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Portland Street, Lincoln

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About this property

The property is located on the corner of Portland Street and Archer Street, close to its junction with Canwick Road (A15).

This Freehold Retail/Residential Property is being offered for sale either for Investment Purposes or, if required, with Vacant Possession. The ground floor Retail Space has, until recently, been let to a small business for many years and briefly comprises; Two Retail Areas with frontage onto Portland Street, together with Kitchen and WC Facilities to the rear. The separate Living Accommodation is accessed from the rear and briefly comprises; Utility/Boot Room at ground floor level with staircase leading to Living Room, Kitchen, Bathroom/WC and One Bedroom.

The ground floor accommodation comprises; Two Open-Plan Retail Areas, which provide for a total sales area of 255 sq.ft (24 sq.m). In addition, to the rear is a Kitchen and WC area.

The first floor living accommodation has separate access from a rear courtyard and comprises a ground floor Utility Room/Boot Room, a first floor Living Room with separate Kitchen, Bedroom and a Bathroom/WC Combined. The property is well-presented having the benefit of uPVC double glazing throughout and considered suitable for investment purposes or alternatively for owner occupation.

Mains drainage, water and electricity are connected. The ground and first floor accommodation currently share an electricity supply, but are otherwise self-contained.

EPC Rating
Ground Floor Non-Domestic EPC Rating – D
First Floor Domestic Rating – G

The property is available on a Freehold basis and with Vacant Possession if required. Alternatively, the first floor living accommodation is currently let under the terms of an Assured Shorthold Tenancy, which can continue if the Purchaser does not require possession of the living accommodation. The first floor living accommodation currently generates an annual income of circa. £4,500 per annum (water rates included), although we are of the opinion that the whole property could potentially generate an income of approximately £11,000 per annum.

Rateable Value – £6,000
Council Tax Band A.

Via Mundys Commercial – 01522 556088.

Energy Performance Cerificate (EPC)