Investment Properties For Sale, Newark Road, Lincoln, Lincolnshire, LN5 8QD
£165.90 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,808 sq ft
168 sq m
- SECTOR
Mixed use property for sale
- USE CLASSUse class orders: A2 Financial and Professional Services and C3 Dwelling Houses
A2, C3
Key features
- Investment Properties For Sale
- EPC Ratings - C/D
- Viewings strictly via Mundys Commercial
- Currently generating £20,940 per annum
- Development Potential
Description
Newark Road (A1434) is one of the main arterial routes running south of Lincoln City Centre and located approximately one mile south of the City, within a mixed residential and commercial district, close to a full range of amenities.
Description
We are pleased to offer for sale this excellent investment property located on the south side of Lincoln City Centre, comprising a mixture of commercial and residential tenancies with the added attraction of additional development potential to the rear. The current income generated from the properties is a total of £20,940 per annum. Further details are available on request.
Services
All mains services are understood to be connected to the property.
EPC Information
120 Newark Road (Shop) - C
120A Newark Road (Flat) - D
122 Newark Road (House) - D
Tenure
The properties are available on a Freehold basis.
Rates
Business Rates (Shop) - £6,100
Council Tax (Flat & House) - Band A (Lincoln City Council)
VAT
VAT is not understood to be payable.
Viewing
Strictly via Mundys Commercial.
Parking
Yes
Planning
In addition to the existing income being generated from these properties, the Landlords have previously obtained Planning Consent (Application No: 2014/0059/F) for an extension to the rear of both buildings, in order to create two additional self-contained dwellings. Whilst this Planning Consent has now lapsed, we see no reason why it should not be re-established if required. Alternatively, the land to the rear of the properties is used as parking space.
Tenancy Information
The retail premises are let under the terms of a three year Lease expiring on 30th May 2025 and the passing rent is £5,400 per annum. The first floor (2 bedroom) apartment above the shop (120A) is let under the terms of a periodic Assured Shorthold Tenancy and the passing rent is £6,960 per annum. 122 Newark Road is a self-contained two bedroomed terraced house, currently generated £8,580 per annum, under the terms of an Assured Shorthold Tenancy. Further information is available on request.
NOTE
The internal photographs contained within this brochure are historic and for illustration purposes only.
Energy Performance Certificates
120120A122Brochures
Investment Properties For Sale, Newark Road, Lincoln, Lincolnshire, LN5 8QD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lincoln Central Station1.5 miles
- Hykeham Station2.2 miles
- Saxilby Station6.3 miles
Notes
Disclaimer - Property reference 120newarkroad. 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 Mundys Commercial, 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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