High Street, Lincoln, Lincolnshire, LN5

LOCATION
The property is situated in a prominent location on Lincoln's pedestrianised shopping precinct, close to a good number of national, regional and local retailers, including Poundland, Tesco, Iceland, JD Sports, Greggs, Costa and McDonalds. The main University campus is a short walk to
the west. The Cathedral City of Lincoln is a vibrant University City, famous for its Cathedral and Castle and having a population of circa. 100,000 residents and a much wider catchment given the surrounding villages and towns.

DESCRIPTION
Mundys are pleased to offer to the market this investment opportunity in the c entre of Lincoln. Located on the High Street and currently being let under the terms of a Full Repairing & Insuring Lease and generating an income of £16,000 per annum. The property has a floor area of
Approx. 912.60 sq. ft. and comprises of a ground floor retail unit, first floor kitchen/store and further store/office space on the second floor, all let to a single tenant.

ACCOMMODATION
Ground Floor - Currently operating as a barbershop having laminate flooring and air conditioning.
First Floor - Comprising of a kitchen/staff room with worktops and sink. Separate WC and sink with access to stairs to the second floor.
Second Floor - Currently used as storage, but has the potential to be office space subject to renovation works.

The second floor is currently disused and would benefit from refurbishment.

SERVICES
Mains Drainage, water and electricity are connected to the property.

EPC Rating - D

TENURE
The property is held under the terms of a Full Repairing & Insuring Lease for the term of 10 years commencing 14th April 2016. The Lease, therefore, expires on 13th April 2026. The current passing rent is £16,000 per annum. Further details are available on request.

BUSINESS RATES
Rateable Value - £13,000

Small Business Multiplier (2023/2024) 49.9p in the £. The property may qualify for small business rates relief. It may be possible to obtain Small Business Rates Relief, depending on individual circumstances.

VAT
The Vendor has confirmed that VAT is not payable on the purchase price.

VIEWINGS
By prior appointment through Mundys.