Boston, PE22 0TQ | Investment Property for Sale | VES-PE22-001

Opportunity to purchase a terraced house in Boston with the potential to generate 6% gross yield

£150,000

Terraced House

VES-PE22-001

INITIAL INVESTMENT

£68,400

GROSS RENT / YIELD

£9,000 / 6.0%

NET RENT / YIELD

£6,913 / 4.6%

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The property

TENANCY

Vacant

TENURE

Freehold

3 bedrooms

1 bathroom

1 reception room

737

Unfurnished

Property information

  • Recently built terraced house
  • Spread over 2 floors
  • Downstairs WC
  • Separate dining room and lounge
  • Family-size bathroom on the first floor
  • Property comes with allocated parking
  • Has an enclosed garden

This property is part of an exclusive development consisting of 9 houses. Identical units have already sold for £150,000 and above in the last 12 months. The remaining 2 units are in the process of letting.

Rental information

  • Expected rental income: £750 pcm; £9,000 pa

Location information

The property is located in the picturesque village of Sibsey, 5 miles outside Boston in Lincolnshire.

Notes

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£9,000

Equivalent of £750 per calendar month (PCM).

GROSS RENTAL YIELD

6.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£6,913

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.6%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£2,087

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Boston, Lincolnshire

Boston is a historic port and market town in Lincolnshire on the east coast of England. It lies approximately 100 miles north of London.

The A16 goes through the town connecting it with Grimsby and Peterborough, whilst the A52 connects Boston to Skegness, and Grantham, Bingham, West Bridgford, Nottingham, Stapleford, Derby, Stoke-on-Trent and Newcastle-under-Lyme in the west. The nearby A17 links Newark-on-Trent to King’s Lynn in Norfolk.

Boston railway station is managed by East Midlands Railway and provides regular trains to Nottingham via Grantham and Skegness. The town offers a number of attractions and activities such as St Botolph’s Church, Westwood Lakes, Blackfriars Arts Centre, Boston Aerodrome, Boston Belle, Boston Guildhall Museum, Bubblecar Museum and many more.

On Wednesday and Saturday open-air markets are held in the large open market place in the centre of town. On Wednesday the market also boasts an open-air auction and stalls on Bargate Green. Many independent specialist stores, cafes and boutiques can be found in the streets around the market place, whilst Pescod Square and Boston Shopping Park offer further shopping destinations.

The local economy’s most important employers are in food production, road haulage and logistics companies, the Port of Boston which handles more than one million tons of cargo per year, such as importing steel and timber and exporting grain and recyclable materials. The port is connected to the rail system and steel imports are being transported by rail daily to Washwood Heath in Birmingham. Other industries include shellfishing and tourism.

Sibsey Main Road,

Sibsey,

Boston,

Lincolnshire,

England,

PE22 0TQ

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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