Brayford Wharf East, Lincoln

Features

• 6 Bedrooms
• 6 En-Suite Shower Rooms
• Communal Lounge/Kitchen/Diner
• Prime Student Location
• Generating £37,440 Per Annum (2024/25)
• 100% Occupancy Record & 100% Rent Guaranteed
• Immediate ‘Exchange Of Contracts’ Available
• Being Sold Via ‘Secure Sale’

Summary

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £270,000

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.



Located in The Junxion, just a minute’s walk from the University of Lincoln and Students’ Union, this fully let six-bedroom en-suite apartment offers a high-yield, hands-off investment in one of the city’s most popular student developments. The apartment features a secure communal entrance hall, leading to six fully furnished bedrooms, each with a ¾ bed, study area, storage, TV point, electric radiator, and private en-suite shower room. The spacious communal lounge/kitchen/diner includes a modern kitchen with appliances, breakfast bar, leather sofas, TV, and electric radiator. Tenants also enjoy access to shared on-site amenities such as games rooms and TV lounges. Currently generating £37,440 per annum (2024/25), the property is fully managed by Mezzino, who handle all rent collection, maintenance, tenant liaison, and bills. Rent is paid to the owner three times a year and is guaranteed, even in cases of vacancy or non-payment.



Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or

services.


Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as The Auctioneers.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent. The property is available to be viewed strictly by appointment only via the Marketing Agent or The

Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively. The property is being sold via a transparent online auction. In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure that AML procedure are carried out in accordance with the law. The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’, and is accompanied by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’.

Full Details

Lease Details

There is a 200 year lease from 1 January 2004. The ground rent is £1 per annum (if demanded). The most recent service charge for 2024/2025 is £16,961.31 which comprehensively covers all outgoings, including maintenance and any necessary works on the apartments. This makes it an excellent hands-off investment opportunity. For further details, please contact the agent