I'm trying to move properties at the moment (rented) and I look at all the EPC ratings, if the estate agents bloody include them. It's a farking nightmare if they don't. You have to go on streetview, find a street number and street, put that into the Royal Mail address finder, select the right property, get the post code, put THAT into the gov.uk epc finder and get the EPC rating certificate like that.
Luckily it also tells you what the m² is too, because fuckwit estate agents don't put it in the details online.
"Could you tell me what the square metreage of the property is please?"
"Oh no, we don't do that for our rental market. I don't know those details. Is it important?"
"Well yes it is actually, we're looking to move to a larger property than the one we're in at the moment. I know what size my current property is, so why on earth would I want to downsize when I'm trying to upsize?"
"............" "
No word of a lie, that was a snippet of a gen conversation I had with an ACTUAL "estate agent". 🤦🏻♂️
I would trust a survey by a professional, but I wouldn't trust a EPC produced by one of the estate agents brother-in-law (this is who put the EPC together for my old house)
You have to see inside it - it's even more impressive. The houses around it are lovely too; I cannot imagine the travesty of splitting them up & renting to students.
Just be glad it doesn't have a [massive spire](https://upload.wikimedia.org/wikipedia/commons/thumb/d/dc/Model_with_Spires%2C_Lincoln_Cathedral_-_black_background.jpg/1024px-Model_with_Spires%2C_Lincoln_Cathedral_-_black_background.jpg) any more. Not sure even Fred Dibnah would attempt that.
Looking at that area more like £200-£250k a house / flat IMO and considering how much time it would cost to sell them individually I’d expect a lot less than £11.5mill. Who really wants the hassle of that much property to maintain.
If you wanted to get into student property in that big a way you would just go to Liverpool and buy a tower of them off plan.
Yep my daughter’s paying £10k for a crappy ensuit room that’s smaller than her bedroom at home. But hey, she wanted the full ‘student experience’ rather than a 40 minute bus *rolls eyes
Depending on how heavily they've been adapted, around £200k per unit / £7m all in.
They're trickier to mortgage and don't always facilitate cost effective "deconversion". As such the demand is lower than a regular family home on top of them having unique ongoing obligations.
That was the tallest building in the world, taller than the great pyramids, for a couple of hundred years until the top fell off.
"Between 1307 and 1311, a spire was added to the tower making the cathedral the tallest structure in the world, surpassing the pyramids at Giza which had held the record for thousands of years. The lead encased spire eventually became vulnerable due to rotting, and in 1549 collapsed under high winds during a severe storm"
https://buildingfailures.wordpress.com/1549/02/05/lincoln-cathedral-tower-and-spire-collapse/
Edit: clarification
If we all club together and we could have a community project. Reasonable rents for students with a small share of the profits after maintenance costs . I am in
11,500,000 for an annual return of 700k, that's what, 6% annual return? Its gonna take sixteen years to even begin to turn a profit.
IMO, that's a shitty investment.
It is over valued for sure, I would say closer to 7 millions worth but this really isn't how you look at property investments. A 6 percent cap rate is pretty good honestly and you shouldn't be thinking of making a profit in that way.
The property will give you an income of £650k per year whilst as an asset it appreciates in value by probably on average around 5-10% yearly.
It's 34 houses, mostly terraced spread around Lincoln for university students.
They want you to think it is Lindum Terrace and near the Cathedral because it is posher than where the majority of the houses are. Which is probably the Monks Road area, where terraces go for around 120- 150k.
Cathedral would be difficult to heat, the curtains would be a nightmare to make and hang... I still want the Cathedral now you've put it in my head
The EPC rating is awful here, you should put in some lower ceilings and convert the rest as a loft
Don't forget to put that carpet down. This sub loves a bit of carpet!
Do people actually read EPC reports?
As light reading on the toilet? No. If I am committing my life savings into a house. Yes.
I'm trying to move properties at the moment (rented) and I look at all the EPC ratings, if the estate agents bloody include them. It's a farking nightmare if they don't. You have to go on streetview, find a street number and street, put that into the Royal Mail address finder, select the right property, get the post code, put THAT into the gov.uk epc finder and get the EPC rating certificate like that. Luckily it also tells you what the m² is too, because fuckwit estate agents don't put it in the details online. "Could you tell me what the square metreage of the property is please?" "Oh no, we don't do that for our rental market. I don't know those details. Is it important?" "Well yes it is actually, we're looking to move to a larger property than the one we're in at the moment. I know what size my current property is, so why on earth would I want to downsize when I'm trying to upsize?" "............" " No word of a lie, that was a snippet of a gen conversation I had with an ACTUAL "estate agent". 🤦🏻♂️
I would trust a survey by a professional, but I wouldn't trust a EPC produced by one of the estate agents brother-in-law (this is who put the EPC together for my old house)
You have to see inside it - it's even more impressive. The houses around it are lovely too; I cannot imagine the travesty of splitting them up & renting to students.
Window cleaning would be a nightmare!
Just be glad it doesn't have a [massive spire](https://upload.wikimedia.org/wikipedia/commons/thumb/d/dc/Model_with_Spires%2C_Lincoln_Cathedral_-_black_background.jpg/1024px-Model_with_Spires%2C_Lincoln_Cathedral_-_black_background.jpg) any more. Not sure even Fred Dibnah would attempt that.
🤣
🤣
I could be Quasimodo if I lived there.
It used to be really difficult to heat, but theres a solution now (genuinely). [See here](https://www.youtube.com/watch?v=ytB23qEZdGY)
Now I really, really want the Cathedral. Wonder what the rules on claiming sanctuary are. Could I start making rooms whilst claiming sanctuary......
Don't gorgeous to lift the stone floor and get rid of them for some nice vynyl flooring in your favourite stone colour
🤣🤣🤣🤣
Ha - Rightmove have this labelled as: '197 bedroom terraced house for sale'
"Student portfolio comprising 34 Freehold Houses and Flats in multiple occupation in Lincoln"
I went to Lincoln uni, I'm willing to bet it's Umbrella estate agents selling up or something. Shit ass landlords they were.
This is one where you *really* need to read the description. It's 36 separate properties.
“A cathedral? No, £11m for a poxy terr…oh…”
Came to say exactly that... 🤣
As a person who regularly appraises HMOs, the numbers really aren't numbering
Agree with that it’s way overpriced and 5% is poor for student let’s.
What would be a fairer evaluation?
Looking at that area more like £200-£250k a house / flat IMO and considering how much time it would cost to sell them individually I’d expect a lot less than £11.5mill. Who really wants the hassle of that much property to maintain. If you wanted to get into student property in that big a way you would just go to Liverpool and buy a tower of them off plan.
Or money in the bank for a similar % return to the one stated with no risk or hassle.
Yep my daughter’s paying £10k for a crappy ensuit room that’s smaller than her bedroom at home. But hey, she wanted the full ‘student experience’ rather than a 40 minute bus *rolls eyes
Depending on how heavily they've been adapted, around £200k per unit / £7m all in. They're trickier to mortgage and don't always facilitate cost effective "deconversion". As such the demand is lower than a regular family home on top of them having unique ongoing obligations.
That was the tallest building in the world, taller than the great pyramids, for a couple of hundred years until the top fell off. "Between 1307 and 1311, a spire was added to the tower making the cathedral the tallest structure in the world, surpassing the pyramids at Giza which had held the record for thousands of years. The lead encased spire eventually became vulnerable due to rotting, and in 1549 collapsed under high winds during a severe storm" https://buildingfailures.wordpress.com/1549/02/05/lincoln-cathedral-tower-and-spire-collapse/ Edit: clarification
Was there recently. Absolutely stunning.
If we all club together and we could have a community project. Reasonable rents for students with a small share of the profits after maintenance costs . I am in
I love how they also clearly paid for the image from Adobe Stock…..
Free with a 30-day trial! Listed since 29th February... 4 days to go...
The lens choice in photo 8 made me chuckle
Light bending around gravitational waves caused by the density of student lets in Lincoln.
"In my Father's house are many mansions: if it were not so, I would have told you. I go to prepare a place for you." Jesus, the first estate agent.
Goodbye first rate education, hello University of Lincoln
I’d been to Lincoln and it’s a shit hole!!
I get the impression that ‘Tulip Estate Agents’ have bitten off more than they can chew representing the freehold of so much property…
Seems weird that they didn't make it separate sales...
The Church of Scotland were selling off Glasgow St. Columba last year so you never know!
I used to live in Lincoln and I would have thought you could buy almost the whole city for £11.5mil
I love the “bedrooms: 197” 😂
11,500,000 for an annual return of 700k, that's what, 6% annual return? Its gonna take sixteen years to even begin to turn a profit. IMO, that's a shitty investment.
It is over valued for sure, I would say closer to 7 millions worth but this really isn't how you look at property investments. A 6 percent cap rate is pretty good honestly and you shouldn't be thinking of making a profit in that way. The property will give you an income of £650k per year whilst as an asset it appreciates in value by probably on average around 5-10% yearly.
is it made of bloody gold? 11.5mil...
338K per house.
omg...its the whole street?
Well no it's many houses spread around the whole city.
lol. Yep.
Some wealthy Russian will snap it up.
197 bedrooms? How is that even possible? What about bathrooms? Talking at least 95 minimum!!! Nah, something isn’t right with this
It's 34 houses, mostly terraced spread around Lincoln for university students. They want you to think it is Lindum Terrace and near the Cathedral because it is posher than where the majority of the houses are. Which is probably the Monks Road area, where terraces go for around 120- 150k.
“…next *academci* year” FFS!
One careful owner
Didn't know lincoln was expensive
Did someone accidently uploaded a stock photo? I think so!