To LetSubstantial City Centre Retail Unit

288-289, High Street, Lincoln, Lincolnshire, LN2 1AL

Description

A substantial retail unit arranged over ground, first and second floor with a rear storage warehouse.

Internally the property has been fitted to a high specification with a laminate floor, LED spotlight and air conditioning.

Externally the property possesses 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. There are a wide range of national and regional retailers located close by including Blacks, White Stuff, Poundland, Caffe Nero, Two Seasons and Joules.

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

Lincoln is one of England’s first 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 supplies 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 AND 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: Lincoln City Council
Description: Shop and premises
Rateable value: £91,500
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 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 will 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.