking distance and Lincoln Central Rail Station nearby, ensuring superb connectivity. The property also features high-speed broadband and strong mobile network coverage across all providers, accommodating all tenant requirements.

The tenant demographic primarily includes students and young professionals, drawn by the proximity to Lincoln University. The unique and appealing living spaces ensure high rental demand from the student market. The local economy, supported by the educational, retail, and tourism sectors, fosters consistent rental demand.

Additional features of the property include modern amenities equipped with high-quality appliances and top-notch security measures, ensuring a safe living environment. Financially, the property maintains low running costs with benefits such as council tax exemptions for students and competitive rates for utilities and services, contributing to high net returns and a strong gross yield.

Managed by HMO Sales Expert, a firm specialising in premium HMO investments, the property benefits from expert advice and comprehensive management solutions, making it a highly attractive investment with substantial income potential and efficient operational management.

Developer’s Insight: “Bank Street is one of our own projects, transformed from an old office into seven uniquely themed luxury flats, enhancing both practicality and personal style for tenants.”

Income Breakdown (Monthly):

Flat 1: £977.50
Flat 2: £1,008.33
Flat 3: £1,020.00
Flat 4: £935.00
Flat 5: £1,062.50
Flat 6: £1,020.00
Flat 7: £935.00
Total Monthly Income: £6,958.33

Annual Income: £83,499.96

Expenditure Breakdown (Monthly):

Electric: £420.00
Water: £40.00
Council Tax: exempt
TV License: £87.00
Broadband: £34.00
Management: £905.00

Total Monthly Expenditure: £1,486.00

Annual Expenditure: £17,832.00

Net Annual Income: £65,667.96 (calculated as Total Income - Total Expenditure)

Gross Yield: 9.82% (calculated as Annual Income / Purchase Price)

Commentary:

The room rates and expenditure figures are based on current data. Investors will need to consider their own cost of lending and management structure. This financial summary does not account for potential vacancy periods or additional management costs not listed, which could impact net income and yield calculations.