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LOCATION
The property is located on the southern fringe of Lincoln City Centre, within a busy commercial district. When leaving the City Centre, the property can be identified on High Street, on the right hand side.
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
Investment Property For Sale - This substantial Freehold City Centre Property is being offered for sale as an investment property being fully let under the terms of a Full Repairing & Insuring Lease and generating an income of £12,000 per annum. The property comprises a ground floor retail unit, with living accommodation at first and second floor level, all let to a single Tenant.
SERVICES
Mains drainage, gas, electricity and water are understood to be connected.
EPC Rating - D
TERMS
The property is held under the terms of a Full Repairing & Insuring Lease for a term of 21 years commencing 26th August 2008. The Lease, therefore, expires on 25th August 2029. The current passing rent is £12,000 per annum. Further details are available on request.
OUTGOINGS
Council Tax Band - A
Rateable Value - £5,200
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
To be confirmed.
VIEWING
By prior appointment with Mundys Commercial.
