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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.