About this property
Lincoln’s High Street is the principal retail district of Lincoln and has a great mixture of high street retailers and independent shops and boutiques.
Prominently Located Ground Floor Retail Premises – We are pleased to offer ‘To Let’ this well-presented ground floor retail unit. The property is prominently located on High Street, within a busy Commercial District and the ground floor accommodation extends, in total, to 44.6 sq.m (480ft sq.ft). The property is considered suitable for a variety of uses. Viewing is highly recommended.
This well-presented ground floor retail unit comprises;
Retail Area of 4m x 7.7m (30.8 sq.m), with Kitchen and WC Facilities off.
Treatment Room which is 2.3m x 3m (6.9 sq.m).
Two Store Rooms which in total extend to a further 7 sq.m having access to the rear.
Mains drainage, electricity and water are all understood to be connected to the premises.
The property is available to let under the terms of a new Lease for a term of years to be agreed, at an annual rent of £6,600, exclusive of Business Rates and all other outgoings. The Lease to be on an Internal Repairing Basis and subject to three yearly Rent Reviews. The ingoing Tenant will also be requested to pay a contribution towards the Landlord’s insurance of £43.33 per calendar month.
Rateable Value – £3,300
In the event that a full rating liability is required, the current rates payable would be approximately £1,665 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.
The ingoing Tenant will incur a referencing fee of £100 inc VAT, together with the Lease production fee of £200 inc VAT.
In addition, the ingoing Tenant will be required to pay a deposit equivalent to one month’s rent payable to the Landlord upon commencement of occupation, which will be returned at the end of the occupation, provided the property is returned in good order and that there is no rent deficit.
Please contact Mundys Commercial – 01522 556088.