For Sale - Over 55’s Retirement Apartment – Buy To Let Opportunity - 44 Lincoln Gate, Lincoln Road, Peterborough, Cambridgeshire, PE1 2RD - Asking Price £49,950

Extra Details

Property details
• For sale by private treaty
• Asking price £49,500
• Over 55’s retirement first floor apartment
• Two bedrooms
• Communal parking and gardens
• Some modernisation work required
• Sold with vacant possession
• Immediately available
• Approx. total floor area of 564 ft2
• Leasehold – unexpired lease term of approx. 87 years

OVERVIEW

For sale by private treaty, a two bedroom first floor over 55’s retirement apartment.

Lincoln Gate is located on the west side of Lincoln Road, Peterborough.

The property will benefit from some modernisation work, which once completed should provide a return on the investment from the prospective buyer.

The property is sold with vacant possession and is immediately available.

Upon entering the property, there is an entrance hall which leads to the living room, bedrooms and the bathroom. The bedrooms and living room are located to the rear elevation.
The living room floor is carpeted and the walls are plastered and painted. Access into the kitchen is via the living room.

The kitchen has vinyl flooring and a tiled splash back to the entire perimeter.

There is a stainless steel sink with drainer, oven/grill with electrical hobs above and a free-standing fridge freezer.

The two bedrooms both have carpet flooring and plastered and painted walls.

The bathroom is part tiles and part plastered and painted. There is a toilet, wash basin with storage underneath and a shower.

The high street is located about half a mile away from the property and Queensgate Shopping Centre is further down the road.

Peterborough City centre is located approximately 1 mile south from the property, accessed via the A15. Cambridge is approximately 45 miles south east from the property, taking approximately 1 hour to arrive via the A1 (M).

Floor Area
Approx. total floor area
52.40 m2 / 564 ft2
(taken from floorplan)

Asking Price
£49,500.

Services
We understand the property to have electricity, water and drainage.
The services have not been inspected by John Pye Property and we recommend that interested parties complete their own investigations in this respect.

Tenure
Leasehold – 125 years from 1st April 1986
Unexpired lease term of approximately 87 years.
The lease provides that the lease may be assigned to somebody under the age of 55 provided that the occupants of the property are 55 or over. If more than one occupier occupies the property, one occupant may be under 55 but the rest must be of qualifying age (i.e., 55 years of age or over).
Legal documents have previously been prepared and are available on request.

Note
The Buyer may be under 55 years of age but the occupants must comply with the age restrictions within the Lease

Council Tax
The property is rated in Council Tax Band B
Council Tax payable (2023/24) is approximately £1,378.64

EPC
Band C –https://find-energy-certificate.service.gov.uk/energy-certificate/9058-5054-7212-6321-8900

Broadband Checker
https://www.broadband.co.uk/checker/

Viewings
Please contact John Pye Property by email at property@johnpye.
co.uk or on 0115 9706060.