6 bed block of flats for sale

Victoria Street, Grantham NG31

Please quote TR0236 – A rare opportunity to acquire a fully let freehold residential investment comprising four self-contained apartments in a well-established location close to Grantham town centre. Producing an immediate rental income of approximately £24,900 per annum, the property offers an attractive gross yield of around 7.1% with room to grow this in the future. The accommodation comprises two one-bedroom and two two-bedroom apartments, all occupied under Assured Shorthold Tenancy Agreements, providing immediate income from day one. The block has a proven history of strong tenant demand, with long-term occupancy and minimal void periods, while there remains potential for future rental growth as tenancies naturally evolve, subject to market conditions. An excellent opportunity for private landlords, portfolio investors or those seeking to acquire a ready-made residential investment with scope to enhance returns over time.

Agents note - We are advised by the seller that the property is owned free from any mortgage and is currently held as a long-term investment. The seller has confirmed that the only recurring annual expenditure associated with the building is the building's insurance, currently approximately £750 per annum. Based upon the current annual rental income of £24,900, this equates to a net annual income of approximately £24,150, representing an approximate net yield of 6.9% at the asking price of £350,000, before allowing for any purchaser's own management, maintenance or void costs. We are also advised that the electricity supply serving the communal lighting to the building is currently connected to Apartment 1C. All information has been provided by the seller and should be independently verified by prospective purchasers and their legal representatives as part of the conveyancing process.


The accommodation includes

apartment 1 - is a ground-floor apartment with its own private door from Victoria Street. Access to the property is through a half-obscured UPVC double-glazed door into the Entrance Hall, which will have a newly laid wooden floor, wall-mounted electric storage heater and a smoke alarm.

Lounge measuring 14’3” x 9’10” (4.34m x 3.00m) - Having a UPVC double-glazed window to the front aspect, wall-mounted electric storage heater and a wall-mounted electric consumer unit.

Kitchen measuring 9’5” x 7’1” (2.87m x 2.16m) - Having two UPVC double-glazed windows to the side aspect, a roll edge work surface with inset stainless steel sink and drainer with high-rise mix tap over, also inset to the work surface is a four-in ceramic hob, above this is an integrated extractor hood, and beneath the hob is a stainless steel single electric oven. Cupboards and drawers provide storage to the baseline with matching cupboards to the eye line. There is a large cupboard which can house a freestanding fridge freezer, space and plumbing for a washing machine and a door which provides access to the airing cupboard, which houses an oversized hot water tank with shelving for storage.

Bedroom one measuring 11’10” x 9’6” (3.61m x 2.90m) - Having a UPVC double-glazed window to the rear aspect and a wall-mounted electric storage heater.

Bedroom two measuring 9’9” x 9’7” (2.97m x 2.92m) - Having two UPVC double-glazed windows to the side aspect and a wall-mounted electric convection heater.

Shower room measuring 6’5” x 5’5” (1.96m x 1.65m) - Having an obscured UPVC double-glazed window to the rear aspect, an electrically operated towel radiator, wall-mounted electric fan heater, integrated extractor fan, luxury vinyl tile floor and a three-piece white suite comprising of a low-level WC, hand wash basin and a corner shower cubicle with sliding glazed shower screen and an electric shower.

Apartment 1A - is a ground-floor apartment with its own private door from Victoria Street. Having a half-obscured double-glazed door into the Entrance Hall, with a wooden floor, and a half-obscured glazed door to the Living Kitchen.

Living kitchen measuring 19’8” x 10’10” (5.99m x 3.30m) - Having a UPVC double-glazed window to the front aspect, wooden floor and two wall-mounted electric storage heaters. In the Kitchen area, there is a roll-edge work surface with an inset stainless steel sink and drainer with a high-rise mixer tap over, a four-ring stainless steel electric hob with an extractor hood above and a stainless steel single electric oven beneath. Cupboards and drawers provide storage, with a built-in fridge freezer, integrated washing machine and a breakfast bar which provides seating.

Inner hallway - Having a wooden floor and a door to the bedroom.

Bedroom one measuring 11’10” x 9’2” (3.61m x 2.79m) - Having a UPVC double-glazed window to the front aspect, wall-mounted electric storage heater, wooden floor and a range of fitted wardrobes with mirrored doors to the front and an airing cupboard which houses the hot water tank with shelving for storage.

Bathroom measuring 6’7” x 6’4” (2.01m x 1.93m) - Having an electrically operated heated towel radiator, continuation of the wooden flooring and a three-piece white suite comprising a low-level WC, hand wash basin and a panelled bath with mixer tap with electric shower over and a glazed shower screen. There is an integrated extractor fan, recessed spot lighting and a wall-mounted electric fan heater.

Apartments 1B and 1C - Accessed by two UPVC doors from Victoria Street to the communal hallway, with stairs rising to the first floor; both these are first-floor apartments, and on the communal landing, there are a pair of UPVC double-glazed windows to the side aspect, a wooden floor and a Velux window in the internal hallway offering natural light.

Apartment 1B - Accessed by its own private door into the Entrance Hall from the first floor communal hall, having a laminate floor, wall-mounted electric storage heater, a smoke alarm, and an intercom telephone.

Lounge measuring 12’6” x 10’1” (3.91m x 3.07m) - Having two UPVC double-glazed windows to the side aspect, one UPVC double-glazed window to the front aspect, a laminate floor and a wall-mounted electric storage heater.

Kitchen measuring 7’9” x 7’0” (2.36m x 2.13m) - Having a UPVC double-glazed window to the front aspect, ceramic tile floor and a wall-mounted electric convector heater. Roll edge work surface with inset stainless steel sink and drainer with high-rise mixer tap over, a four-ring ceramic hob, above this is an integrated extractor hood and beneath is a stainless steel single electric oven. Cupboards and drawers provide storage to the baseline with matching cupboards to the eye line; there is space and plumbing for a washing machine and a tall standing cupboard which can house a freestanding fridge freezer.

Bedroom one measuring 12’8” x 9’2” (3.86m x 2.79m) - Having a UPVC double-glazed window to the rear aspect, two UPVC double-glazed windows to the side aspect, a wall-mounted electric storage heater, and a laminate floor.

Bedroom two measuring 9’0’ x 6’0: (2.74m x 1.83m) - Having a UPVC double-glazed window to the rear aspect, wall-mounted electric convection heater, laminate floor, double doors provide access to a storage cupboard which houses the hot water tank and electric consumer unit, along with a shelf and hanging rail for storage.

Refitted bathroom measuring 7’4” x 5’5” (2.24m x 1.65m) - Having a wall-mounted electric fan heater and a three-piece white suite comprising a low-level WC, hand wash basin and a panel bath with mixer tap and shower attachment, there is an electric shower over and a glazed shower screen, integrated extractor fan, wall-mounted electric fan heater, shaver socket and loft hatch.

Apartment 1C – Accessed by its own private door into the Entrance Hall from the first-floor communal hall. Access is through a solid door into the Entrance Hall, having a loft hatch into the roof void above and a laminate floor.

Living kitchen measuring 15’4” x 13’9” (4.67m x 4.19m) - Having two UPVC double-glazed windows to the front aspect and two wall-mounted electric storage heaters. In the Kitchen area, there is a square edge work surface with an inset coloured sink and drainer with high rise mixer tap over, four ring ceramic hob situated above a stainless steel single electric oven with a stainless steel extractor hood above, there is space for a freestanding fridge freezer, space and plumbing for a washing machine and a smoke alarm.

Bedroom one measuring 15’4” x 11’0” (4.67m x 3.35m) - Having a UPVC double-glazed window to the front aspect, a door providing access to the airing cupboard, which houses the hot water tank, and an electric consumer unit with shelving for storage.

Refitted bathroom measuring 7’5” x 4’9” (2.26m x 1.45m) - Three steps up from the Bedroom provide access into the refitted Bathroom, having an obscured UPVC double-glazed window to the front aspect, wall-mounted electric fan heater and a three-piece white suite comprising a low-level WC, hand wash basin and a panel bath with electric shower over and a glazed shower screen.

Outside - In respect of the Victoria Street block, there is a gate to the right-hand side where the bins are stored, and there is also an outside toilet. To the rear of the property, there is a small open yard area.

Mains services – Mains drainage, water and electricity are connected.

Council tax - This home is in Council Tax Band A according to the South Kesteven District Council website

agents note - Please be advised that the property details may be subject to change and must not be relied upon as an accurate description of this home. Although these details are considered materially correct, the accuracy cannot be guaranteed, and they do not form part of any contract. Where a title plan map image is available, we will use this in all marketing, but if it is not, we will add lines to what we believe are the boundaries of the subject property. All services and appliances must be considered 'untested', and a buyer should ensure their appointed solicitor collates any relevant information or service/warranty documentation. Please note that all dimensions are approximate/maximums and should not be relied upon for floor coverings.

Enhancement notice - To present the property in its best light, some external images may have been enhanced to reflect more typical seasonal conditions (for example, sunnier skies or dry ground). These adjustments are purely visual and do not change the property itself in any way.

Anti-money laundering regulations - We are required by law to conduct Anti-Money Laundering (aml) checks on all parties involved in selling or purchasing a property. We take this responsibility seriously in line with hmrc guidance and ensure the accuracy and continuous monitoring of these checks. Our partner, Movebutler, will conduct the initial checks on our behalf. They will contact you once your offer has been accepted to conclude, where possible, a biometric check with you electronically.

As an applicant, you will be charged a non-refundable fee of £30 (inclusive of VAT) per buyer for these checks. The fee covers data collection, manual checking, and monitoring. You must pay this amount directly to Movebutler and complete all Anti-Money Laundering (aml) checks before your offer can be formally accepted.

Referral Fees - We offer various services through our trusted partners to support buyers and sellers. While you are welcome to choose any provider, if you require a solicitor to manage your purchase or sale, we can refer you to one of our trusted, experienced local solicitors with whom we work regularly. We may receive a referral fee of up to £250 if you choose their services. We can refer you to one of our qualified financial advisors for mortgage or remortgage assistance. We may receive a referral fee, typically 20% of the procuration fee they collect from the lender.