To LetCity Centre Retail/Restaurant Unit

2, Waterside South, Lincoln, Lincolnshire, LN5 7DU

Description

The retail unit was previously used as a restaurant and arranged over ground, first and second floors. The premises are located immediately off the prime High Street.

Internally the property benefits from an additional mezzanine retail sales area, fully integrated commercial kitchen and air conditioning.

Please note the property will be leased as seen with the Landlord taking no responsibility for the suitability of the existing fixtures and fittings. Interested parties are advised to make their own investigations into the operational suitability of these items.

LOCATION

The unit enjoys a prominent location immediately visible from the prime High Street. There are a wide range of national retailers located in close proximity, including Primark, Wilko, Boots, Starbucks, Marks & Spencer, River Island, Costa and McDonalds as well as the Cornhill Quarter where Flying Tiger, Lakeland and Moss Bros are located. Everyman Cinema, Seasalt, Cosy Club and The Botanist are also located within the Cornhill Quarter.

Lincoln is one of England’s finest 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 of 984.40 million, it is also a growing University city with close to 15,000 students and academic staff based at the city’s main campus, contributing an estimated £250 million pounds to the local economy.

SERVICES

We understand that mains supplies of gas, water, electricity and drainage 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 an established use for restaurant falling within Class E (Commercial, Business & Service Uses) of the Town and Country Planning (Use Classes) Order 1987 (as amended).

The changes to the Use Classes Order introduced on 1st September 2020 mean the premises can be used for a variety of alternative uses without the need to secure new planning permission. Further details are available on request.

RATES

Charging Authority:  City of Lincoln Council
Description:  Restaurant and Premises
Rateable value:  £28,500
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.

TENURE

The property is available To Let by way of a new effective Full Repairing and Insuring lease for a minimum term of 5 years.

VAT

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

LEGAL COSTS

The ingoing Tenants will be responsible for the Landlord’s reasonable legal costs incurred in documenting the transaction.