About this property
Garmston Street is located between Hungate and St. Martin’s Square which, in turn is located directly off High Street within Lincoln City Centre, close to its junction with The Strait and Steep Hill, being a popular tourist area. The property overlooks St. Martin’s Square, an attractive landscaped green, popular with locals and tourists. Short stay parking is also available immediately outside the property.
Retail Premises with Living Accommodation in Excellent City Centre Location – We are delighted to offer ‘To Let’ this well-presented property located directly off High Street within Lincoln City Centre. The property has the benefit of generous Open-Plan Retail Space at ground floor level together with well-appointed living accommodation to the first floor, which includes a Living Room, Kitchen, Three Bedrooms, Bathroom/WC and with the added benefit of a stone terrace garden to the rear together with a balcony overlooking a green. The retail space provides for a Showroom Area of 33 sq.m (355 sq.ft) together with ancillary WC and Kitchen Facilities and is considered suitable for a variety of retail uses.
The ground floor accommodation provides for a generously proportioned Showroom (5 metres wide x 6.6 metres deep), having uPVC double glazed display windows and an entrance door fronting onto Garmston Street. To the rear is a Store Room/Office and beyond that there is a Staff Kitchen & WC Facility, together with access to the upper floor accommodation.
The first floor accommodation comprises a large Living Room (5 metres wide x 6.6 metres deep), which includes a Kitchen Area off and access to the attractive balcony overlooking St. Martin’s Square. To the rear, there are Three Bedrooms together with a Bathroom/WC combined incorporating a shower unit over the bath. There is also a stone terrace garden area to the rear.
All mains services are connected. A gas fired central heating system is installed serving radiators throughout the living accommodation.
EPC Rating – C
The property is available to let under the terms of a new Lease for a term of years to be agreed, under a stepped rental agreement of £20,000 per annum for the first year, £22,000 per annum for the second year and £24,000 per annum for the third year.
Rateable Value is believed to be £5,700.
In the event that a full rating liability is required, the current rates payable would be approximately £2,870 per annum (Rate to the pound for 2019/20 is 50.4 pence).
Prospective occupiers are likely to qualify for Small Business Rates Relief which, under the current framework, would give up to 100% exemption of rates liability, but interested parties should make their own enquiries.
VAT is not payable on the rent.
The ingoing Tenant will incur a referencing fee of £100 inc VAT, together with the Landlord’s reasonable legal costs to produce the Lease agreement.
Via Mundys Commercial – 01522 556088.