Sold STC Flat

2 THE SLATE MILL

GRANTHAM, LINCOLNSHIRE NG31 8FJ

2 beds 1 baths 63 m² Listed 3 Apr 2025 (-436d)

£115,000

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# 2 bedroom flat for sale (NG31 8FJ)

## Property Details

| Key | Value |
|-----|-------|
| Address | 2 THE SLATE MILL, GRANTHAM, LINCOLNSHIRE NG31 8FJ |
| Price | £115,000 |
| Bedrooms | 2 |
| Bathrooms | 1 |
| Council tax | A |
| Last sold | £110,000 Sep 2025 |

## Description

Located next to Wyndham Park and its beautiful walks you will find this established FIRST FLOOR apartment. The spacious accommodation comprises of Entrance Hall with Stair Lift and cloaks cupboard and additional storage cupboard, Lounge Diner, Kitchen, TWO BEDROOMS and a Bathroom. The property also has the benefit of gas central heating and uPVC double glazing. Outside there is a large residents carpark and a short walk over the River Witham bridge into Wyndham Park and the amenities within. This apartment is considered to be low monthly/annual costs in relation to management charges and is NOT restrictive by the age of the potential purchaser. This home is being sold with no onward chain.

EPC rating: C. Tenure: Leasehold,

## Property Photos

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## Floorplans

- ![Floorplan](/listings/photos/160184072/228459) - Floorplan

## EPC Graphs

- ![EPC Certificate](/listings/photos/160184072/228460) - EPC Certificate

## Sales History

*Recorded sales for this property. Data from Land Registry Price Paid.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 2 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ | £110,000 | 22/09/2025 | Flat |
| 2 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ | £85,000 | 26/11/2014 | Flat |

## Sold Comparables

*Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 32A ALFORD STREET, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8BX | £62,000 | 29/06/2023 | Flat |
| [Same street] 12 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ | £116,000 | 17/04/2023 | Flat |
| [Same street] 11 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ | £110,000 | 29/07/2022 | Flat |
| 4A GLADSTONE TERRACE, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8BW | £97,000 | 31/01/2022 | Flat |
| [Same street] 7 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ | £95,350 | 30/09/2021 | Flat |

**Street average:** £107,117 (3 sales)
**Area average:** £79,500 (2 sales)

## Price vs local average

*Outcode + property type (HousePrices, last 2 years).*

- **Local average:** £117,389 (9 Flat, NG31, 2024–2026)
- **Deviation:** -2%

## Rental Range

*ONS Price Index of Private Rents (South Kesteven). Low / Realistic / Optimistic = conservative / average / best case.*

- **Low:** £753/mo
- **Realistic:** £837/mo
- **Optimistic:** £921/mo

## LHA (Local Housing Allowance)

*VOA 30th percentile rent floor for Grantham & Newark (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £573/mo

## Rental Comparables

*Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.*

| Title | Rent | Beds | Distance | As seen on |
|------|------|------|------|------|
| 2 Bed Flat, Brownlow Street, NG31 | £790/mo | 2 | 0.21 miles | OpenRent |

**Average rent: £790/mo (1 listing)**

## 1% Rule

- **Rent ratio:** 0.69% (weak for cashflow)
- **Max investor price (0.8%):** £98,750
- **Target investor price (1%):** £79,000

*Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.*

## Rent-driven metrics

*Based on OpenRent comparables (median £790/mo).*

- **Gross yield:** 8.2%
- **Cost-to-rent:** 12.1×
- **Monthly cashflow:** £233/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 8.4%

*Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).*

## Capital growth trend

*Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.*

- **5y growth:** 33.1%
- **10y growth:** -11.4%

## House Price Index (HM Land Registry)

*Official index for South Kesteven; Flats and maisonettes series; as of March 2026.*

- **1y growth (index):** -5.1%
- **5y growth (index):** 0.8%
- **10y growth (index):** 27.5%

## Flood risk

- **Zone:** 1
- **Risk:** Low
- **Source:** Job (default Low)

[Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)

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Property details

Tenure

LEASEHOLD

Floor area

63 m²

Council tax band

Last sold

£110,000 Sep 2025

Local average

£117,389 (-2%)

Deprivation

Decile 3 (9,366 of 33,755)

Street crime

300 incidents within 1 mile (Apr 2026)

Key features

Well Established Apartment
Off Road Parking
First Floor
Close To Amenities
Two Bedrooms
Close to Park and Riverside Walks
Kitchen
No Onward Chain
Wet Room
No Age Restriction

Additional details

Heating: Gas central
Parking: Yes
Listed property: No

Description

Listed by

Grantham

The Property Franchise Group

Reference: 160184072

EPC Rating & Upgrade Cost

Fetching EPC data… Refresh this page in a moment.

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Floorplans

Floorplan

EPC Graphs

EPC Certificate

Price history

29% since 2014

Event	Date	Price	% change
Sold	22/09/2025 (8 months ago)	£110,000	+29.4%
Sold	26/11/2014 (11 years ago)	£85,000	—

Source: HM Land Registry Price Paid Data. Crown copyright.

Sold Comparables

Same street and nearby sales within 0.25 miles (last 5 years). Data from Land Registry Price Paid.

Address	Price	Date	Type
32A ALFORD STREET, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8BX	£62,000	29/06/2023	Flat
Same street 12 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ	£116,000	17/04/2023	Flat
Same street 11 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ	£110,000	29/07/2022	Flat
4A GLADSTONE TERRACE, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8BW	£97,000	31/01/2022	Flat
Same street 7 THE SLATE MILL, GRANTHAM, SOUTH KESTEVEN, LINCOLNSHIRE, NG31 8FJ	£95,350	30/09/2021	Flat

Street average: £107,117 (3 sales)

Area average: £79,500 (2 sales)

Capital growth trend

Land Registry outcode average: last 12 months vs 5y and 10y ago (from sold prices).

5y growth 33.1%

10y growth -11.4%

House Price Index (HM Land Registry — official index, not sold-price averages): South Kesteven. Series: Flats and maisonettes. As of March 2026.

1y (index) -5.1%

5y (index) 0.8%

10y (index) 27.5%

Rental Range

Estimated market rent for South Kesteven. Low = conservative, Realistic = average, Optimistic = best case.

Low £753/mo

Realistic £837/mo

Optimistic £921/mo

Based on Local Authority from postcode lookup → South Kesteven.

LHA (30th percentile) floor for Grantham & Newark: £573/mo (Apr 2025 – Mar 2026)

Location

Map view View on Google Maps View on OpenStreetMap Street View NG31 8FJ

Nearby

Nearest stations, universities and amenities (distance from property).

Type	Name	Distance
Bus stop	Slate Mill Place	0.0 miles
Shop	Spar	0.1 miles
Hospital	Grantham and District Hospital	0.2 miles
Shop	Close Inkounters	0.2 miles
Train station	Grantham	0.8 miles
University	Harlaxton College	2.9 miles
Train station	Ancaster	6.5 miles
Hospital	Rauceby Hospital	9.0 miles

Street-level crime

Category	Count
Violence and sexual offences	87
Anti-social behaviour	66
Shoplifting	51
Vehicle crime	20
Criminal damage and arson	19
Public order	16
Other theft	12
Bicycle theft	6
Possession of weapons	6
Robbery	6
Burglary	4
Other crime	4
Drugs	3
Total incidents	300

Within 1 mile during Apr 2026. Source: data.police.uk (England & Wales).

Schools nearby

Nearest open schools with Ofsted ratings (England). Closed schools are not shown. Data from Get Information about Schools and Ofsted.

Name	Type	Distance	Ofsted
The King's School, Grantham	Secondary	0.2 miles	Good — 6 Feb 2023
Wyndham Park Nursery School	Nursery	0.2 miles	Outstanding — 19 Oct 2012
St Wulfram's National Church of England Primary School	Primary	0.3 miles	Requires improvement — 2 May 2022
The Little Gonerby Church of England Primary Academy, Grantham	Primary	0.3 miles	Good — 20 Nov 2023
Kesteven and Grantham Girls' School	Secondary	0.4 miles	Outstanding — 1 Nov 2023

Rental Comparables

Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.

Title	Rent	Beds	Distance	As seen on
2 Bed Flat, Brownlow Street, NG31	£790/mo	2	0.21 miles	OpenRent

Average rent: £790/mo (1 listing)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 0.69%

Max investor price (0.8%) £98,750

Target investor price (1%) £79,000

Gross yield 8.2%

Cost-to-rent ratio 12.1×

Monthly cashflow £233/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI 8.4%

Rent ratio — Monthly rent ÷ purchase price (1% rule). 1%+ = strong, 0.8–1% = okay, <0.8% = weak for cashflow.
Max investor price — Rent ÷ 0.8%; the price at which rent would be 0.8% of price (Stoke-style target).
Target investor price — Rent ÷ 1%; the price at which rent would be 1% of price (strong cashflow band).
Gross yield — Annual rent as % of purchase price (no costs).
Cost-to-rent — Price ÷ annual rent (from OpenRent comparables). Under 14× = strong, 14–16× = acceptable, 17×+ = compressed.
Cashflow — Rent minus mortgage, 10% maintenance, £25/mo compliance. Assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term.
ROI — Annual profit ÷ cash in (deposit + 4% purchase costs).

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