8 Park Street, Lincoln
£265,000
For Sale
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£265,000
For Sale
Get in touch
Jamie Thorpe
MSc MRICS
Chartered Surveyor
03301280939
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Property summary
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 - C66Get in touch
Jamie Thorpe
MSc MRICS
Chartered Surveyor
03301280939
More about the property
Investment sale of this prime city centre takeaway premises adjacent to Lincoln High Street.
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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 recorded
population 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
contribute £250 million per annum to the local economy.
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 recorded
population 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
contribute £250 million per annum to the local economy.
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 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.
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.
The Property has a rateable value of £13,750.
CEPC
The Property has an EPC rating of C-66.
The Property has an EPC rating of C-66.
VIEWINGS
Viewings are strictly via the sole agents Pygott & Crone
36a Silver Street
Lincoln
LN2 1EW
Jamie Thorpe
jthorpe@pygott-crone.com
07741234364
Viewings are strictly via the sole agents Pygott & Crone
36a Silver Street
Lincoln
LN2 1EW
Jamie Thorpe
jthorpe@pygott-crone.com
07741234364
