Retail premises to let in St. Marys Street, Lincoln LN5

The property comprises a recently refurbished retail premises laid out over ground and first floors to provide retail accommodation with upper floor storage, kitchen and a WC.

The unit has a full width glazed shop front to St. Marys Street, a short walk to the east of the High Street, around the corner from the Cornhill Quarter and is very close to the City’s train and bus stations, so enjoys a good level of passing pedestrian footfall.

Location

The property is situated on St Marys Street a short walk to the east of its junction with the prime retailing section of the High Street. Nearby retailers include Greggs, Nationwide, McDonalds, Specsavers and a wide variety of independent retailers. The City’s train and bus stations are also situated close by on St Marys Street to the west, as is the new Cornhill Quarter Development.

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 staff based on the main city campus, contributing an estimated £250m to the local economy

Services

We understand that mains water, electricity and drainage 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 & 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). The property is Grade II listed.

Class E now encompasses a number of uses formerly known as A1 (Shops), A2 (Professional & Financial Services), A3 (Restaurant & Cafés), B1 (Business) and D1 (Clinics, Health Centre, Crèche & Day Nurseries).

Interested parties are advised to make their own investigations with the Local Planning Authority.

Rates

Charging Authority: City of Lincoln Council
Description: Shop and Premises
Rateable value: £5,700
ubr: 0.512
Period: 2023-2024

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 a new Full Repairing and Insuring lease, for a term to be agreed.

Rent

£12,000 per annum exclusive

VAT

VAT may be charged 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.