Newark Road, Lincoln
- PROPERTY TYPE
End of Terrace
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Investment Properties For Sale
- EPC Ratings - C/D
- Current Income Generated £20,940 per annum
- Council Tax Band A (Lincoln City Council)
- Off-Road Parking
Description
Description Investment Properties For Sale (Business Unaffected) - 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 and 122 Newark Road (House) - To be confirmed.
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 is not understood to be payable.
Viewing Strictly via Mundys Commercial.
DEVELOPMENT POTENTIAL 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.
Brochures
BrochureCouncil TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.
Band: A
Newark Road, Lincoln
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
About the agent
Mundys, Lincoln
29 Silver Street, Lincoln, LN2 1AS
Mundys are a multi practice independently owned Estate Agency specialising in house sales, residential letting and commercial property within Lincoln and the surrounding areas.
We are dedicated to offering our customers the highest quality service and strongly believe in helping you through the entire selling process from start to finish.
We are now operating in Gainsborough. If you have a property to sell or let in Gainsborough or
Industry affiliations
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Visit our security centre to find out moreDisclaimer - Property reference 102125029775. 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, 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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