To LetProminent office

Unit 1, The Gateway, Ruston Way, Lincoln, Lincolnshire, LN6 7DB

Description

A modern ground floor office unit, with a full width glazed frontage and 4 car parking spaces to the rear.

EPC Rating – B38

LOCATION

The property enjoys a prominent location within the ground floor of The Gateway, one of the largest purpose built blocks of student accommodation in Lincoln City Centre. 

The unit overlooks the Ropewalk/Tritton Road/Brayford Way roundabout, adjacent to the Holiday Inn Express and opposite a McDonalds Drive Thru.

The University Campus is about 2 minutes’ walk to the east and the City Centre is about 5 minutes’ walk to the east.

Lincoln is the administrative and major shopping centre within the County of Lincolnshire. It has a catchment of circa 543,367 and an established total catchment spend of £984.40 million. It is a growing University City, with close to 15,000 students and academic staff based at the main campus in Lincoln, contributing an estimated £250 million a year to the local economy.

TOWN AND COUNTRY PLANNING

The current use of the property is Class B1 (Offices).  In our view the property would be suitable for alternative A1 (Retail), A2 (Financial and Professional Services) and A3 (Food and Drink) uses, subject to the receipt of Planning Permission.

Interested parties are advised to make their own investigations to the Local Planning Authority.

TENURE

The property is available by way of a new sub-lease contracted out of the Security of Tenure and Compensation Provisions of the 1954 Landlord and Tenant Act for a term of years to be agreed, (maximum term expiring 14th September 2025).

There is a Tenant’s break option on 15th September 2020.

The lease is drafted on the equivalent of Full Repairing and Insuring terms, by way of a service charge.

VAT may be charged in addition to the rental at the prevailing rate.

LEGAL COSTS

The ingoing tenant will be responsible for the landlords’ reasonable legal costs incurred in documenting the transaction.