2 Bed Flat, Cash/Bridging Only, Louth, LN11 8DD, £110,000

4 Harrison Warehouse Eastgate, Louth, LN11 8DD - 4 months ago

Leasehold
Cash
~72 m²
+8 photos

ValuationFair Value

Sold Prices£60K - £215K
Sold Prices/m²£1.4K/m² - £2.4K/m²

 

 

Square Metres

~71.60 m²
Price/m²£1.5K/m²

Value Estimate

£110,000

 

 

End Value (After Refurb)

£154,569

Uplift in Value

+41%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£6,700

Refurb Costs

£29,026

Bridging Loan Interest

£2,888

Total Cash In

£67,864

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£154,569

Mortgage (After Refinance)

£115,927

Mortgage LTV

75%

Cash Released

£33,427

Cash Left In

£34,437

Equity

£38,642

Rent Range

£425 - £875

Rent Estimate

£617

Running Costs/mo

£626

Cashflow/mo

£-9

Cashflow/yr

£-113

Gross Yield

7%

Local Sold Prices

20 sold prices from £60K to £215K, average is £110K. £1.4K/m² to £2.4K/m², average is £1.7K/m².

PriceDateDistanceAddressBeds 
£82K12/200.05 mi1, Forlander Place, Louth, Lincolnshire LN11 7WA2
£104K06/230.05 mi4, Forlander Place, Louth, Lincolnshire LN11 7WA2
£92K06/210.16 mi13, Mallard Ings, Louth, Lincolnshire LN11 0FD2
£98K03/230.16 mi13, Mallard Ings, Louth, Lincolnshire LN11 0FD2
£110K11/220.16 mi11, Mallard Ings, Louth, Lincolnshire LN11 0FD2
£113.5K03/220.2 mi8, Canal Close, Louth, Lincolnshire LN11 0FH2
£107K03/220.2 mi8a, Canal Close, Louth, Lincolnshire LN11 0FH2
£144K10/210.35 mi2a, Brackenborough Road, Louth, Lincolnshire LN11 0AE2
£115.5K01/220.43 mi2, James Court, Louth, Lincolnshire LN11 0JY2
£117.5K03/210.43 mi10, James Court, Louth, Lincolnshire LN11 0JY2
£112K04/210.43 mi3, James Court, Louth, Lincolnshire LN11 0JY2
£120K01/210.45 mi65, Mount Pleasant, Louth, Lincolnshire LN11 9DW2
£80K03/210.53 mi8, Spring Court, Louth, Lincolnshire LN11 9PR2
£129K11/230.53 mi2, Spring Court, Louth, Lincolnshire LN11 9PR2
£110K03/230.59 mi23b, Northgate, Louth, Lincolnshire LN11 0LT2
£105K02/220.65 mi15, Northgate Court, Louth, Lincolnshire LN11 0LZ2
£85.5K06/230.67 mi91, Aswell Street, Louth, Lincolnshire LN11 9HW2
£120K08/230.7 mi199, Newmarket, Louth, Lincolnshire LN11 9EJ2
£60K08/210.76 miTop Flat, 54, Upgate, Louth, Lincolnshire LN11 9EX2
£215K06/210.84 mi4a, School House Lane, Louth, Lincolnshire LN11 9AQ2

Local Rents

31 rents from £425/mo to £875/mo, average is £600/mo.

RentDateDistanceAddressBeds 
£55005/240.02 mi3 Waterside Mews Eastgate Louth LN11 8DD2
£60012/240.02 miOld School Court, Eastfield Road, Louth2
£62505/240.09 miCommercial Road, Louth2
£65006/240.3 miParsons Halt, Louth2
£69505/240.32 miHarveys Lane, Louth. LN11 8BP2
£62506/240.32 mi7 Newbridge Court Newbridge Hill Louth LN11 0NQ2
£65005/240.34 miPriory Road, Louth2
£62505/240.34 miRamsgate Louth LN11 0NE2
£59505/240.34 miBridge View, Ramsgate, Louth. LN11 0NE2
£55004/240.34 mi-2
£87506/240.34 miMonks Dyke Road, Louth2
£60003/250.35 mi-2
£80005/240.39 mi18 Conker Grove Louth LN11 7BY2
£56512/240.41 miJames Street, Louth2
£65012/240.42 mi-2
£55006/240.44 miLeakes Row, Louth2
£77503/250.46 mi-2
£57505/240.48 miEastgate, Louth, LN112
£57505/240.48 miEastgate, Louth, LN112
£67505/240.5 miPlover Grove, Louth, LN112
£67501/250.5 mi-2
£74512/240.5 mi-2
£49505/240.54 miChurch Street, Louth, LN11 9BZ2
£57505/240.55 miKidgate, Louth2
£65006/240.56 miKidgate, Louth2
£55012/240.59 mi-2
£57505/240.59 miNorthgate Court2
£57505/240.59 miNorthgate Court2
£62505/240.6 miThe Gatherums, Queen Street Place2
£42505/240.62 miEastgate, Louth2
£42506/240.62 miEastgate, Louth2

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

0.62 miles away

Nearest school

0.20 miles away

Nearest train station

13.32 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Price changed to £110,000

March 20, 2025

Listed for £120,000

November 28, 2024

Floor Plans

Description

  • First floor apartment +
  • Two bedrooms +
  • 1 Reception Room +
  • Kitchen +
  • Dining Room +
  • Parking Space +
  • Conveniently located for the town centre +
  • Close to amenities +
  • Double Glazing +
  • Leasehold - No Upper Chain +

Nestled in the heart of Eastgate, Louth, this charming property boasts a prime location in this picturesque Georgian market town. This tastefully converted warehouse offers a unique living experience with a touch of historical charm.

With 2 bedrooms, 1 bathroom, and a reception room this spacious apartment provides ample space for comfortable living. The property also includes a convenient parking space, ensuring you never have to worry about parking in this central location.

Whether you're looking to relax in the large reception room or explore the bustling town just outside your doorstep, this property offers the best of both worlds. Don't miss the opportunity to own a piece of history in this sought-after location.

Reception Room - 5.58m x 4.67m (18'4" x 15'4") - Light and airy open plan reception room with TV point. Leading to:

Dining Room - 2.37m x 4.06m (7'9" x 13'4") - With ample space for a dining table.

Kitchen - 3.00m x 2.88m (9'10" x 9'5") - Wall and base units with work top over, one bowl stainless steel sink with drainer, built in 'Beko' electric oven/grill, 4 ring induction hob, breakfast bar and tiled splashback. Plumbing for a washing machine.

Hallway -

Bedroom 1 - 3.00m x 3.09m (9'10" x 10'2") - Double bedroom with window to side.

Bedroom 2 - 2.71m x 3.09m (8'11" x 10'2") - Double bedroom with window to side.

Bathroom - 1.89m x 1.90m (6'2" x 6'3") - Fitted with three piece suite compromising panelled bath with shower over , wash hand basin with mixer tap, dual flush WC, chrome heated towel rail, extractor fan and part tiling to the walls.

Communal Entrance - Staircase to first floor.

Tenure - Leasehold.
101 year lease from 1998 until 2099

Opening Hours - Monday to Friday 9.00 a.m. to 5.00 p.m.
Saturday 9.00 a.m. to 3.00 p.m.

Viewing Arrangements - By appointment through Choice Properties Louth on .

Making An Offer - If you are interested in making an offer on this property please have a chat with us and we will be happy to start the negotiations for you. Under money laundering regulation we will ask you to provide us with formal photographic ID by way of either a passport or driving licence. If you are travelling from afar we would advise bringing this documentation with you just in case this home is perfect for you. We would also like to make you aware that we will require details of your estate agents, proof of funds should you be a cash buyer and solicitors details, as this helps us to start the transaction quickly for you.

Council Tax Band - Local Authority - East Lindsey District Council,
The Hub,
Mareham Road,
Horncastle,
Lincolnshire,
LN9 6PH
Tel. No.
Website:

Council Tax Band - According to the Valuation Office Agency Website the property is currently in Council Tax Band A.

Agent Details

Choice Properties, Louth

01507 308529

Next Steps?

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