Summary
Multi-let High Street Retail Investment with Asset Management Opportunities
Investment Summary
• Located in the attractive cathedral city of Lincoln
• Dominant retail destination within Lincolnshire, with a shopping population of 264,000 and primary catchment of 419,000
• Situated at the very heart of Lincoln’s principal shopping district, occupying a highly prominent position fronting pedestrianised High Street, with signicant return frontage to Silver Street; two of Lincoln’s busiest retail thoroughfares
• An attractive and high prole multi let retail and office scheme extending to 30,905 sq ft in total. The property consists of 7 highly prominent retail units extending to 12,240 sq ft , with 17,041 sq ft of office accommodation over three upper oors
• Retail element is let to a mix of successful national multiples and regional occupiers, including Edinburgh Woollen Mill, Game, CEX and The Works
• Office element is part let and part vacant. The rst oor is let, with 11,001 sq ft vacant on the second and third oors; offering reversionary potential via asset management and / or conversion to alternative uses (subject to planning)
• The property produces a gross rental income of £271,750 per annum
• Freehold
Proposal
We are instructed to seek oers in excess of £2,600,000 (Two Million and Six Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reects an attractive Net Initial Yield of 9.82%, and a low capital value of £84.95 per sq ft, assuming full purchaser’s costs.