The property comprises of a fully refurbished ground floor retail unit. It also benefits from WC facilities at the rear.
The first floor contains two sizable rooms that can be used either for storage or offices.
The property will be handed over in a ‘turnkey’ condition, ready to open for immediate trade.
The property is located on Sincil Street, at the heart of the newly redeveloped Cornhill Quarter, next to the recently opened Co-op Foodstore and close to Seasalt, Lakeland and opposite the entrance to Everyman Cinema opening in Spring 2020.
Lincoln is the largest city and administrative centre of the county of Lincolnshire. It is ranked 5th regionally in terms of CACI Retail Footprint. Lincoln has an urban population of 130,000, and a total catchment population of 545,000 giving it a total comparison goods expenditure of over £985 million.
Commercial activity in Lincoln has been greatly boosted in recent years by a rise in tourism, totalling 4.26 million visitors in 2018, and the growing University of Lincoln, ranked 17th nationally in The Guardian 2020 University Guide.
New mains supplies of electricity, water and drainage are connected.
TOWN AND COUNTRY PLANNING
The property has an established use falling within Class A1 (Shop) of the Town & Country Use Classes Order 1987 (as amended).
Alternative uses may be appropriate subject to receipt of necessary Planning Consent.
£17,500 per annum (£13,125 per annum in Year 1)
The new lease will be for a term of 5 years, with the initial rent for Year 1 being £13,125 rising to £17,500 from Year 2 onwards.
The lease will include a break clause exercisable after 12 months, with 6 months’ notice. The lease will be contracted out of the Landlord & Tenant Act 1954.
The tenant will be responsible for internal repairs and insuring only.
VAT will be charged in addition to the rent at the prevailing rate.
The ingoing tenant is to be responsible for the Landlord’s reasonable legal costs.