About this property

Detailed Description

5 Rookery Lane briefly comprises a Ground Floor, Lock-Up Retail Unit and a single Garage which is located in a block in the rear car park. Internally the Retail space has suspended ceilings with inset LED Lighting panels with a Kitchenette and WC to the rear

Location

Lincoln is a Cathedral & University City with an urban population of approximately 130,000 people as of the 2011 Census. The City is located approximately 33 miles North East of the City of Nottingham, 41 miles South East of the City of Sheffield and 48 miles North of the City of Peterborough.

The subject property is situated around 2.3 miles to the South of the City Centre at the junction where Rookery Lane meets Newark Road. Newark Road is a busy road providing access onto A46 as well as the City Centre.

Accommodation

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

Floor Description Sq M Sq Ft ITZA Sq M ITZA Sq Ft
Ground Retail Unit - Zone A 34.2 368 34.2 368
Ground Retail Unit - Zone B 34.2 368 17.1 184
Ground Retail Unit - Zone C 6.5 70 1.6 17
Ground WC - - - -
TOTAL 74.9 806 52.9 569

Business Rates

The property is assessed under the 2017 Rating List as a Shop and Premises with a Rateable Value of £12,750. The assessment under the 2023 Rating List will be £11,500 effective April 1st 2023.

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 is connected to mains electricity, water and drainage. The shop benefits from air conditioning.

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.

Other

EPC RATING
The property has an EPC Rating of D89.

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 £14,000 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.