For Sale - Under OfferFreehold Investment Opportunity

59, Newark Road, Lincoln, Lincolnshire, LN5 8NE

Description

A semi-detached corner property arranged over three floors, that is currently vacant but provides a potential investment opportunity.

The ground floor commercial unit has a wide frontage onto Newark Road. The first and second floor two-bedroom residential unit is self-contained, with an entrance to the rear of the property.

Both units benefit from off road parking to the rear of the property for up to 5 cars.

In our opinion the land to the rear provides potential for further development, subject to planning.

LOCATION

The property occupies a prominent position fronting the busy Newark Road, one of the main arterial routes into and out of the city centre, approximately 2 miles south of Lincoln city centre.

The A46 Lincoln Bypass and dual carriageway to Newark is located approximately 4 miles further south.

Lincoln is a historic Cathedral City and the administrative and major shopping centre for the County of Lincolnshire. The city has a population of circa 100,000 and a catchment of 300,000.

TOWN AND COUNTRY PLANNING

We understand that the property has consent for uses falling within Class A1 (Shops) for the ground floor and C3 (Dwellinghouse) for the first and second floors, of the Town and Country Planning (Use Classes) Order 1987 (as amended).

Alternative uses may be appropriate subject to receipt of the necessary Planning Consents.

TENURE

The property is available Freehold, with vacant possession on completion.

METHOD OF SALE

The property is being offered for sale by way of private treaty.

VAT

VAT may be payable 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.