The Former Garage, Carholme Road, Lincoln
Lincoln Property Syndicates are Scheme Administers for this syndicate.
Location
Lincoln is a city in the county town of Lincolnshire in the East Midlands, it’s known for the medieval Lincoln Cathedral. Including the urban areas Lincoln has a residential population of approximately 190,000 people.
Lincoln has easy access to the A1 which is approximately 30 minutes from the centre of Lincoln, and easy access to Newark’s railway stations.
Situation
LPS are now syndicate administrators for this scheme since January 2021 after taking over from the current administrators.
The development was built in 2012.
The main unit is let to national food retailer, Sainsbury’s Supermarket Limited, as the anchor tenant. There is ample car parking.
Rational for Purchase
This was another high-quality new build property, which has strong tenant.
Neighbourhood centres are popular when sited in close proximity to residential development, as UK consumers buying habits evolve from weekly/monthly ‘major shops’ at out-of-town sites, to more regular use of convenience stores.
This unit is also in close proximately to Lincoln University and university accommodation.
The anchor tenant gives a strong income stream which will be distributed to investors.
Purchase Price
The Total syndicated purchase price was £982,000.
Initial investment offers access to a high-quality brand-new investment property with a strong tenant covenant with a regular ongoing quarterly income stream and potential for capital growth over the term held.