311 - 313 Lincoln Road, Peterborough, Cambridgeshire PE1 2PH

A freehold investment opportunity comprising a two story mid terraced building currently occupied and let on lease for a term of 10 years from 4th April 2022. The passing rent is £18,000 per annum trading as a Portuguese restaurant.

Interested parties are advised to inspect the legal pack for more information.

The property situated in a busy and well-established commercial area of Peterborough, just north of the city centre. Located on Lincoln Road, one of the city’s main arterial routes, the property benefits from high levels of passing traffic and consistent pedestrian footfall throughout the day. The surrounding area is characterised by a vibrant mix of independent retailers, restaurants, takeaways, and local service providers, creating a lively and active high street environment. In addition, the property is well positioned to serve the nearby densely populated residential neighbourhoods, making it an accessible and convenient location for a wide range of customers. Excellent public transport links run along Lincoln Road, and the city centre and railway station are within easy reach, further enhancing the overall connectivity of the location.

Note
Part of the property falls within the demise of neighbouring 309 Lincoln Road, which is owned by a third party. The Vendor does not have control over this part of the property and it is not included within the sale. Only the area shaded red on the marketing plan is included in the sale. Interested parties are advised to rely upon their own enquiries to satisfy themselves.

Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.

Freehold

Subject to a tenancy

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 2% of the purchase price (subject to a minimum of £2,500 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.