Park Street, Lincoln, Lincolnshire, LN1
£591.52 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
448 sq ft
42 sq m
- SECTOR
High street retail property for sale
Key features
- Adjacent to Lincoln High Street and popular Nightclubs Home, Walkabout and Cognito
- Investment Sale
- Let at £20,800 per annum exclusive
- c. 4 Years unexpired on the lease
- 7.7% NIY
- Proven track record
- EPC - C66
Description
Investment sale of this prime city centre takeaway premises adjacent to Lincoln High Street.
LOCATION
The Property is situated on Park Street, very close to its junction with Lincoln High Street and has neighbouring occupiers that include: Walkabout, Home, Cognito, TGI Fridays and Carousel Bar among other national retailers. Lincoln is a Cathedral City and the county town of Lincolnshire located 120 miles north of London, 32 miles north-east of Nottingham and 48 miles north of Peterborough. In the 2021 Census, the urban area of Lincoln had a recordedpopulation of 127,540. The total population within the Lincoln Primary Retail Market Area is estimates at 234,00 at the end of 2022.The City is a well-established destination for tourists and is boosted by an estimated 3.7 million visitors every year. Key attractions include the Cathedral, Castle, Steep Hill and The Collection Museum. Lincoln is also home to one of the UK's fastest growing modern universities with circa 15,000 students attending the University of Lincoln and Bishop Grosseteste University which are estimated to
DESCRIPTION
The Property comprises an established takeaway premises with a proven track record for its use in this location. The building is being sold as an investment with tenant in situ. The Property is leased on a 5 year term, expiring on the 11th June 2028. The current passing rent is £20,800 per annum, with an upward only rent review due in 2026.
THE PROPOSAL
Offers are invited for the Freehold interest at £265,000. The Property is being sold as an investment subject to existing tenancy, cat a passing rent of £20,800 per annum exclusive, and having approximately 4 years unexpired. A copy of the lease can be provided to seriously interested parties upon request.
RATEABLE VALUE
The Property has a rateable value of £13,750.
CEPC
The Property has an EPC rating of C-66.
VIEWINGS
Viewings are strictly via the sole agents Pygott & Crone36a Silver StreetLincolnLN2 1EWJamie Thorpejthorpe@pygott-crone.com
Park Street, Lincoln, Lincolnshire, LN1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lincoln Central Station0.3 miles
- Hykeham Station3.5 miles
Notes
Disclaimer - Property reference 10550408. 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 PYGOTT & CRONE 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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