About this property

Detailed Description

4 Park Street briefly comprises a Ground Floor, Lock-Up Retail Unit within the main Retailing District of the City of Lincoln. The retail space is open plan with a Kitchenette and WC to the rear.

Location

Lincoln is a Cathedral City with an urban population of around 130,200 (2011 Census). The subject property is situated on the Northern side of Park Street, approximately 15 metres to the West of its junction with High Street, within the heart of Lincoln City Centre. Nearby occupiers include Tesco Express, Walkabout, TGI Fridays and Caffe Nero.

Accomodation

The property the following accommodation and has been measured on a net internal area basis:

Sales Area 24.1 sq m / 260 sq ft
Kitchen 2.3 sq m / 25 sq ft
WC
Total NIA 26.4 sq m / 284 sq ft

Business Rates

The property is assessed under the 2023 Rating List as a Shop and Premises with a Rateable Value of £10,000.

Subject to the ingoing tenant meeting certain criteria, it is possible to claim up to 100% exemption from the payment of Non Domestic Business Rates utilising the Government's Small Business Rate Relief Initiative. Further information in this regard can be supplied by Lincoln City Council as The Billing Authority. Tel: 01522 881188.

Services

We understand that the property is connected to mains electricity, water and drainage. We understand that mains gas may be available in this location but is not connected to the subject property.

Prospective tenants are advised to check upon the adequacy and provision of services with the relevant Statutory Authorities prior to entering into a commitment to take a new lease in respect of this property.

Viewing

Strictly by appointment with the Sole Letting Agents:

Brown & Co
5 Oakwood Road
Lincoln
LN6 3LH
Tel: 01522 457800

James Cameron
01522 457172
07768 465753
james.cameron@brown-co.com

William Gaunt
01522 504322
07919 694235
william.gaunt@brown-co.com

VAT

We understand that the property is not elected for VAT.

Legal Costs

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

Other

EPC RATING
The property has an EPC Rating of D83

TOWN & COUNTRY PLANNING
The property was previously used as a Retail Unit and as such should have an established planning consent now covered by Use Class E of The Use Classes Order 2020.

For further information in respect of planning-related matters, prospective tenants are advised to make their own enquiries via The Planning Department at Lincoln City Council. Tel: 01522 881188.

Terms

RENT
We are quoting a rent of £10,000 per annum for the property.

LEASE TERMS
The property is to be made available by way of a new effective full repairing and insuring lease for a minimum initial term of 3 years.