Brown&CoJHWalter says ..

Property Oracle says ..

This property in Lincoln city centre presents a mixed investment opportunity. It’s a multi-unit property described as a prime city centre investment. The building comprises three one-bedroom apartments, one two-bedroom apartment, and a ground-floor bistro. This suggests potential for rental income, which is highlighted by the mention of current annual income of £41,780. However, the property shows signs of needing some work, notably in the outdoor space and possibly parts of the building’s exterior. The lack of provided square footage for the main building makes accurate valuation challenging. The listing mentions lapsed planning permission (2012/0246/RN), suggesting further development potential subject to planning permission, though this should be investigated separately. The interior photos are decent and suggest a modern interior that likely appeals to tenants. The photos of the exterior are, however, less appealing and suggest that maintenance will be required. The price of £550,000 seems high, without a thorough inspection to ascertain the required work, and therefore may be overpriced. Potential buyers should have a full structural survey conducted to thoroughly investigate the property’s condition before proceeding with a purchase.

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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