About this property

Detailed Description

The property is a mid-terraced, two storey predominately Retail Premises. The Ground Floor comprises a Sales Area to the front with a Kitchen & Store to the rear and the First Floor comprises a Store & 2 WC's. The Sales Area has suspended ceilings with inset lighting. The First Floor has the potential to be converted into residential accommodation, subject to the necessary planning consents.

The property is let to 888 Vapour Limited who have been tenants since October 2015. The lease was renewed on the 1st November 2023 for a 5 year term and at a rent of £20,000 per annum. We believe the lease is drawn on an effective full repairing and insuring basis.

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.

338 High Street is well-located on the pedestrianised part of Lincoln High Street and is around 0.2 miles to the South of Lincoln Railway and Bus Stations. Neighbouring properties include Iceland, Shoe Zone and Card Factory.

Accommodation

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

Description | Sq.m | Sq.ft
Ground Floor - Sales Area | 34.8 | 375
Ground Floor - Kitchen | 12.1 | 130
Ground Floor - Store | 6.4 | 69
First Floor - Store | 29.9 | 315
First Floor - WC's | - | -
Total NIA | 82.6 | 889

Business Rates

The property is assessed under the 2023 Rating List as Shop and Premises with a Rateable Value of £15,250.

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

Services

We understand the property is connected to mains electricity, gas, water and drainage.

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 acquire this property.

Viewing

For further information or to arrange a viewing please contact:

Brown & Co William Gaunt
5 Oakwood Road 01522 504322
Lincoln 07919 694235
LN6 3LH william.gaunt@brown-co.com

VAT

Our clients inform us that the property is not elected for VAT and as such VAT will not be payable on any sale price agreed.

Legal Costs

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

Other

EPC
The property has an EPC rating of C60, which expires on the 6th March 2036.

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

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.