The Old Cottage, Aveland Way, Asklackby, Sleaford, Lincolnshire

Description

Terraced cottage with two bedrooms, in need of modernisation, freehold, vacant, and situated in a sought-after rural location.

Accommodation

Ground Floor - Entrance hall, Kitchen/Diner, Sitting Room, Bathroom/WC; First Floor - Two Bedrooms

Location

Sleaford is a market town with a population of 19,807 located on the edge of the Fenlands approximately 11 miles north east of Grantham and 17 miles south of Lincoln. The property is situated in a rural location off Aveland Way. Shopping facilities are available locally and to a greater extent in Grantham or Lincoln, along with a good selection of cafes, bars and restaurants. Recreational facilities can be found in the surrounding countryside. Nearby road communications are via the A15, A17, A52 and A1. Transport: Rauceby - EMR; Sleaford.

Tenure / Property Information

Investment Analysis

The closest supplied evidence is Brooklands Cottage on the same road, a terraced freehold property sold for £166,000 in April 2026 and £158,500 in 2018. These sales support a broad indicative value range of £158,500–£166,000, but the evidence does not confirm whether the comparables match this cottage's condition, size or specification. The subject is described as needing modernisation, so the GDV estimate remains uncertain.

Investment Snapshot

Strategy Recommendation

Consider only after inspection and review of the legal pack, with the purchase price reduced to allow for the unknown modernisation costs and buyer or seller charges. The supplied evidence supports investigating a rental hold, but does not support an unconditional flip or BRRR purchase at the guide.

Works Required

Modernisation of the vacant two-bedroom cottage, including the kitchen/diner, sitting room, bathroom/WC and general internal finishes. The evidence does not specify the required works, structural condition, services or refurbishment budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At an indicative £166,000 GDV, 75% refinance would be approximately £124,500. This is below the £125,000 guide before buyer fees and refurbishment, so the project would not recover the guide price alone on the stated refinance assumption. Total project cost and cash left in cannot be calculated because the works budget and buyer charges are not supplied.

Buy-to-Let Analysis

The supplied advertised asking rent is £800 pcm, implying £9,600 annual rent and a gross yield of approximately 7.68% against the £125,000 guide. This is based on a generic two-bedroom Lincolnshire rental listing rather than achieved rent, and the yield after refurbishment, buyer fees, finance, maintenance, voids and other costs cannot be established.

Flip Analysis

A potential resale value is indicated by the £158,500–£166,000 sold evidence on the same road. However, refurbishment costs, acquisition charges, selling costs and the subject's finished condition are unknown, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but no scope or cost estimate is provided.

• The buyer's fee is not stated and VAT or seller's additional charges may apply.

• The £800 pcm figure is an advertised asking rent, not an achieved or property-specific passing rent.

• The sold comparables may differ from the subject in condition, size and specification.

• Rural location and dependence on nearby towns may affect tenant demand and resale liquidity.

• No EPC, heating, parking, council tax or legal-pack information is supplied.

Recommendation

Consider only after inspection and review of the legal pack, with the purchase price reduced to allow for the unknown modernisation costs and buyer or seller charges. The supplied evidence supports investigating a rental hold, but does not support an unconditional flip or BRRR purchase at the guide.

Strategy Rating

Analysis Confidence

There is relevant same-road sold evidence and one advertised rental figure, but the subject's condition, refurbishment cost, buyer fees, operating costs, EPC and legal charges are not supplied.