292 / 293 High Street Lincoln Lincolnshire LN2 1AL

292 / 293 High Street
Lincoln
Lincolnshire
LN2 1AL

Freehold Retail Investment (with Vacant Upper Parts)

Retail let to Nero Holdings Limited (t/a Caffè Nero) until November 2022
Vacant possession of self-contained upper parts (approx. 2,800 sq ft)
Potential to convert upper parts to residential (subject to consents)
Excellent location opposite House of Fraser and close to Primark and Marks & Spencer
Popular Cathedral City
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
53
Auction
10th December 2015
Rent
£73,500 per Annum Exclusive
Status
Sold
Price
£1,150,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment (with Vacant Upper Parts)

Retail let to Nero Holdings Limited (t/a Caffè Nero) until November 2022
Vacant possession of self-contained upper parts (approx. 2,800 sq ft)
Potential to convert upper parts to residential (subject to consents)
Excellent location opposite House of Fraser and close to Primark and Marks & Spencer
Popular Cathedral City
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 53
Auction 10th December 2015
Rent £73,500 per Annum Exclusive
Status Sold
Price £1,150,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 36 miles north-east of Nottingham, 40 miles south-east of Sheffield
Roads: A1(M), A15, A46
Rail: Lincoln Central Station
Air: East Midlands Airport

Situation

The property is situated in an excellent trading location on the eastern side of the pedestrianised High Street close to Guildhall Street and Saltergate. The property is immediately opposite House of Fraser Department Store, with other nearby occupiers including Carluccio’s, Primark, Marks & Spencer and Waterstones.

Tenure

Freehold.

Location

Miles: 36 miles north-east of Nottingham, 40 miles south-east of Sheffield
Roads: A1(M), A15, A46
Rail: Lincoln Central Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a coffee shop on the ground, lower ground and basement floors with self-contained accommodation on the first, second and third floors, accessed from the side.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Review
Basement Lower Ground Ground	Ancillary Ancillary Retail/Ancillary	81.48 sq m 10.66 sq m 144.75 sq m	(877 sq ft) (115 sq ft) (1,558 sq ft)	NERO HOLDINGS LIMITED(1) (t/a Caffè Nero)	15 years from 19/11/2007 until 18/11/2022 on a full repairing and insuring lease	£73,500	19/11/2017
First Second Third	Commercial Commercial Former Flat	122.86 sq m 68.32 sq m 69.62 sq m	(1,322 sq ft) (735 sq ft) (749 sq ft)	VACANT POSSESSION	-	-	-
Totals		497.69 sq m	(5,356 sq ft)			£73,500

(1) For the year ending 31st May 2014, Nero Holdings Limited reported a turnover of £215,496,000, pre-tax profits of £22,538,000 and a total net worth of £144,677,000 (Source: Experian Group 11/11/2015).