Retail premises to let in High Street, Lincoln LN2

The property comprises a ground floor retail unit situated at the northern end of Lincoln High Street, with a double fronted glazed shop front to the High Street and servicing access to the rear.

Internally the unit has been fitted out to a decent standard, with a solid carpeted/tile floor, painted plastered walls and a suspended acoustic ceiling. There is a toilet, staff and storage facilities to the rear.

EPC

D82

Location

The property enjoys a prominent location within Lincoln’s pedestrianised precinct, towards the northern end of the High Street. Nearby retailers include a good mix of national, regional and local brands including Pizza Express, TGIs, Gere Menswear, Blacks, Caffe Nero, Carousel Bar Restaurant, Wildwood, Eqvvs and Coneys Menswear.

Lincoln is one of England’s finest Cathedral cities and the administrative and major shopping centre for the County of Lincolnshire. It has an estimated population of circa 543,400 and an established total catchment spend of £984.40m.

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 £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).

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).

The property is not listed but is situated within a Conservation Area.

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: £23,000
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, by way of a service charge, for a term of 5 years or multiple thereof, subject to 5 yearly rent reviews.

Rent

£25,000 per annum exclusive

Service charge

There is a service charge payable to cover external maintenance and repair to the common areas, including the building structure and car park/service yard to the rear.

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.