To LetRETAIL WAREHOUSE UNIT

322 , Wragby Road, Lincoln, Lincolnshire, LN2 4QD

Description

The property comprises an end of terrace retail warehouse unit with a glazed shop front running its full width, directly abutting a tarmac surfaced car park to the front. Servicing is available from either the front or from a separate access to the side.

EPC: In course of preparation

LOCATION

The property is situated in a highly visible location on a small retail park situated on the corner of Wragby Road and Outer Circle Road, to the north of Lincoln city centre. It sits immediately behind frontage car parking running along Wragby Road, next door to Majestic Wine, Domino’s and a new Costa Drive-thru which is currently under construction.

Directly behind the site is the Deacon Retail Park where B&M and JYSK are located and on the opposite side of Outer Circle Road is the Carlton Centre, which has a wide range of national and multiple retailers represented within it, including Dunelm, Halfords, Argos, Pets at Home, Boots, Poundstretcher, McDonalds and Costa Coffee.

Approximately quarter mile to the north is a Tesco Superstore and immediately to the east is a Lidl Foodstore. The property therefore enjoys a high profile location within what is the largest retail destination north of Lincoln city centre.

Lincoln is an attractive Cathedral city and is the administrative and major shopping centre for the County of Lincolnshire. It is ranked 4th in the Experian Centre Rankings for the East Midlands and has a CACI retail ranking of 60. The city has a population and catchment of 543,367 and an estimated catchment spend of £984.50m.

It is also a University city with the main campus for the University of Lincoln located approximately 1½ miles to the south, with 14,000 students and staff insitu, contributing an estimated £250m into the local economy. The Cathedral is the ninth most visited in the country and Lincolnshire attracts 3.7m visitors per year, bringing over £1b of additional spending into the County.

TOWN AND COUNTRY PLANNING

The property benefits from an Open A1 Retail Consent under the Town & Country Planning (Use Classes) Order 1987 (as amended).

Alternative uses will shortly be permitted by virtue of the changes to the Use Classes Order, to be introduced from the 1st September 2020, when the property will become Class E (Commercial, Business & Service Uses).  Further details available on request.

RATES

Charging Authority: City of Lincoln Council
Description: Showroom & Premises
Rateable value: £20,000
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 drawn on the equivalent of Full Repairing and Insuring terms, for a term of years to be agreed.

SERVICE CHARGE

A service charge will be levied to cover the upkeep, maintenance and repair of the exterior and common parts of the site, shared in conjunction with the adjacent owners.

VAT

VAT will be payable in addition to the rent at the prevailing rate.

LEGAL COSTS

The Tenants will be responsible for the Landlords reasonable legal costs incurred in connection with the preparation and granting of the lease.