The property comprises an attractive Victorian building, originally constructed circa 1880, which has since been thoughtfully converted to provide a total of fifteen self-contained residential apartments. The accommodation is arranged to include two spacious two-bedroom flats and thirteen well-proportioned one-bedroom flats, offering a diverse range of living options that cater to a broad tenant demographic.
Situated at 10–11 Avenue Road, the property retains many of its original period features, contributing to its architectural charm and character, while benefitting from modern updates in line with contemporary residential standards.
The building also includes a substantial basement area, which is currently utilised for storage purposes but may offer potential for alternative uses. To the rear of the property, there is a generously sized yard providing off-street parking for up to ten vehicles. Furthermore, the property benefits from two separate garages, also positioned at the rear.
The entire property is presently fully let, generating a consistent rental income and representing a secure investment opportunity with immediate returns. This well-maintained asset is ideally suited for investors seeking a prime residential holding in a desirable and well-connected location.
Location
Grantham is a historic market town located in the South Kesteven district of Lincolnshire, steeped in heritage and charm.
The town offers an excellent blend of traditional character and modern amenities, making it an increasingly popular choice for both families and professionals. Grantham boasts a wide range of shops, cafés, restaurants, and leisure facilities, alongside well-regarded schools and healthcare services. The twice-weekly market continues to draw visitors and locals alike, maintaining the town’s strong sense of community.
Grantham enjoys superb transport links, with direct rail services to London King’s Cross in just over an hour, making it ideal for commuters. The town is also conveniently positioned near the A1, providing easy access to both the North and South of the country.
Surrounded by picturesque countryside and historic landmarks, including Belton House and Woolsthorpe Manor, Grantham combines the tranquillity of rural living with the convenience of urban accessibility. It remains an appealing location for residents seeking a balance between lifestyle, connectivity, and affordability
Accommodation
Unit 10A - 64 sq m (688.0 sq ft)
Unit 10B - 64 sq m (688.0 sq ft)
Unit 10C - 47 sq m (505.9 sq ft)
Unit 10D - 48 sq m (516.7 sq ft)
Unit 10E - 29 sq m (312.2 sq ft)
Unit 10F - 50 sq m (538.2 sq ft)
Unit 10G - 52 sq m (559.7 sq ft)
Unit 10H - 24 sq m (258.3 sq ft)
Unit 11A - 56 sq m (602.8 sq ft)
Unit 11B - 45 sq m (484.4 sq ft)
Unit 11C - 56 sq m (602.8 sq ft)
Unit 11D - 45 sq m (484.4 sq ft)
Unit 11E - 56 sq m (602.8 sq ft)
Unit 11F - 50 sq m (538.2 sq ft)
Unit 11G - 58 sq m (624.3 sq ft)
Terms
TENANCIES: Fully let, income £82,000 per annum.
VAT: This site is not elected for VAT.
TENURE: Freehold
PROPOSAL: £1,200,000
Specification
- Substantial Victorian building comprising 15 self-contained apartments
- Mix of two-bedroom and one-bedroom units with strong rental appeal
- Generous on-site amenities including basement storage, yard, and 10 parking spaces
- Two additional garages offering further rental or storage potential
- Prime central Grantham location with excellent access to the A1, A52, and local amenities
- The building currently achieves a rental income of £82,000 per annum