Retail Property (high street) for sale

Clasketgate, Lincoln, Lincolnshire

Guide Price 2,567 sq. ft. | £300,000

Property Description

Commercial information

  • 2,567 sq ft (238 sq m)
  • Use class orders: A2 Financial and Professional Services

Full description

Retail Investment / Development Opportunity - Freehold - 2,567 sq ft (238.4 sq m) - Part let upon two IRI leases producing £13,500 pa - Would suit owner occupiers, developers and investors - Potential for alternative uses (stpc)

Location - Lincoln is a cathedral city and the county town of Lincolnshire with an urban population of 130,200 (2011 Census). The city is located approximately 33 miles north east of Nottingham, 41 miles south east of Sheffield and 48 miles north of Peterborough.

The property is situated on the southern side of Clasketgate (B1308) approximately 20 metres to the east of its junction with the High Street. Nearby occupiers include Tesco Express, Pizza Express, Carluccios and Caffe Nero.

Description - 6 - 12a Clasketgate comprises a part two part three storey mid terraced building currently arranged as three retail units at
ground floor level with offices at first and second floor levels.

Accommodation - Measured on a net internal area basis the property provides the following accommodation:

Ground Floor Retail & Storage 377 sq ft (35.0 sq m) - (6 Clasketgate)
Ground Floor Retail 337 sq ft (31.3 sq m) - (8 Clasketgate)
Ground Floor Retail 275 sq ft (25.5 sq m) - (10 Clasketgate)
First Floor Office & Kitchen 667 sq ft (62.0 sq m) - (10-12 Clasketgate)
First Floor Storage 141 sq ft (13.1 sq m) - (6 Clasketgate)
Second Floor Office 640 sq ft (59.4 sq m) - (12a Clasketgate)
Basement Storage 130 sq ft (12.1 sq m) - (10 Clasketgate)
Total 2,567 238.4

Planning - We understand that 6 and 8 Clasketgate have planning consent for retail use within Class A1, 10-12 Clasketgate has retail use within Class A2 and 12a Clasketgate has office use within Class B1 of the Town and Country Planning (Use Classes) Order 1987 (as amended). Interested parties are advised to direct any planning related enquiries to City of Lincoln Council on
01522 881188.

Rateable Value - Entered on the 2010 List as follows:
6 Clasketgate - £5,500 (shop and premises).
8 Clasketgate - £6,300 (shop and premises).
10-12 Clasketgate - £6,300 (shop, offices and premises).
12a Clasketgate - to be assessed.

Tenure - Freehold subject to existing tenancies

Tenancies - 6 Clasketgate - Let upon an internal repairing and insuring (IRI)
lease to Ms T Goddard for a term of 3 years from 1 September
2015 at a passing rent of £7,000 per annum exclusive (pax).
The tenant only is permitted to terminate the lease on the first
anniversary of the term by serving the landlord not less than
three months prior written notice.

8 Clasketgate - Let upon an IRI lease to M Mokhari Esq for a
term of 5 years from 12 April 2016 at a passing rent of £6,500
pax. The tenant only is permitted to terminate the lease on the
first anniversary of the term by serving the landlord not less
than three months prior written notice.

10-12 Clasketgate - Vacant.

12a Clasketgate - Vacant.

Guide Price - £300,000.

Vat - We understand that VAT will be applicable to the sale price.

Energy Performance Certificates - Full EPC and Recommendation Reports are available to interested parties upon request.

Legal Costs - Each party to be responsible for their own legal costs.

Viewing - For further information or to arrange a viewing please contact sole agents JHWalter:

Andrew France BSc (Hons) MRICS
01522 504319 07795 657792
andrewfrance@jhwalter.co.uk

John Elliott BSc (Hons) MRICS ACIArb MNAVA
01522 504304
johnelliott@jhwalter.co.uk

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More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Lincoln Central (0.3 mi)
  • Hykeham (3.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

JHWalter, Lincoln

1 Mint Lane, Lincoln, LN1 1UD

03339 873645 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Lincoln Central (0.3 mi)
  • Hykeham (3.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

JHWalter, Lincoln

1 Mint Lane, Lincoln, LN1 1UD

03339 873645 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 25949555. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by JHWalter, Lincoln. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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