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AGENT'S DETAILS


City Centre Retail Unit, 2 St Peter at Arches, Lincoln LN2 1AJ

To rent: £45,000.00 Per Annum|1190 Sq Ft|Retail, Retail - High Street, Restaurant/Cafes, Office, Offices

PROPERTY DETAILS

TO RENT£45,000.00 Per Annum
SIZE1190 Sq Ft
ADDRESSCity Centre Retail Unit, 2 St Peter at Arches, Lincoln LN2 1AJ
TYPERetail, Retail - High Street, Restaurant/Cafes, Office, Offices
TENURETo Let
POSTED ON2nd December 2020

DESCRIPTION

Prime location on Lincoln High Street, existing Class E (Commercial, Business & Services Use), suitable for a variety of alternative uses, subject to planning, a wide range of national retailers within close proximity, including Greggs, White Stuff, The Works, Caffè Nero, Poundland, Blacks and Joules.

The retail premises are arranged over ground floor with an attractive prime retail frontage and strong passing footfall.

EPC Rating : E118

LOCATION
The unit enjoys a prominent position on the High Street. The property forms part of the popular St Peter at Arches retail parade, which is home to Greggs, The Works and CEX. The property is surrounded by a wide range of national and regional retailers and leisure operators within close proximity including Blacks, White Stuff, Poundland, Intersport, Caffè Nero, Joules and NatWest Bank. Leisure operators include Walkabout and the new TGI Fridays, scheduled to open early 2021.

Lincoln is one of England’s finest Cathedral cities and the administrative and major shopping centre within the County of Lincolnshire. It has a catchment population of circa 543,367 and an established total catchment spend of £984.40m. It also has a growing University with close to 15,000 students and economic staff based on the main campus, contributing an estimated £250m to the local economy.

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).

RATES
Charging Authority: City of Lincoln Council
Description: Shop and Premises
Rateable value: £30,500
UBR: 0.512
Period: 2020-2021

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.

TENURE
The property is available To Let by way of an effective Full Repairing and Insuring lease for a term to be agreed.

RENT
£45,000 per annum exclusive

SERVICE CHARGE
An annual service charge will be levied in addition to the rent to cover the upkeep, maintenance and repair of all common parts of the property.

VAT
We understand VAT will be payable in addition to the rent, at the prevailing rate.

LEGAL COSTS
Each party is to be responsible for their own legal costs incurred in documenting the transaction.

VIEWING
To view the premises and for any additional information please contact the sole agents.

LOCATION

Location: City Centre Retail Unit, 2 St Peter at Arches, Lincoln LN2 1AJ

Lincoln Central (0.3 miles)

Hykeham (3.5 miles)

Saxilby (5.9 miles)

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