City Centre retail premises with ground floor sales area, first floor retail/storage space & WC facilities, gated service yard at rear, located at the heart of the Cornhill Quarter development, nearby occupants include Everyman Cinema, The Botanist, Lakeland, Seasalt and 200 Degrees Coffee,
The property is prominently located on Sincil Street, with frontage overlooking Exchange Square.
Arranged over two floors, it contains a large ground floor retail space, WC facilities and a large first floor retail/storage space.
Rear access leads onto a gated service yard.
The property will be ‘white boxed’ prior to letting, ready to be fitted out by the ingoing tenant.
The Cornhill Quarter is part of a £70m redevelopment aiming to rejuvenate Lincoln’s retail offering and city centre, encompassing Sincil Street, City Square and the Corn Exchange.
The overall regeneration zone will deliver in excess of 150,000 sq ft of mixed use commercial space and has already accounted for significant improvements to city centre infrastructure links, including a new multi-storey car park and bus station.
The Cornhill Quarter contains a vibrant mix of occupants including restaurants The Botanist and The Cosy Club, national retailers such as Hobbs, Phase Eight and Whistles, a 4-screen Everyman Cinema and 200 Degrees Coffee.
Lincoln is the administrative centre and largest city in Lincolnshire with an urban population of 130,000 and a total catchment population of 545,000, giving it a total comparison goods expenditure of over £985m.
New mains services of electricity, water and drainage have been connected to the property.
TOWN AND COUNTRY PLANNING
We understand that the property has consent for uses falling within Class E (Commercial, Business & Services Use) of the Town and Country Planning (Use Classes) Order 1987 (as amended).
Following changes to the Use Classes Order that came into effect on 1st September 2020, Class E now encompasses a number of uses including A1 (Shops), A2 (Professional & Financial Services), A3 (Restaurant & Café), B1 (Business) and D2 (Assembly & Leisure).
Charging Authority: City of Lincoln Council
Description: Shop and Premises
Rateable value: £15,750
Multiplying the Rateable Value figure with the UBR multiplier gives the annual rates payable, excluding any transitional arrangements which may be applicable. For further information, please contact the Charging Authority.
£65,000 per annum exclusive
The property will be available to let on a new lease for a term of years to be agreed.
VAT will be charged in addition to the rent at the prevailing rate.
The ingoing tenant is to be responsible for the Landlord’s reasonable legal costs incurred in documenting the transaction.
To view the premises and for any additional information please contact the sole agents.