405 High Street, Lincoln

Guide Price
£170,000
For Sale
1/10
Guide Price
£170,000
For Sale
Jamie Thorpe
MSc MRICS
Chartered Surveyor
03301280939
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Property summary

Modern Method Of Auction - T & C's Apply
Reservation Fee Payable
High Street Retail
Great potential for conversion of upper floors (stp)
Sold with vacant possession
Start bid £170,000
Stores and small rear yard
EPC Rating - D(96)

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Jamie Thorpe
MSc MRICS
Chartered Surveyor
03301280939

More about the property

Modern Method of Auction – T & Cs Apply

The Property comprises a retail building fronting Lincoln High Street. It has most recently been used successfully by the owner as a beauty clinic, having a ground floor retail entrance and sales area and a number of treatment rooms across all 3 floors of the building.

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BUYING CONDITIONS
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.  This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.  The buyer will also make payment of £349.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
BUYERS INFORMATION PACK
This property is for sale by the Modern Method of Auction. Should you view, offer, or bid on the property, your information will be shared with the Auctioneer, Iamsold. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyer’s solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability, and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
LOCATION
The Property is situated in a prominent position fronting Lincoln High Street, adjacent to occupiers such as Domino's, KFC, Pappa Johns and Taco Bell. 

Lincoln is the administrative and main shopping centre for the County of Lincolnshire, with an estimated urban population of circa 130,000  It is recognised as one of England’s finest Cathedral Cities, attracting over 3 million tourists every year.

 

DESCRIPTION
The Property comprises a retail building fronting Lincoln High Street. It has most recently been used successfully by the owner as a beauty clinic, having a ground floor retail entrance and sales area and a number of treatment rooms across all 3 floors of the building. 

The Property will suit a variety of uses for both owner occupiers and investors, with potential to convert the upper floors to residential accommodation, which has a separate side access from Pennell Street. 

The Property is held in very good condition and comes with a small rear yard and additional stores. 

SERVICES
We understand all mains services are available to the Property. 

We have not made any formal enquiries or tested any of the service connections. Interested parties are required to undertake their own due diligence into the availability and adequacy of services.  



TENURE
The Property is available freehold with vacant possession. 
RATEABLE VALUE
The Property has a Rateable Value of £4,200. Small business rate relief will therefore be available to businesses that qualify and we recommend prospective buyers make further enquiries with the local charging authority for further information. 
VIEWINGS
Viewings are strictly via the agents: Pygott & Crone Commercial Ltd

36a Silver Street, Lincoln, LN2 1EW

Jamie Thorpe 

07741234364

jthorpe@pygott-crone.com

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