Spa Building, Lincoln, LN2
East Midlands
£150,000
Listed on 02/09/2026
Listed on 02/09/2026
The listing
Property details
Bedrooms
4Type
TerracedArea
1574 sqftFeatures
- Garden
- Parking
Description
Offered with no onward chain, this four-bedroom end-terrace house is arranged over three floors and has a rear garden with side access. The front-facing rooms have views towards Lincoln Cathedral, and permit parking is available nearby at the front. The property is vacant and offers scope for improvement, with a layout that may suit a range of residential or rental uses.
On the ground floor, a spacious lounge leads towards an inner hall with access to two cellars and the kitchen. The kitchen has space for wall and base units and opens directly onto the garden. Stairs from this area rise to the first floor; a separate existing staircase from the lounge is currently blocked off.
The first floor contains a large front bedroom, a further rear bedroom and a family bathroom. Two additional large bedrooms occupy the top floor and are reached by separate staircases. The listing also notes the possibility of converting the house back into two properties, subject to planning permission and all necessary consents. Any such proposal would require feasibility and consent checks before being relied upon.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
77out of 100
Grade BGood opportunity
Confidence: MEDIUM
At £150,000, this substantial three-storey end-terrace is priced at about £95 per sq ft, well below the local average of £252 per sq ft — a strong entry point for a value-add project. It offers four bedrooms, generous rooms, two cellars, an enclosed rear garden and views towards Lincoln Cathedral. The interiors are tired, with worn finishes and staining in several areas, giving a buyer scope to refresh the property and make the most of its space. The exterior views show no obvious major structural failure, though photographs cannot confirm concealed or roof defects.
The listing also highlights the possibility of converting it back into two properties, subject to planning and other consents; treat that as an option to investigate rather than an assured outcome. Overall, the low asking price and substantial accommodation underpin a good opportunity, with the project and location tempering the appeal.
Key opportunities
- The three-storey layout and multiple large rooms give scope to refresh the existing four-bedroom home and tailor the accommodation to its next use.
- The listing’s potential to convert back into two properties offers an avenue to explore, subject to planning and relevant consents.
- An enclosed garden with established planting, side access and cathedral views adds character and gives room to improve the outdoor setting.
Key risks
- Staining and patchy finishes across several areas, together with worn flooring and dated fittings, make this a substantial multi-room programme; allow time to address the interior rather than plan for a cosmetic refresh.
- The photographs do not establish the condition of the roof or concealed parts of the property, so these should be checked during due diligence.
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Transport
Nearest stations
Lincoln Central Rail Station
0.4 miles
Train · Lincoln
Hykeham Rail Station
3.7 miles
Train · North Hykeham
Saxilby Rail Station
6.0 miles
Train · Saxilby
Swinderby Rail Station
8.2 miles
Train · Swinderby
Contains public sector information from NaPTAN (DfT) licensed under the Open Government Licence v3.0.
Finance
Mortgage calculator
Illustrative repayments based on the asking price, not a mortgage offer.
£
£
£
%
%
years
Current average 2-year fixed rate is 5.13%
Current average variable rate is 6.58%
Monthly Repayments
£613
Based on a loan of £112,500 over 30 years at 5.13% 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.
Tax
Stamp duty calculator
Indicative tax based on the asking price and the options you select.
Pricing
Price history
-9.1% since listed
£150,000£15,000(-9.1%)
03/10/2026£165,000Initial listing
01/09/2026Services
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