Description
The property is located within the Stonebow Centre in the heart of Lincoln’s city centre just a minute’s walk from the High Street. The Stonebow Centre is a covered arcade that links Silver Street to the busy pedestrianised Saltergate, where access is available into Top Shop within the Waterside Shopping Centre.
Current occupiers within the Centre include nationwide companies Amplifon and TUI as well as a number of small independent retailers. These include the main city centre Post Office. Other nearby retailers include Savers Health and Beauty, on Saltergate at the southern end of the precinct.
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.
Property
The property comprises a ground floor open plan retail unit, with kitchen, storage and WC facilities at first floor, situated within a busy covered shopping precinct sandwiched between Silver Street and Saltergate just off Lincoln High Street. Nearby retailers include Amplifon, TUI and the main city centre Post Office.
Services
We understand that mains services including water, drainage and electricity 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 & Country Planning
We understand the property has consent for uses falling within Class E (Commercial, Business & Services Use) of the Town & Country Planning Use Classes Order 1987 (amended 2020).
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: £14,000
UBR: 0.512
Period: 2021-2022
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 unit is available To Let on a new internal repairing lease for a term to be agreed, subject to the payment of a service charge to cover the cost of external maintenance and the upkeep of the common areas (see below).
Service Charge
An annual service charge will be levied in addition to the rent to cover the upkeep, maintenance and repair of all common parts of the property.
VAT
VAT will be charged in addition to the rent at the prevailing rate.
Legal Costs
The ingoing tenant is to be responsible for both parties legal costs incurred in documenting the transaction.