About this property

Detailed Description

Unit 24 Lyndon Business Park briefly comprises a modern, midterraced Industrial/Storage Unit built circa 2000 which is of steel portal frame construction with brick and block walls to the base and with profiled and insulated metal cladding above to eaves height as well as to the pitched roof covering which also contain translucent panels. The unit benefits from a full height roller shutter doors to the frontage together with a 3 phase electricity supply, office and a disabled/unisex WC facility. The eaves height of is approximately 5 metres (16 ft 6 inches).

Shared Yardage and Parking are provided to the frontage. Lyndon Business Park is fenced and gated to aid security

Location

Lyndon Business Park is situated off Sadler Road in the established Lincolnfields Commercial area of the City of Lincoln and is located just off the A46 Outer Relief Road which links to the A1 at Newark.

As of the 2011 Census, Lincoln had a population of approximately 93,000, excluding North Hykeham and Waddington, and the City has seen substantial inward investment in the last decade, in particular concentrating on the areas around the University of Lincoln and at Teal Park which is situated in close proximity to Lyndon Business Park and which is home to Siemens.

Accommodation

Unit 24 provides the following accommodation and has been
measured on a gross internal area basis:

Description | Sqft | Sqm
Industrial/Storage Unit| 992 | 92.2

Business Rates

Having carried out an online search via The Valuation Office Agency website, we believe that Unit 24 Lyndon Business Park is assessed under the 2023 Rating List as a Workshop & Premises with a Rateable Value of £6,700.

Subject to the ingoing tenant meeting certain criteria, it is possible to claim up to 100% exemption from the payment of Business Rates utilising the Government's Small Business Rate Relief Initiative.

We would recommend that prospective tenants contact Lincoln City Council to ascertain the level of Business Rates payable in respect of the property and the potential for claiming exemption for part or all of the liability. Tel: 01522 881188.

Services

We understand that the property benefits from connection to mains electricity with 3 phase supply, water and drainage. We have not carried out any tests on any of the services or appliances within the property and prospective tenants are advised to arrange for their own tests to ensure that the services and
utilities are in good working order prior to making a commitment to take a new lease in respect of the property

Viewing

For further information or to arrange a viewing please contact:
Brown & Co William Gaunt
5 Oakwood Road 01522 504322
Lincoln 07919 694235
LN6 3LH william.gaunt@brown-co.com

VAT

We have been informed that the landlord has elected to charge VAT on the rent.

Legal Costs

Each party will be responsible for their own legal costs in respect of preparing any new lease negotiated.

Other

TOWN AND COUNTRY PLANNING
Unit 24 has previously been used for Industrial/Storage purposes and therefore has an established use now covered by Use Class E of The Use Classes Order 2020. This allows the property properties to be used for Light & General Industrial purposes as well as for Storage.

We would recommend that potentially interested parties make their own planning-related enquiries via the Planning Department at Lincoln City Council. Tel: 01522 881188.

EPC
The property has an EPC rating of D95

Terms

LEASE TERMS
The property is available by way of a new effective full repairing and insuring lease for a term to be negotiated.

RENTAL TERMS
Unit 24 at Lyndon Business Park is available at a rent of £7,950 exclusive of VAT at the appropriate rate. The rent will be fixed for the first 3 years of any lease term negotiated.

SERVICE CHARGE AND BUILDING INSURANCE
A monthly service charge payment will be made by the ingoing tenant to the landlord to cover a proportion of the landlords costs associated with maintaining the common external areas at Lyndon Business Park. Buildings insurance will also be payable by the ingoing tenant to the landlord annually in advance. The
current buildings insurance premium and service charge budget appropriate to each Unit is available via Brown & Co as Sole Agents upon request.