156 & 158, Burton Road, Lincoln

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/kitchen

1352 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 £17,000 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 Fee

Lincoln 

LN1 1DD

Tel 01522 881188

VIEWINGS
Contact Pygott & Crone Commercial 

36a Silver street 

Lincoln 

LN2 1EW

Tel 01522 536777