Commercial property for sale

Tenure: Freehold

An excellent and rare opportunity to purchase this modern landmark investment property situated in pleasant and landscaped surroundings fronting onto Doddington Road. The property benefits from quality well appointed office accommodation measuring approximately 794.60 sq m (8,553 sq ft) net internal area. The premises are leased on a 20 year term from 2001. The property can be offered To Let also on a new sub lease on negotiable terms.

SITUATION    Lincoln City centre is experiencing major redevelopment and is rapidly expanding, The University is also adding to the prosperity of the City. It is an extremely popular tourist destination and it is estimated that the City receives approximately 1 million visitors per year with 75% being from within the UK or the majority of oversees visitors from neighbouring European Countries and a sizable contingent from American visitors. Lincoln now has the benefit of being connected to the A46 dual carriageway linking to the main A1 and the national motorway network. It is approx 15 mins from Newark Northgate station which benefits from a regular National Express service to London's Kings Cross with a minimum journey time of 1 hour 20 mins. Lincoln is 142m north of London, 75m from Leeds, 52m from Leicester, 36m from Nottingham, 60m from Peterborough and 48m from Sheffield.

ACCOMMODATION    The offices provide excellent high quality office space in open plan and cubicle space, having a net internal area of 794.60 sq m (8,553 sq ft) over ground and first floor excluding corridors and staff facilities. The property benefits from the following facilities: allocated parking, landscaped surroundings, carpeted floors, 8 person lift, double glazed windows, gas central heating, suspended ceilings and decorated walls together with a mix of open plan space as well as individual cubicle offices leading off the main general space. The property benefits further from kitchen facilities on both ground and first floor level and WC facilities for both male and female on both ground and first floor.
The property has been fully fitted with data cabling and associated skirting.

OUTSIDE    The property benefits from approximately 27 car parking spaces.

PLANNING    The property has an established used since its construction for office use, however and further enquires should be made to Lincoln City Council, tel: 01522 881188.

LEASE TERMS    The property has a 20 year lease from 1st November 2001 to the partners of Langleys being a substantial firm of solicitors based in the East Midlands and York. There is also a sub lease to Lincolnshire County Council social services dept.

RENT    Rent - £91,250 per annum exclusive.

SERVICES    Mains electricity, water, drainage and gas are connected to the property; however all prospective purchasers are advised to check upon the adequacy of these supplies for their own purposes.

EPC    The Energy Performance Certificate for this property is attached hereto:

RATES    We have been verbally informed by the local authority that the rateable value of the shop and premise is £87,500. Interested parties are advised to make their own enquiries with Lincoln City Council.

VAT    The price/rent expressed in these particulars is exclusive of VAT at the appropriate rate.

VIEWING    Viewing is strictly by appointment with the sole agents: Pygott & Crone Lawrence House 27-29 Clasketgate Lincoln LN2 1JJ Tel: 01522 536777 Email: wdowning@pygott-crone.com

LEASE CODE    You should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends that you seek professional advice from a qualified surveyor, or solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The code is available through professional institutions and trade associations.

NOTE    The Money Laundering Regulations 2007 has been extended to include estate agency work with the definition of relevant business. Estate agency is as defined in the Estate Agents Act 1979. Auctioneers and estate agents will have to put certain anti-money laundering procedures into place. Failure to do so will be a criminal offence that carries a penalty of a maximum of two years imprisonment, or a fine or both. The principal requirements are identification of clients, record keeping, internal reporting procedures and employee training and awareness.