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Park View, St Botolphs Crescent, Lincoln, LN5 8AZ

  • Auction
  • Lot 9
  • United Kingdom
  • Commercial Building
  • Commercial

Sold for £821,500

Property Summary

  • By order of Nick Myers and Adam Stephens of Evelyn Partners LLP as Joint LPA receivers 
  • Freehold former care home on a site of 0.25 hectares (0.61 acres)
  • Converted in 2013 as a 52 bedroom student accommodation scheme within 5 blocks
  • Includes communal lounges, fitted kitchens and bathroom facilities (6 bedrooms are en-suite)
  • 32 car parking spaces and communal grounds
  • Suitable for alternative use, subject to consents
  • Vacant possession 
  • Open house appointments: Thursday 13th July at 12:00 - 13:00, Monday 17th July at 10:00 - 11, Wednesday 19th July at 10:00 - 11:00, Saturday 22nd July at 10:00 - 11:00

Contact Us

Joel Ferree
Joel Ferree
Property Agent, here to help.
Nardip Bhamra
Vendor's Solicitor

Contact Us

Joel Ferree
Joel Ferree
Property Agent, here to help.
Nardip Bhamra
Vendor's Solicitor

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Property description

The property comprises a detached two storey building of brick construction under a pitched tile roof. The property was fully refurbished in 2013 into a student accommodation building arranged as 5 blocks totalling 52 bedrooms with communal kitchens, living areas and bathrooms for each block. In addition is a patio garden, landscaped areas and approximately 32 car parking spaces.

We are advised that the total Net Internal Area (NIA) of the apartments are approximately 844.31 sq m (9,088 sq ft). The Gross Internal Area (GIA) of the building is approximately 1,201 sq m (12,866 sq ft).

Each block benefits from their own dedicated front door. Three of the blocks are accessible to the front of the building whilst two blocks are accessed to the rear. Three blocks are located to the ground floor, two comprising 11 bedrooms and one with 8 bedrooms. The two first floor blocks comprise 11 bedrooms. All bedrooms are fully furnished with 6 bedrooms offering en-suit facilities with corner shower units. Each block has a communal living area with fully fitted kitchen, lounge area with breakfast bar, two WC's and two bathrooms with either corner shower unit or bath.

Interested parties will specifically need to satisfy themselves with the internal condition of the property as it has been vacant since late 2022.

Location

Lincoln is a cathedral city, located 58 miles north of Peterborough, 49 miles south-east of Sheffield and 40 miles north-east of Nottingham.

Park View is located to the south of Lincoln city centre. The site is well connected both locally and nationally. Lincoln mainline station is located one mile north-east of the site, and the A57 is located 2.4 miles north-west of the site, providing direct access to the A1. St Botolph's Crescent is linked to High Street (B1262), which is a main arterial route running into the town centre.

Lincoln city centre benefits from a large retail offering including the Cornhill Quarter and Tritton Retail Park which boasts a wide range of restaurants, bars, and leisure facilities. The University of Lincoln has undergone significant expansion in recent years and now boasts c.17,000 students. The university is currently ranked 34th in the Guardians University League Tables 2023 and its new Brayford Pool Campus provides a major contribution to the regeneration of the old cathedral city.

St Botolphs Crescent itself is a mainly residential area with private residential dwellings that have been built over time, with modern apartment blocks situated in the immediate area.

Planning

For further information contact City of Lincoln Council (01522 881188) www.lincoln.gov.uk

Tenure

Freehold

Additional Details

PropertyFloorBlocksBedrooms
Former Park View Care HomeGround330 
First222
Total 552

The GIA and NIA measurements have been provided by the Seller.

VAT

Please refer to Legal Documents

Helpful links

*Terms & Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £2,400 (inclusive of VAT) for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All Lots sold “Subject to Vendor Confirmation” will be subject to acceptance and confirmation by the Vendor. The highest bid will be presented to the Vendor, the Vendor will have to either accept, decline or make a counteroffer, within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising of the offer the Vendor is willing to accept. The Highest Bidder will be obliged to accept or reject the Vendor's counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.
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