For SaleFreehold Investment Opportunity

1, Burton Road, Lincoln, Lincolnshire, LN1 3JY

Description

The property comprises a self-contained ground floor retail premises with kitchen, WC and internal storage.

The first floor comprises a 3-bedroom flat with dining room, bathroom, living room and kitchen decorated to a good standard.

The detached 1-bedroom barn located within the rear yard comprises bedroom with shower room and open plan kitchen diner.

LOCATION

The property is situated on the junction of Burton Road and Westgate in the popular Uphill area of Lincoln. The property is a short walk from the Cathedral, Castle, and Bailgate area which is populated with a wide range of high end retailers and restaurants.

The area attracts significant tourist visitors as well as local shoppers. The latest tourist report shows in excess of 3,500,000 visitors per year to the city.

Lincoln is one of England’s first Cathedral cities and the administrative and major shopping centre in the county of Lincolnshire. It has a population of circa 543,367 and established total catchment spend of £984.40m. It is also a growing University city with circa 15,000 students and academic staff based at the main campus in Lincoln, contributing to an estimated £250m to the local economy.

TOWN AND COUNTRY PLANNING

The current use of the ground floor property falls within Class A1 (Retail) and the first floor and barn conversion within Class C3 (Dwellinghouses) of the Town & Country Use Classes Order 1987 (as amended).

TENURE

The property is available For Sale freehold.

The retail element will be sold with vacant possession and the residential accommodation is currently let on individual Assured Shorthold Tenancies.

VAT

VAT may be charged in addition to the purchase price at the prevailing rate.

LEGAL COSTS

Each party is to be responsible for their own legal costs incurred in documenting the transaction.