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High Street, LincolnA1 - High Street, Commercial

£75,000
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About this property

LOCATION
The property is prominently located on High Street, close to the Portland Street junction and is situated in-between the side streets of King Street and Chaplin Street. The property is therefore within close proximity and walking distance of the City Centre.

DESCRIPTION
For the Lease, Business and all Business Equipment – This newly refurbished property has recently been fully equipped and set up as a Laundry Business and all fixtures and fittings including washing machines and tumble dryers are included in the sale. The property is prominently located on High Street, within a busy retail district and also benefits from being within close proximity within a densely populated residential area and therefore has excellent potential for growth.

The property was refurbished approximately 12 months ago and fully equipped to commence trading as a Laundrette. Over the past year, the owners have experienced significant growth in turnover and are of the opinion that there is further potential for increased trade. The premises are equipped to a high standard, with tiled floors, panelled walls and there are 8 industrial specification washing machines, 2 of which are extra large to accommodate bulky loads. There are a further 5 heavy duty, industrial grade tumble dryers. In addition to the main public Reception Area, there are Stores and Staff Rooms/WC Facilities to the rear of the premises.

The main Reception Area extends to 30.7 sq.m (330 sq.ft) and in addition the Stores, Staff Areas and WC Facilities provide for a further 8 sq.m (85 sq.ft) of floor area.

SERVICES
Mains electricity, water and drainage are understood to be connected.

EPC Rating – B.

TERMS
The property is available under the terms of a Lease for a term of 3 years commencing 1st April 2017 at an annual rental of £6,000, exclusive of utility bills and Business Rates.

OUTGOINGS
The Rateable Value is £6,700.

In the event that a full rating liability is required, the current rates payable would be £3,209.30 (Rate to the pound for 2017/18 is 47.9 pence).

Prospective Tenants 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
VAT may be applicable, in addition to the sale price at the prevailing rate.

LEGAL COSTS
The ingoing Tenant is responsible for the Landlord’s reasonable costs for the assigning/restructuring the Lease, together with the Agent’s referencing fee. Further details are available on request.

PARKING NOTES
The property has the benefit of short-stay parking immediately in front of the building, along High Street.

VIEWING
By prior appointment via Mundys Commercial – 01522 55688.

Energy Performance Cerificate (EPC)