About this property
The property is situated on Guildhall Street, close to its junction with High Street, within a prime City Centre retail position, close to the historic ‘Stonebow’. Neighbouring businesses include professional services, showrooms, retail and leisure operators. Lincoln’s prime High Street and the business district are in close walking distance as is the Lincoln Transport Hub providing the main line bus and rail connections.
The Cathedral City of Lincoln is the major administrative and shopping centre within Lincolnshire, having a resident population in the region of 90,000.
Four Storey City Centre Retail Premises to Let – We are pleased to offer to let this City Centre Retail Outlet presented to a high standard, having been recently refurbished and providing ground floor Retail Space with upper floor Offices and Stores within a prime City Centre location, just off High Street, adjacent to the ‘Stonebow’. The property is available to let under the terms of a Lease which expires on 24th February 2024. The property is considered suitable for a variety of retail uses.
The ground floor Retail Area is open-plan, having a frontage of 2.7 metres and a depth of 12.6 metres. Additionally to the rear is a Kitchen and access to a shared courtyard area. In addition, there is a useful full-height basement, suitable for storage.
At first floor level, there are two large Showrooms/Offices together with a Central Lobby with an attractive bay window overlooking Guildhall Street
At second floor level, there is a large Office/Showroom, together with a Rear Lobby and two WC Compartments.
At first floor level, there is a further large Storeroom/Office together with additional WC Facilities and Stores.
The overall floor area extends to 144 sq.m (1,550 sq.ft), excluding the Basement.
Mains drainage, electricity and water are connected. An electrical boiler is installed serving radiators throughout the accommodation.
EPC Rating – D.
Lease Terms – The property is available to let by way of an Assignment of the existing Lease which expires on 25th February 2024. The annual rent is fixed at £20,000 plus VAT. A copy of the Lease is available to all interested parties.
Rateable Value – £14,647.00
In the event that a full rating liability is required, the current rates payable would be approximately £7,382 per annum (Rate to the pound for 2019/20 is 50.4 pence).
Prospective occupiers are likely to qualify for Small Business Rates Relief, but interested parties should make their own enquiries.
VAT is chargeable in addition to the rent as highlighted above.
The ingoing Tenant will be responsible for the reasonably legal fees associated with the transfer of the Lease, together with a referencing fee of £100 inc VAT for each person named on the Lease.
By prior appointment with Mundys Commercial.