This three-storey period building presents a notable opportunity for renovation and investment within a well-established trading environment. Located just a short distance from Lincoln's main retail sector, the property is strategically positioned on a busy high street, directly opposite leading national retailers. This prime location attracts foot traffic and offers excellent visibility, making it appealing for both investors and potential tenants, including students and private renters.
The building currently features a ground floor retail unit, with the upper floors housing offices and ancillary spaces. The existing layout offers flexibility for redevelopment, especially with the granted full planning permission (reference: 2023/0609/FUL) which allows for the conversion of the premises into five residential flats while maintaining the ground floor commercial space. This expansion is designed to meet current market demands, providing an attractive prospect for those looking to capitalize on rental income in a vibrant area.
Utilities such as mains water, electricity, gas, and drainage are connected to the property, though they have not been individually tested or serviced recently. Investors will appreciate that the property has an established use as a retail space alongside the newly approved residential units.
With a current rateable value of £9,100, this freehold offering comes with vacant possession, allowing for immediate development upon acquisition. The potential to enhance both residential and commercial income streams in this sought-after location makes this property a compelling investment proposition.
Viewings can be arranged by appointment with the agents, ensuring interested parties can explore this unique opportunity firsthand.
