Burton Road, Lincoln, Lincolnshire, LN1

A rare opportunity to purchase this prominent investment property with ground floor funeral home and first floor 6 room bedsit letting opportunity with frontage directly on the Burton Road.

Location

A rare opportunity to purchase this prominent investment property with ground floor funeral home and first floor 6 room bedsit letting opportunity with frontage directly on the Burton Road. The Property is situated close to the castle, Bailgate and Cathedral Quarter. The property is situated in a mixed residential and commercial area of the city which is a highly popular location. The Property is within walking distance to the Bailgate area and cathedral quarter of Lincoln. This area is an extremely popular destination for tourists and this historic Uphill area of Lincoln enjoys close to 2 million tourist visitors annually.

ACCOMMODATION

Ground floor funeral home split into various rooms 3967 sqft (368.5 sqm)First Floor with 6 bedsits, 2 shower rooms, utility room, Lounge/kitchen1352 sqft (125.6 sqm)

PLANNING

Planning established as funeral home on ground floor and C3 residential at first floor.

SERVICES

All mains services are connected

TENURE

The property is offered freehold subject to the ground floor lease with Pat Cook Funeral Homes at a rent of £16,000 pax. The lease started on the 8th February 2023 for 5 years. The first floor has been let in the past for students and they were achieving rent of £115 per week for 50 weeks per year. On this basis the gross rent that could be achieved at first floor level is £34,500 pax.

RATEABLE VALUE

The ground floor has a rateable value of £16000.

CEPC

EPC rating of E

LEGAL COSTS

Each party to pay their own legal costs

VAT

The price is exclusive of VAT if applicable

LOCAL AUTHORITY

Lincoln City Council City Hall Beaumont FeeLincoln LN1 1DDTel

VIEWINGS

Contact Pygott & Crone Commercial 36a Silver street Lincoln LN2 1EWTel