About this property

Detailed Description

4 Saltergate briefly comprises a mid-terraced 3 storey Retail Premises in addition to Basement space which we believe was constructed during the 1950's in an Art Deco style having mainly brick external elevations under a pitched and tiled Mansard roof located behind a parapet wall to the front elevation.

The property is an attractive building and has been in our client's family ownership for several decades and is well maintained.

Internally, there are suspended ceilings with inset LED Lighting panels throughout most of the Basement as well as Ground and First Floor Levels. The Retail element of the space also benefits from electric Air Conditioning / Heating Units set within the suspended ceilings. A 3 phase electricity supply is provided throughout the property and there is a small Kitchen at Ground Floor level together with a WC facility at First Floor level.

The property is situated within the established City centre Conservation Area and potential exists for the property to be used for alternative uses, subject to the relevant planning permissions being obtained, if required, to include conversion of the Upper Floors to Residential Flats.

Location

Lincoln is a Cathedral and University City within urban population of approximately 130,000 people as of the 2011 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.

Saltergate is pedestrianised and located at the heart of the City centre. Adjacent properties are predominately used for either Retail or Food / Drink purposes. The property is located opposite one of the main entrances into The Waterside Shopping Centre and approximately 100 metres from The Stonebow and the lower end of the pedestrianised High Street together with Guildhall Street.

Accommodation

In terms of net internal area, the property comprises as follows:

Floor Description Sq M Sq Ft
Basement Retail Area 21.8 235
Basement Changing Rooms & Stores 10.5 113
Ground Retail - Zone A 37.9 408
Ground Kitchen 1.4 15
First Retail Area 30.6 329
First WC - -
Second Office & Stores 33.3 358
TOTAL 135.5 1,458

Business Rates

The property is assessed under the 2023 Rating List as a Shop & Premises with a Rateable Value of £20,250.

Prospective purchasers should check the level of Business Rates payable via Lincoln City Council. Tel: 01522 881188.

Services

We understand that the property is connected to mains electricity (with 3 phase supply), water and drainage. We believe that mains gas is available in this location but is not currently connected to the property.

Prospective purchasers are advised to check upon the adequacy and provision of services and utilities with the relevant Statutory Authorities prior to making an offer to purchase this property.

Viewing

Strictly by prior appointment with the Sole Selling Agents:

Brown & Co
5 Oakwood Road Lincoln
LN6 3LH
Tel: 01522 457800

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

William Gaunt
01522 457182
07919 694235
william.gaunt@brown-co.com

VAT

The asking price quoted herein is exclusive of, but may be liable to VAT at the prevailing rate and prospective purchasers are advised to check the VAT position prior to making an offer to purchase this property.

Legal Costs

Each party is to be responsible for their own legal costs incurred in respect of any transaction negotiated.

Other

EPC RATING
The property has an EPC Rating of C64.

PLANNING
The property has been used for a number of years as Retail Premises and, as such, has an established planning permission covered by Use Class E of The Use Classes Order 2020.

In our opinion, the building has undoubted potential to be used for alternative purposes subject to the relevant planning permissions being obtained, and potential also exists to convert the Upper Floors to Residential Flats.

The property is not a Listed structure but is situated within the established City centre Conservation Area.

Prospective purchasers should make their own planning-related enquiries via The Planning Department at Lincoln City Council prior to making an offer to purchase this property. Tel: 01522 881188.

Terms

We are quoting an asking price of £250,000 for the freehold interest in this property with vacant possession to be provided upon completion of a sale.