To LetCity Centre Double-fronted Retail Unit

26 - 27, Sincil Street, Lincoln, Lincolnshire, LN5 7ET

Description

The property is arranged over ground and first floors, with an attractive facade and double frontage onto Sincil Street.

The ground floor consists of a large sales area with storage and WC facilities to the rear.   Further storage/office space is available on the first floor.

Rear access leads onto a gated service yard.

The property will be ‘white boxed’ prior to letting, ready to be fitted out by the ingoing tenant.

LOCATION

The Cornhill Quarter is part of a £70m redevelopment aiming to rejuvenate Lincoln’s retail offering and city centre, encompassing Sincil Street, City Square and the Corn Exchange.

The overall regeneration zone will deliver in excess of 150,000 sq ft of mixed use commercial space and has already accounted for significant improvements to city centre infrastructure links, including a new multi-storey car park and bus station.

The Cornhill Quarter contains a vibrant mix of occupants, including restaurants The Botanist and The Cosy Club, national retailers such as Hobbs, Phase Eight and Whistles, a 4-screen Everyman Cinema and 200 Degrees Coffee.
 
Lincoln is the administrative centre and largest city in Lincolnshire with an urban population of 130,000 and a total catchment population of 545,000, giving it a total comparison goods expenditure of over £985m.

SERVICES

New mains services of electricity, water and drainage have been connected to the property.

TOWN AND COUNTRY PLANNING

We understand that the property has consent for uses falling within Class E (Commercial, Business and 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 Sepember 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:  To be assessed
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.

LEASE TERMS

The property will be available To Let on a new lease for a term of years to be agreed.

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 Landlord’s reasonable legal costs incurred in documenting the transaction.