About this property

Detailed Description

The subject property briefly comprises a detached Industrial Unit on a broadly rectangular site extending to approximately 0.35 acres which is fenced and gated located in an established Commercial location off Great Northern Terrace.

We believe that the property was built during the late 1970's/early 1980's and is of steel portal frame construction with brick elevations at the base with the remainder of the walls and roof covering being over-clad in profiled and insulated metal. The eaves height of the property is approximately 4.50 meters (14 feet 9 inches) with a 3-phase electricity supply being connected to the property along with dedicated WC facilities.

Location

George Street is located off Great Northern Terrace and is an established Commercial location on the outskirts of the City centre accessible from Tentercroft Street as well as via Canwick Road/Pelham Bridge.

Lincoln is a Cathedral City with an urban population of approximately 130,000 people as of the 2021 Census. The City is located approximately 33 miles North East of the City of Nottingham, 41 miles South East of the City of Sheffield and 48 miles North of the City of Peterborough. The A1 is approximately 17 miles South West at Newark.

Lincoln benefits from a main line rail connection to London Kings Cross with a fastest journey time of approximately 2 hours.

Accommodation

The property has been measured on a Gross Internal Area basis and comprises as follows:

Description sqm sqft
Industrial Unit 219.6 2,364

Business Rates

We understand that the subject property is assessed under the 2023 Rating List as a Workshop and Premises with a Ratable Value of £11,500.

Subject to the purchaser meeting certain criteria, it is possible to claim up to 100% exemption from the payment of Non Domestic Business Rates utilising the Governments Small Business Rate Relief Initiative. Prospective purchasers are advised to contact Lincoln City Council as The Billing Authority to ascertain both the level of Business Rates payable and in respect of any potential exemptions available. Tel: 01522 881188.

Services

We understand that the subject property is connected to mains electricity (with 3-phase supply), water and drainage. Prospective purchasers are advised to check upon the adequacy and availability of services with the relevant Statutory Authority prior to making an offer to purchase this property.

Viewing

For further information, or to arrange an accompanied viewing please contact Brown & Co LLP as Sole Agents:
Brown & Co LLP
5 Oakwood Road
Lincoln
LN6 3LH
01522 457800

James Cameron
Brown & Co
01522 457172
07768 465753
james.cameron@brown-co.com

William Gaunt
Brown & Co
01522 504322
07919 694235
William.gaunt@Brown-co.com

VAT

We understand that VAT will not be payable upon the purchase price negotiated however, we would recommend the prospective purchasers make their own enquires in this regard prior to making an offer to acquire this property.

Legal Costs

Each party will be responsible for their own legal costs in respect of any sale negotiated.

Other

Town & Country Planning
We believe that the subject property has an established planning consent falling under Use Class E of The Use Classes Order 2020.

We believe that the site offers undoubtedly potential for the refurbishment of the existing structure and further development to the rear of the site, or complete redevelopment of the site, subject to the relevant planning permissions being obtained. Given the nature of surrounding structures, we believe that the site is suitable for redevelopment for Industrial or Storage purposes.

For further information in respect of planning-related matters, prospective purchasers are advised to contact The Planning Department at Lincoln City Council Tel: 01522 881188.

Terms

Price
We are quoting an asking price of £375,000 for the freehold interest in the Premises and Site with vacant possession to be granted upon completion. Both Unconditional and Conditional Upon Planning offers are invited.

EPC Rating
The property has an EPC Rating of G186 which is valid until May 20th 2035.