About this property
Redwood Drive is located off Valley Road and Brant Road respectively, approximately three miles south of Lincoln City Centre on the Lincoln/Waddington border.
This substantial, self-contained Retail/Office Unit is the largest unit on this busy parade of shops, within a popular residential area which is being offered for sale as a result of the Tenant vacating the premises due to expansion. The accommodation extends to 77 sq.m (829 sq.ft) and represents an excellent investment opportunity with excellent potential for capital growth.
The accommodation comprises a large Open-Plan Retail Space/Office Area with further offices and stores beyond, including WC and Kitchen Facilities.
The large Storeroom to the rear has double doors onto a loading bay area. The existing stud wall can be reconfigured to suit the needs of any ingoing occupier.
There is ample visitor car parking space to the front for the shared use of all the retail/commercial properties within the parade of units. There is also the option to buy car parking spaces to the rear and further details are available on request.
In addition to the floor space, as described above, there are further WC facilities to the rear, currently used as additional storage areas.
The overall floor area is understood to extend to 77 sq.m (829 sq.ft).
Mains water, electricity and drainage are available. There is currently no gas supply within the property.
EPC Rating – C
The property is held on a Freehold basis and is being sold with the benefit of Vacant Possession.
The property is also available to let under the terms of a new Full Repairing & Insuring Lease for a term of years to be agreed at an initial rent of £5,400 per annum, exclusive of Business Rates and other outgoings. The ingoing Tenant is responsible for the Landlords reasonable legal fees for producing the Lease and the Agents referencing fee.
Rateable Value – £4,650
Based on current incentives being offered by Local Government, substantial reduction or even complete Rates Relief may be available. Further enquiries should be made with Local Rating Authority.
We are informed that VAT is not chargeable on the sale price of this property.
By prior appointment through Mundys Commercial – 01522 556088.