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St Peter At Arches, High Street & Silver Street, Lincoln, LN2 1AJ

30,905 Sq Ft / Offices

Withdrawn - Last updated: 01 November 2022

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.


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