LOCATION
The property is prominently located on the junction of Boultham Park Road, Rookery Lane and Skellingthorpe Road, within a mixed residential/commercial district and nearby occupiers include Lincolnshire Coop and Curtis The Bakers, as well as a number of smaller independent retail and hot food takeaway operators. The property is located approximately two miles south of Lincoln City Centre.

DESCRIPTION
Investment Property For Sale - We are pleased to offer for sale this Freehold property comprising a substantial ground floor retail unit with a former residential apartment above, all let under the terms of a single Lease to Ladbrokes Betting and Gaming Ltd, trading as Coral Bookmakers generating an income of £14,000 per annum. The ground floor accommodation is generally well-presented and substantial, having been extended to the rear. The first floor apartment is currently unoccupied and has been modified by the current Tenant in connection with the running of the ground floor business. Further details are available on request.

ACCOMMODATION
The ground floor accommodation provides for a large, open-plan retail space, which extends to 78 sq.m (842 sq.ft). In addition, there are customer WC facilities together with a staff room/kitchen incorporating a further WC.

The first floor apartment has been modified and is not currently occupied, but previously comprised a self-contained one bedroom apartment, with a living room, dining kitchen, bedroom and bathroom/WC, having a floor area of 55 sq.m (590 sq.ft). Modifications to the apartment have been made to install the air-conditioning system throughout the ground floor accommodation.

SERVICES
Mains drainage, electricity and water are connected. An air-conditioning system is installed throughout the ground floor accommodation.

EPC Rating - B

TERMS
Lease Terms/Tenancy Information - The entire property is subject to a Lease to Ladbrokes Betting and Gaming Ltd, for a term of 5 years commencing 10th June 2026, subject to the Tenant having the option to determine the Lease at the end of the third year. The Lease is on Full Repairing & Insuring Terms. Further details are available on request.

Tenure - The property is held on a Freehold basis, subject to the Occupational Lease as described above.

OUTGOINGS
BUSINESS RATES/COUNCIL TAX

Rateable Value - £13,250

Council Tax Band A (Flat) Lincoln City Council

VAT
VAT is not payable on the purchase price.

OTHER
Agent's Note - The external photograph has been digitally enhanced and is for illustration purposes only.

VIEWING
By prior appointment with Mundys Commercial.