Work/Live Opportunity, 423 Newark Road, Lincoln, Lincolnshire, LN6 8RS

Location
The property is prominently located on Newark Road, on the junction with Rookery Lane and Hykeham Road and situated within a busy block of retail units with neighbouring businesses including a General Store/Post Office, Hairdressing Salon, Fish & Chip Shop and Veterinary Practice. The property is located approximately one and a half miles south of Lincoln City Centre.

Description
We are delighted to offer for sale this property for sale due to retirement of the current business owners. In addition to the ground floor retail premises, there is a generously proportioned first floor flat with two bedrooms, refurbished to a high standard and suitable for owner occupation or investment purposes. To the rear of the property is a block of Garages, three of which are included within the sale of this property

Accommodation
The ground floor premises comprise an Open-Plan Retail Space extending to 96 sq.m (1,033 sq.ft), incorporating a Staff Kitchen and WC facility to the rear. The ground floor accommodation is self-contained and has an independent gas fired central heating system.

The first floor apartment, accessible via the rear, incorporates a large outside space and provides access to the refurbished accommodation briefly comprising; Entrance Hallway, Living Room, Fitted Kitchen, Two Bedrooms with built-in wardrobes and Bathroom/WC combined.

To the rear of the property is a block of Garages, three of which are included within the sale of this property.

Services
Mains drainage, gas, electricity and water are individually metered to each of the shop and the flat, meaning that each property is self-contained and capable of separate occupation.

EPC Ratings
Shop - C-53
Flat - C-69

Tenure
The property is held under the terms of a 999 year Ground Lease from 1968, subject to a 'Peppercorn' Ground Rent. Further details are available on request.

Rates
Rateable Value - £9,600 (as of April 2023)

Small Business Multiplier (2023/2024) 49.9p in the £.
The property may qualify for small business rates relief.

It may be possible to obtain Small Business Rates Relief, depending on individual circumstances.

Council Tax Band - A (The flat is known as '431 Newark Road')

VAT
VAT is not chargeable in addition to the purchase price.

Viewing
By prior appointment through Mundys Commercial.

Parking
Yes