Sold
Lincoln- High Yielding High Street Retail & Leisure Investment Opportunity
233-237 HIGH STREET LINCOLN LN2 1AT
Offers in excess of £3,000,000
- Property Type:
- Commercial
- Tenure:
- Freehold
- Net Initial Yield:
- 10.02%
- Site Area:
- 26,050 sq.ft
Income
£320,000 PA
Description
- Lincoln is an attractive & historic Cathedral city situated in the East Midlands.
- Prime pitch fronting the High Street, benefitting from high footfall.
- The property comprises an attractive island site of four well configured retail units arranged over ground and first floor.
- Total floor area of approximately 26,050 sq ft.
- Total rent of £320,000 per annum.
- Fully let to Stonegate Pub Company Ltd, Blacks Outdoor Retail Ltd,
- Poundland Ltd and 2 Seasons Holdings Ltd.
- AWULT of 7.41 years to expiry, 7.34 years to break.
- Freehold.
- Stonegate recently removed a break option and extended their lease to have 16.55 years unexpired.
- The city benefits from a strong tourism economy with approximately 4 million visitors per annum.