FREEHOLD INVESTMENT. A car park providing 29 spaces and extending to 0.21 acres, recently landscaped and surfaced with tarmacadam, serving the busy city centre and local residents 24/7. The site has frontages onto Grantham Street, Flaxengate and Swan Street. The property is let to Excel Parking Services Ltd on a full repairing and insuring lease for a term of 10 years from 12 April 2024 at a current passing rent of £95,000 per annum. Excellent tenant covenant strength (Dun & Bradstreet rating of 4A1). Prime city centre location.
- Ref: 2051954
- Tenure: Freehold
- Types: Car Parking, Other Development Land/Site, Retail Investment (High Street)
- Size: 0.21 ac
- Freehold: £1,200,000 for the freehold
Key Features
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29 space car park on 0.21 acre freehold site
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Let to Excel Parking Services Ltd on a 10 year lease
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Excellent tenant covenant strength (D&B rating of 4A1)
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Annual passing rent of £95,000
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Prime city centre location
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Quoting £1,200,000 reflecting a NIY of 7.5% after costs
Location
Car Park Investment, Grantham Street, Lincoln LN2 1BD
The site is located to the south of Grantham Street within the city centre. The site is a short distance from the pedestrianised aspect of the High Street, a popular thoroughfare within the city which connects the prime retailing pitch to the south with Steep Hill, Bailgate and the historic Cathedral Quarter and Lincoln Castle to the north.
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