icons_size_white icons_size
menu

Agent's details

City Centre Investment Opportunity - 347-349 High Street, Lincoln

For sale: £1,750,000.00|592 - 2,390 Sq Ft|Residential, Retail

Property details

FOR SALE£1,750,000.00
SIZE592 - 2,390 Sq Ft
ADDRESSCity Centre Investment Opportunity - 347-349 High Street / Tentercroft Street, Lincoln
TYPEResidential, Retail
TENUREInvestment Opportunity, Under Offer
POSTED ON5th October 2021

Description

Prestigious landmark building at the junction of High Street and Tentercroft Street (Lincoln’s East West Link Road).

Development comprises four retail units & 11 apartments with car park to rear.

Commercial - 6,114 sq ft (568 m2) GIA
Residential - 7,483 sq ft (696 m2) GIA

Within close proximity of Brayford Pool waterfront, University of Lincoln and train station.

Freehold subject to existing tenancies.

Sale on behalf of University of Lincoln who previously utilised apartments for University staff accommodation.

ERV circa £156,700 per annum reflecting a NIY of 8.43%.

LOCATION
Rose House is situated on the western side of Tentercroft Street at its junction with the High Street and forms part of a recent city centre regeneration programme. The vibrant Brayford Pool waterfront, University of Lincoln and Lincoln train station are all within short walking distance.

Lincoln is one of England’s finest Cathedral Cities and the administrative and major shopping centre within for the County of Lincolnshire. It has an urban area population of 130,200 (2011 Census) and an estimated total catchment spend of circa £1 billion. The city attracts circa 4 million tourists annually.

Lincoln is also a growing University City with circa 15,000 students and academic staff based at the City’s main campus, contributing an estimated £250 million to the local economy.

DESCRIPTION
Rose House comprises a recently completed development of four retail units and 11 apartments over ground, first, second and third floors with car park (9 spaces), cycle and bin storage to the rear. The property was built as a condition of the planning permission for the recently completed East West Link Road and replaces similar properties with heritage status that had to be removed in order to enable the new road to be built.

The apartments within the building have been utilised until recently by the Freeholder, University of Lincoln, as temporary accommodation for new staff members and as such, all apartments are in excellent condition.

Rose House is named after Rose Musical Warehouse which was founded by William Rose on the site in the 1860s. William’s youngest son, Edwin Samuel, inherited the business which stayed in the family for five generations until Jane Kinnear (nee Rose) and John Rose agreed to sell it to Lincolnshire County Council in order to allow the East West Link Road to go ahead.

TENURE
The property is for sale freehold subject to the existing tenancies.

PRICE
£1,750,000.
Offers are invited for consideration.

VAT
The property is elected for VAT

PLANNING
The property has planning permission for use within Classes E(a) (Shops), E(c) (Financial & Professional Services) and C3 (Dwellings) of the Town and Country Planning (Use Classes) Order 1987 (as amended). Alternative commercial uses may be appropriate subject to receipt of the necessary Planning Consent.

The property is not Listed but is situated within a Conservation Area.

Location

marker
Location: City Centre Investment Opportunity - 347-349 High Street / Tentercroft Street, Lincoln

Lincoln Central (0.1 miles)

Hykeham (3.2 miles)

Saxilby (6.0 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here