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
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

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
  • 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

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.

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

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.

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).

Property Documents

  • Site Plan
    Updated Date
    18.11.15
    File Size
    114 KB
    View PDF
  • Catalogue Page
    Updated Date
    18.11.15
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Will Collis 07912 603 525will@x-re.co.uk
Seller's Solicitors
Ellisons Solicitors Headgate Court, Head Street
Colchester
CO1 1NP
Toby Kramers 01206 719 267toby.kramers@ellisonssolicitors.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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