Opportunity to purchase a detached bungalow in Spalding generating £8,340 rent pa & gross yield of 4.4%
£190,000
Detached bungalow
VES-PE11-008
INITIAL INVESTMENT
£57,000
Based on
deposit: £47,500
stamp duty: £7,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£8,340
GROSS YIELD
4.4%
The property
TENANCY
Tenanted
TENURE
Freehold
2 bedrooms
1 bathroom
1 reception room
653
Unfurnished
Property information
- Spread over 1 floor
- 2 x bedrooms
- Living
- Kitchen
- Access to the rear garden via the kitchen
- Bathroom
- EPC rating D
- Council tax band B
- Monthly rental income £695
Location information
- The property is located outside Spalding town centre
- The centre is a 16-minute walk from the property
- Spalding railway station is about 1 mile from the property
- There is a convenience store a 5-minute walk away
Note
Please note that Vesta has not visited this property and the vendor has provided all material.
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.
About Spalding, Lincolnshire
Spalding is a market town in the East Midlands. This town is situated on the River Welland in the South Holland district of Lincolnshire, around 18 miles north of Peterborough and 49 miles east of Leicester.
This area is serviced by Spalding railway station which lies on the Lincoln Central – Peterborough Line and is managed by East Midland Trains. East Midland Trains operates an hourly service from Monday to Saturday in each direction with southbound services towards Peterborough and northbound services to Sleaford and Lincoln. Some of these services continue onwards from Lincoln to Newark North Gate and there is a daily evening service to Nottingham via Peterborough and Melton Mowbray.
In town there are a variety of local supermarket options including a Sainsburys, Lidl, Aldi and a Marks and Spencer Food Hall. Just outside of the town centre there is the Springfields Shopping Outlet & Festival Gardens which features over 60 stores, including all national favourites and some boutiques to make for a well-rounded retail experience. This outlet also has a selection of dining options and the festival gardens which offers a beautifully landscaped area including designs by Charlie Dimmock and Kim Wilde.
Spalding is at the heart of a major region of flower and vegetable cultivation due to the rich silty soil. There are many companies within the agriculture field hiring people in the area, such as garden centres, plant nurseries as well as various vegetable packing plants. Some of the big employers in town are FESA UK LTD, Greencore, Fowler-Welch Coolchain and Lloyd Loom of Spalding.
This location could be ideal for young families looking for schooling options for their children in walking distance within the town. Some of the primary schools in town are Spalding Parish Church of England Day School and Wygate Park Academy, both of which are co-educational up to the age of 11. There are two grammar schools in town Spalding Queen Elizabeth Royal Free Grammar School for boys and Spalding High School for girls, both of which have a mixed sixth form.
Pilgrim's Way,
Spalding,
Lincolnshire,
England,
PE11 1LJ
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