Free valuation

Great Northern Terrace, LincolnOffices

£195,000
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About this property

LOCATION
The property is located on Great Northern Terrace, within walking distance of Lincoln City Centre, located on the eastern fringe of the City which benefits from much improved vehicle access, given the opening of the Tentercroft Street link-road, which runs between High Street and Great Northern Terrace.

DESCRIPTION
Consulting Rooms/Office Premises For Sale – We are pleased to offer for sale this recently redeveloped Detached Single Storey Office Building, currently used as consulting rooms providing a total floor area of 68.2 sq.m (734 sq.ft), together with its own secure car park located within an established business district within Lincoln City Centre.

This unique property was fully redeveloped in 2015 to provide flexible office space/consulting rooms, currently comprising a Reception Office, Two Private Offices/Consulting Rooms, a larger Open-Plan Office and in addition, there is a Kitchen Area and Shower Room/WC.

The overall floor area extends to 68.2 sq.m (734 sq.ft).

Outside
The property has the distinct advantage of having its own secure private car park, providing off-road car parking space for up to five vehicles.

SERVICES
Mains water and drainage are connected. Mains electricity is supplied via a sub-meter arrangement from the Vendor’s neighbouring building. It is proposed that once completion has taken place, a separate independent electrical supply will be provided to the property. Further information is available on request.

EPC Rating to be confirmed.

TERMS
The property is understood to be held on a Freehold basis.

In the event of a Lease, the property will be let for a term of years to be agreed at an annual rental of £12,000. The property will be let on a Full Repairing & Insuring Basis and the Tenant will be responsible for all other outgoings such as Business Rates, electricity, water and gas.

In the event of a Lease, the ingoing Tenant is responsible for the Estate Agent’s referencing fee together with the Landlord’s reasonable legal fees associated with producing the Lease. Further information is available on request.

OUTGOINGS
Rateable Value – £4,850

In the event that a full rating liability is required, the current rates payable would be £2,323.15 (Rate to the pound for 2017/18 is 47.9 pence).

Prospective occupiers are likely to qualify for Small Business Rates Relief which, under the current framework, would give up to 100% exemption of rates liability, but interested parties should make their own enquiries.

VAT
VAT may be applicable in addition to the sale price.

VIEWING
Via Mundys Commercial – 01522 556088.