Leisure/hospitality for sale in Witham Park, Waterside South, Lincoln LN5

Description

The property comprises a substantial three storey mid terrace building that is fitted out and has been used as a gym for many years, with parking outside for around 100 vehicles.

The property sits mid-way along the building known as Witham Park House and previously known as the 'Titanic Works'.

Laid out over three floors, the accommodation has the swimming pool and changing rooms, together with a children's creche at ground floor level, the gym area, fitness rooms and café on the first floor and finally further fitness rooms and the plant areas on the second floor.

There is lift access as well as various stairwells between the different floor levels. The vast majority of the M&E has been left insitu ready for use by an incoming occupier. To fully appreciate the scale of the accommodation and the extent of the existing fit out we would strongly recommend undertaking a viewing of the property.

EPC: C56

Location

The property enjoys an easily accessible location just off Great Northern Terrace, about half a mile to the south east of Lincoln City Centre. The surrounding area is mixed use in character with the predominant use in the immediate vicinity being office use, with nearby occupiers including Lincolnshire County Council and the local nhs Trust.

The existing fitness offer in the city is well dispersed, with the majority located around the south-west quadrant, meaning that there is an extensive catchment including the villages to the south east of Lincoln, for the operator of this fitness centre to draw from.

Lincoln is the administrative and main shopping centre for the County of Lincolnshire with an urban population of circa 130,000 and a total catchment population of close to 550,000, giving a total catchment spend of over £985 million. It is also a growing University city with over 15,000 students and staff based on the main campus in Lincoln, which contributes an estimated £250,000,000 to the local economy. The university is located about a 1/3 of a mile to the west of the city centre, so again within easy reach of the subject property.

Services

We understand that main services are available and connected to the property. These have not been tested and interested parties are advised to make their own enquiries to the relevant utility service providers in this regard.

Town & country planning

We understand the property has a long established consent as a gym/fitness centre, a use falling now within Class E (Commercial, Business and Service Uses) of the Town and Country Use Classes Order 1987 (as amended).

Following changes to the use classes order that came into effect on 1 September 2020, Class E now encompasses a number of uses including formerly known as A1 (Shops), A2 (Professional and Financial Services), A3 (Restaurants and Cafes), B1 (Offices), D1 (Non-Residential Institutions) and D2 (Assembly and Leisure) which will have been the previous use of this building.

Tenure

The property is available To Let by way of a new lease drawn on the equivalent of Full Repairing and Insuring terms for a minimum term of 10 years, subject to 5 yearly rent reviews.

Rent

The property is available to let as a whole. The rent payable is available on application based on a letting on the terms set out above.

VAT

VAT will be charged in addition to the rent at the prevailing rate.

Legal costs

The ingoing tenant is to be responsible for the landlords reasonable legal costs incurred in documenting this transaction.