Investment Property, St. Margaret's Lodge, 2 Upper Lindum Street, Lincoln, Lincolnshire, LN2

Location
Upper Lindum Street is located directly off Wragby Road (A1434) and leads to Lindum Terrace, situated immediately adjacent to Lincoln Minster Senior School, located just 300 metres east of Lincoln Cathedral and within half a mile of the Castle and Bailgate, both located to the west. Lincoln City Centre is located approximately half a mile to the south-west.

The property is also within close proximity of Lincoln County Hospital.

The University City of Lincoln has a population of around 130,000 residents and is a vibrant city which, in addition to its rich cultural history, has a rapidly growing University with an excellent range of facilities resulting in Lincoln being a popular tourist destination and an enviable place to live.

Description
Prestigious Residential Investment Property For Sale - Superb residential investment opportunity comprising Four Luxury Apartments - We are delighted to offer for sale this unique opportunity to purchase a most impressive Victorian residence which has been cleverly converted into four luxury apartments varying in sizes. All four apartments have, until recently, successfully operated as 'boutique' holiday lets, generating a healthy income, having their own dedicated holiday let website, which could, potentially, be transferred to the Purchaser. Further details are available on request. The property also benefits from a double garage and is located adjacent to Lincoln Minster School, within the historic Cathedral Quarter of Lincoln, close to the Cathedral, Castle and Bailgate retail area, all popular with tourists where an excellent range of independent boutiques, eateries and bars can be found.

Accommodation
The four apartments are described in further detail below:

GROUND FLOOR APARTMENT 1
Approx. 129.2 sq.m (1,390 sq.ft)
This property comprises the largest of the four apartments having a private and grand entrance hall directly accessed from Upper Lindum Street, a fully equipped kitchen, three bedrooms with an en-suite shower room off one the bedrooms together with a separate bathroom/WC combined. There is also access to a basement storage area which provides potential for further accommodation if required.

FIRST FLOOR APARTMENT 2 & 3
Apartment 2 Approx. 41.7 sq.m (449 sq.ft)
Apartment 3 Approx. 69 sq.m (742 sq.ft)
Apartment 2 comprises a living room/kitchen, bedroom and en-suite shower room, whereas Apartment 3 is slightly larger comprising a living room with separate kitchen, bedroom and shower room/WC.

SECOND FLOOR APARTMENT 4
Approx. 58.6 sq.m (630 sq.ft)
This property comprises a living room, separate kitchen, bedroom and shower room/WC.

The floor plans contained within our marketing show the layout/configuration and floor areas of all four apartments.

Externally, the property benefits from an extensive lawned garden frontage. To the rear is a detached double garage providing off-road parking.

Services
Mains drainage, gas, electricity and water are connected with gas fired central heating systems serving all four apartments separately.

EPC RATINGS:
Apartment 1 - EPC Rating - E
Apartment 2 - EPC Rating - C
Apartment 3 - EPC Rating - C
Apartment 4 - EPC Rating - D

Tenure
The property is being offered for sale with Vacant Possession across all four apartments. Further details are available on request.

Rates
Rateable Values

Given that the apartments have operated as holiday lets, they are registered for Business Rates with a current Rateable Value of £8,200. This means that the property could benefit from full Business Rates exemption dependent upon the nature of the Purchaser.

Small Business Multiplier (2023/2024) 49.9p in the £.
The property may qualify for small business rates relief.

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

Legal Costs
Each party are responsible for their own legal costs.

Viewing
By prior appointment with Mundys Commercial -

Parking
Yes

NOTE
The aerial photograph with a red outline showing the boundary of the property is for indicative purposes only.