Spalding, PE11 1UQ | Investment Property for Sale | VES-PE11-002

Semi-Detached HMO in Spalding generating £25,200 in rent per annum & a gross yield of 13.3%

£190,000

Semi-Detached House

VES-PE11-002

INITIAL INVESTMENT

£86,040

GROSS RENT / YIELD

£25,200 / 13.3%

NET RENT / YIELD

£19,893 / 10.5%

The property

TENANCY

Tenanted

TENURE

Freehold

4 bedrooms

2 bathrooms

1 reception room

1,231

Fully Furnished

Floorplans

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

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£25,200

Equivalent of £2,100 per calendar month (PCM).

GROSS RENTAL YIELD

13.3%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£19,893

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

10.5%

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

FULLY MANAGED OPERATING COSTS

£5,307

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

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

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.

Saltern Drive,

Spalding,

Lincolnshire,

England,

PE11 1UQ

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