A substantial retail unit arranged over ground, first, and second floor with a rear storage warehouse.
Internally, the property has been fitted to a high specification with a laminate floor, LED spotlight and air conditioning.
Externally, the property possesses a prominent frontage onto the busy Lincoln High Street.
Having measured the property in accordance with the prevailing RICS Code of Measuring Practice, we calculate that it provides the following floor area.
Ground Floor Retail: 454.90 sq m (4,897 sq ft)
Rear Warehouse: 219.80 sq m (2,366 sq ft)
First Floor Retail: 74.66 sq m (804 sq ft)
Second Floor Store: 96.38 sq m (1,037 sq ft)
Total NIA: 845.74 sq m (9,104 sq ft)
The unit enjoys a prominent location within Lincoln’s pedestrian precinct, towards the northern end of the High Street. There are a wide range of national and regional retailers located close by including Blacks, White Stuff, Poundland, Caffe Nero, Two Seasons and Joules.
Nearby leisure operators include Walkabout, Carousel Bar Lincoln, the new TGI Fridays, Slug and Lettuce and Craft Bar.
Lincoln is one of England’s first Cathedral Cities and the administrative and major shopping centre within the County of Lincolnshire. It has a population of circa 543,367 and an established total catchment spend of £984.40 million. It is also a growing University City, with close to 15,000 students and academic staff based at the main campus in Lincoln, contributing an estimated £250 million to the local economy.
We understand that mains supplies are available and connected to the property. These have not been tested and interested parties are advised to make their own investigations to the relevant utility service providers.
TOWN AND COUNTRY PLANNING
We understand that the property has consent for uses falling within Class E (Commercial, Business and Service) 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 D1 (Clinics, Health Centre, Creche and Day Nurseries).
Charging Authority: Lincoln City Council
Description: Shop and premises
Rateable value: £91,500
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.
The property is available by way of a new Full Repairing and Insuring lease for a minimum term of 10 years, subject to 5 yearly upward only rent review.
£85,000 per annum exclusive
VAT will be charged in addition to the rent at the prevailing rate.
Each party is to be responsible for their own legal costs incurred in documenting the transaction.
To view the premises and for any additional information please contact the sole agents.