To LetPROMINENT RETAIL UNIT

24, Outer Circle Road, Lincoln, Lincolnshire, LN2 4JA

Description

The ground floor retail premises will be offered in a shell specification with prominent retail frontage and direct car parking to the front. The property sits adjacent a Costa Drive Thru, Domino’s Pizza and Vape HQ. Other adjacent occupiers include Lidl, B&M, Jysk and Sue Ryder.

The property is located on a busy arterial junction opposite the popular Carlton Centre. Current occupiers within the retail park include The Pet Vet, Dunelm Mill, Halfords, Pets at Home, Poundstretcher, Boots, McDonalds, Shoezone, Costa and Peacocks. Other occupiers within the Neighbourhood Centre include a Lincolnshire Co-operative Post Office and Convenience Store, Cooplands Bakery, Yorkshire Building Society, Co-op Travelcare and Betfred.

location

The property is situated opposite The Carlton Centre, the largest commercial and shopping destination to the north of Lincoln City Centre, with over 10,000 living within walking distance. The shopping catchment covers the whole uphill area of the city and a number of large affluent villages to the north and east, including Nettleham and Welton.

Lincoln is the administrative and major shopping centre within the county of Lincolnshire and is rated 4th in the East Midlands Experian Centre Rankings behind Nottingham, Derby and Leicester. It has a population circa 100,000 and a catchment of 300,000. The City Centre has a CACI retail ranking of 60 and an established comparison spend of £231m, with a total catchment spend of £864m.

TOWN AND COUNTRY PLANNING

We understand that the property has consent for uses falling within Class E (Commercial, Business & 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 September 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: £18,500
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 lease for a multiple of three years on Full Repairing and Insuring terms.

SERVICE CHARGE

A contribution towards the upkeep of communal areas will be required. Further details are available upon request.

VAT

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

LEGAL COSTS

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