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    For Sale
    Investment, Offices, Lincoln, LN6

    Hestia House
    Edgewest Road
    Lincoln
    East Midlands - Lincolnshire

    LN6 7EL

    Reference 2019207

    Type Investment, Offices

    Tenure Freehold

    Size26,330 sq ft (2,446 sq m)

    Freehold: £4,000,000

    Contact LSH Surveyor

    adam ramshaw birmingham commercial property consultant capital markets
    Adam Ramshaw
    Regional Director - Birmingham & East Midlands

    0121 237 2395

    Description

    •Hestia House is situated at the west end of the University of Lincoln's main campus with close proximity to the Lincoln Science & Innovation Park. The property is accessed via Ruston Way which leads from Brayford Way and the Brayford Pool. Surrounding amenities include Tritton Retail Park, Morrisons, B & Q, Holiday Inn Express, McDonalds and St Marks Shopping Centre.

    The property was constructed in 2012 and comprises a modern, self-contained two storey office building extending to approximately 26,331 sq ft (2,446.28 sq m). It is of steel frame construction with brick elevations and developed over ground and first floor with on-site parking for 100 cars.

    The property is let in its entirety to Barbon Insurance Group Ltd with Barbon Holdings Ltd acting as Guarantor. The lease was granted for a term of 15 years from 27th September 2012 expiring on 26th September 2027 and subject to 5 yearly upwards only open market rent reviews with a minimum uplift of 2% per annum compounded. The current passing rent is £253,838 per annum rising to £280,258 per annum in September 2017. The vendor will top up the rent to this level at completion of the transaction. The lease is drafted on a Full Repairing and Insuring basis.

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