Pygott & Crone says ..

Property Oracle says ..

The property is a 7 bedroom, 5 bathroom flat located on Portland Street, Lincoln. The list price is £500,000. The average property price in the area is £339,216, with an average price per square foot of £312. The property appears to be newly renovated or in excellent condition. All the rooms are modern and well-presented. The kitchen and bathrooms are contemporary in design and appear to be recently fitted. The property benefits from a small, gravelled rear yard. While this provides some outdoor space, it is not extensive. Given the list price of £500,000, the average property price in the area of £339,216 and the limited plot size, the price seems high. Nearby comparable properties are significantly lower in price, ranging from £76,000 to £250,000. The lack of square footage information for the subject property makes a precise price per square foot comparison impossible, hindering a definitive assessment of value. However, even considering the high number of bedrooms and bathrooms, the asking price appears above market value for the area. Further investigation into the specific features and potential rental income of this property would be needed to fully justify the price. The location is reasonably good, with several schools within a short distance, including those rated ‘Good’ by Ofsted. Lincoln railway station is also conveniently close by.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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