To LetSubstantial retail unit

Unit 5, The Lindsey Centre, Gainsborough, DN21 2BP

Description

A substantial retail unit laid out over multiple levels, with a frontage to both the Market Place and Beaumont Street.

There is a dedicated service area to the side accessed from Heaton Street.

There is the potential to increase the size of the ground floor trading area through incorporating another unit on the Market Place

location

The unit is located within The Lindsey Centre, at the heart of the market town of Gainsborough. The unit has a frontage to Market Place and a return frontage to the new Lidl store and car park, which will form part of a new improved pedestrian link between the award winning Marshalls Yard retail scheme and the Market Place.

Tenants on Marshalls Yard include Next, M&S Simply Food, Laura Ashley, Costa, Poundland, Browns Department Store, Prezzo, Mountain Warehouse and Halfords. Other nearby retailers include Boots, Superdrug, W H Smith, Peacocks and Poundstretcher. Travelodge are proposing to open close by on Lord Street.

Gainsborough is an historic market town that has seen considerable inward investment in recent years, and is situated about 15 miles north west of Lincoln and about 10 miles south of Scunthorpe.

TOWN AND COUNTRY PLANNING

The use of the property falls within Class A1 (Retail) of the Town and Country Planning Use Classes Order 1987 (as amended).

TENURE

The property is available on a new lease for a minimum term of 10 years, subject to 5 yearly upward only rent reviews.

The lease will be drawn on the equivalent of Full Repairing and Insuring terms by way of a service charge.

RENT

For the existing unit the rent will be £175,000 per annum exclusive of business rates and service charge.

Further information on the rent for the attached unit is available on request.

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

LEGAL COSTS

The ingoing tenant will be responsible for the landlord’s reasonable legal costs.