To LetGround Floor Retail Premises

137, High Street, Lincoln, Lincolnshire, LN5 7PJ

Description

The property comprises a ground floor retail area with a prominent glass frontage onto the High Street. Ancillary accommodation to the rear includes a store cupboard, disabled toilet and a kitchen.

LOCATION

The property enjoys a prominent location on the High Street just south of Tentercroft Street and close to St Marks Shopping Centre and The Ritz (Wetherspoon’s). National retailers at St Marks include JD Sports, Caffè Nero, Tesco Express and Sports Direct. This section of the High Street also enjoys a wide variety of local occupiers including a number of restaurants and takeaways.

The property benefits from a large residential catchment, as well as the University of Lincoln’s main campus which is located less than a mile to the north.

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 spend 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 to the local economy.

CAR PARKING

The tenant will be allocated two spaces in the car park to the rear of the property.

SERVICES

We understand that mains electric, water 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 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:  £11,500
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.

It is understood that qualifying small businesses will benefit from up to 100% Small Business Rates Relief. Any prospective tenant is advised to check with the Local Charging Authority.

TENURE

The property is available To Let on a new Full Repairing and Insuring lease for a term of years to be agreed.

SERVICE CHARGE

A service charge will be levied to cover the upkeep, maintenance and repair of all common parts of the development.

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.