To Let - Under Offerformer bank premises in large residential catchment area

427 Newark Road, Lincoln, LN6 8RS

Description

A prominent 2-storey former bank with potential for a variety of uses, subject to planning.

The property comprises ground floor retail area, offices, strong room storage, WCs and staff room.

Ample on-site customer car parking is available with staff parking to the rear, plus the inclusion of four lock-up garages.

EPC : C69

LOCATION

The property is situated approximately 3 miles south of Lincoln City Centre and forms part of a parade of shops with a busy main road frontage.

The parade offers a wide range of independent shops including florist, beautician, off-licence, hairdresser, optician and fish & chip shop.

The A46 Lincoln bypass and dual carriageway to Newark, where access is available on to the A1, is located approximately 3 miles to the south.

TOWN AND COUNTRY PLANNING

We understand the property has consent for use falling within Use Class A2 (Professional and Financial Services) of the Town & Country Planning Act (Use Classes) Order 1987 (As Amended).

The property could also be used for A1 (Shops), A3 (Restaurants & Cafes) and B1 (Business) through permitted change rights.

The property may also be suitable for a number of other uses subject to planning.

TENURE

The unit is available by way of assignment of the existing lease to National Westminster Bank Plc and the Royal Bank of Scotland Plc for a term expiring 23rd June 2025 at a passing rent of £14,500 per annum.

There is a rent review in June 2020 to a minimum uplift of £15,587.50 per annum.

SERVICE CHARGE

A service charge is payable by all occupiers to cover the upkeep and maintenance of the common areas. Details will be provided on request.

VAT

VAT may be payable at the prevailing rate.

LEGAL COSTS

Each party is to be responsible for their own legal costs incurred in documenting the transaction.