To LetRetail Unit

290 High Street, Lincoln, Lincolnshire, LN2 1AL

Description

The property comprises ground floor open plan retail premises with large basement, staff room, kitchen and wc facilities. Internally the property has been fitted to a high specification which includes a fully integrated air conditioning system. In the agents opinion the basement could also be used for additional retail sales.

Externally the property possess a prominent frontage onto the busy Lincoln High Street

Location

The unit enjoys a prominent location within Lincoln’s pedestrian precinct, towards the northern end of the High Street. Locally there are a wide range of national and regional retailers in close proximity including Blacks, Poundland, Caffe Nero, Two Seasons and Joules.

Nearby leisure operators include Walkabout, Carousel Bar Lincoln, TGI Fridays, Slug and Lettuce and Craft Bar. 

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 main campus in Lincoln,  contributing an estimated £250 million to the local economy

Services

We understand that mains electricity, water and drainage 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 that the property has consent for uses falling within Class E (Commercial, Business and Service) 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 D1 (Clinics, Health Centre, Creche and Day Nurseries).

Rates

Charging Authority: City of Lincoln Council
Description: Shop and Premises
Rateable value: £57,000
UBR: 0.12
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 property is available To Let by way of a new Full Repairing and Insuring lease for a minimum term of 10 years, subject to 5 yearly upward only rent review

VAT

VAT may be charged in addition to the rent at the prevailing rate

Legal Costs

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