The subject property comprises an exceptional Grade II* Listed Georgian building, constructed in approximately 1820 by Architect William Hayward as The Judge’s Lodgings, which was extended in the 1960’s with a cavity brick two storey extension to the rear, accommodating various bedrooms and other amenity space.
The original front section of the building is constructed in solid brickwork under a hipped slate roof incorporating a variety of the buildings original decorative features. To the side of the property is a small garden, with pedestrian access off Castle Hill immediately to the west.
The property is situated on the northern side of Castle Hill in a highly prominent position, adjacent to the main entrance into Lincoln Castle, with Castle Hill/Castle Square linking the Castle to the western front of Lincoln Cathedral, which is recognised as being one of the best examples of Gothic architecture in Europe.
The historic Uphill area of Lincoln where the subject property is situated enjoys close to 2 million tourist visitors annually, as well as being very popular with local residents enjoying the shops, cafés and other attractions in the immediate vicinity.
Lincoln is the administrative and shopping centre for the county of Lincolnshire, with a resident population of circa 100,000. It is a popular tourist location attracted by the historic Cathedral and Castle, which draw visitors from across Europe.
It is also a growing University City with close to 15,000 students attending various Universities and Colleges in and around the City, which contributes an estimated £250m to the local economy.
The property sits on a site extending to circa 0.06 hectares (0.15 acres)
EPC Rating: Exempt as Grade II* Listed
TOWN AND COUNTRY PLANNING
The existing use of the property falls within Class E (Commercial, Business & Services Uses) of the Town & Country Use Classes Order 1987 (as amended), following the recent changes introduced in September 2020. Prior to this it was utilised as a private entertainment venue, a use falling within Class D2 (Assembly & Leisure).
It is our opinion that the property would be suitable for a variety of other commercial uses falling within Class E, including restaurant and retail, and outside of Class E a boutique hotel, falling within Class C1 (Hotel).
The property is not considered suitable for either residential conversion or office use.
The building, as referred to above, is Grade II* Listed and is also situated within a Conservation Area.
Further details on the Listing and its implications for the re-use/refurbishment of the building are available on request.
The property is described in the current Rating List as Function Room and Premises and has a current Rateable Value of £41,500.
The property is being offered For Sale by way of a 999 year long leasehold interest at a peppercorn rent, following the payment of a premium on completion of the lease sale.
The extent of the land being acquired is shown edged in red on the attached Ordnance Survey extract.
The Purchaser will be granted rights of way across the Vendor’s retained land over the area shaded pink, for pedestrian and vehicular access, with the latter being for loading/unloading only, which will be via a Licence Agreement to be renewed with the leaseholder on an annual basis.
A freehold offer would be considered if it was at a suitably attractive level.
GUIDE PRICE / PREMIUM
Offers are invited in excess of £800,000
METHOD OF DISPOSAL
The property is being offered For Sale by way of a 999 year long leasehold interest, by Informal Tender, with offers invited by no later than 12.00 Noon on Friday 19th March 2021.
Offers must be made on the attached Tender Form and arrive at the offices of Banks Long & Co by post or email, no later than 12.00 Noon on the Tender Date.
Interested parties wanting to bid should please note the various conditions and guidelines attaching to the submission of offers, together with the various considerations that will be also taken into account by the Vendor when accepting an offer.
The property is not elected for VAT.
Each party is to be responsible for their own legal costs incurred in documenting this transaction.