Available
Guide Price
£1,200,000
Grantham Street Car Park, Grantham Street, Lincoln, East Midlands, LN2 1BD
Key features
- 29 space car park on 0.21 acre freehold site
- Let to Excel Parking Services Ltd on a 10 year lease
- Excellent tenant covenant strength (D&B rating of 4A1)
- Annual passing rent of £95,000
- Prime city centre location
- Quoting £1,200,000 reflecting a NIY of 7.5% after costs
Description
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.
Reference: 2051954_sales
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