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Residential Development, 20 Carline Road, Lincoln, LN1 1HG - Image 1
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Residential Development, 20 Carline Road, Lincoln, LN1 1HG

East Midlands

£475,000
Listed on 24/10/2023

Property Details

Bedrooms
N/A
Type
Detached house

Description

Nestled in a well-established residential neighborhood, this property offers a strategic position that is both serene and conveniently close to the vibrant heart of the city. Overlooking the historic castle and cathedral, it combines the charm of its surroundings with easy access to vital amenities within the Bailgate area. Residents will appreciate being just a short distance from Lincoln’s city center, which features an array of shops, restaurants, cultural attractions, and recreational facilities, including a multiplex cinema and marina. This site presents an excellent opportunity for renovation or investment. Comprising two approved building plots with planning permission for a pair of four-storey semi-detached houses equipped with garages, there is also potential for developing a larger detached residence, subject to further planning approval. The current design incorporates modern living spaces while taking advantage of the picturesque views this elevated location provides. The proposed layout for each semi-detached property encompasses generous living spaces across four floors. The basement is designed as an open-plan kitchen and living area that seamlessly connects to a garden through patio doors, accompanied by a games room — perfect for entertainment or family activities. The ground floor includes an integral garage and a versatile room that can function as either a study or bedroom, along with a bathroom for convenience. The first floor features two bedrooms sharing a Jack and Jill en-suite bathroom, while the second floor boasts a master bedroom complete with its own en-suite and Velux roof terrace offering breathtaking panoramic views over Lincoln. Each unit totals around 215 square meters of thoughtfully designed space. Essential services such as electricity, water, drainage, and gas are available nearby but have yet to be connected on-site. As the land is offered freehold with vacant possession, it presents a straightforward path for prospective buyers looking to capitalize on this unique development opportunity. For those interested in exploring this potential further, viewing arrangements can be made through Mundys.

Investment Analysis

(LN1 area)
Area Average
£231/sq ft
Avg Rent (weekly)
£182
Avg Yield
4.0%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£400,000 - £600,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
24
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (LN1)

Area prices are rising by +5.0% over the last 12 months
3 year growth: -8.4%
5 year growth: 4.8%
Investment Disclaimer: Analysis based on LN1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Residential Development, 20 Carline Road, Lincoln, LN1 1HG
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,740
Based on a loan of £356,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE