About this property

Detailed Description

53-55 Queen Street briefly comprises of a two storey building of brick construction under a pitched and slate roof covering.

Internally, the property benefits from a large Retail Shop at Ground Floor level leading to a WC. The First Floor comprises two Offices/Stores.

If the property is sold it will be inclusive of a 2 bedroom Flat which is currently let by way of an Assured Shorthold Tenancy at a rent of £481.50 per calendar month.

Location

The Market Town of Market Rasen is situated on the edge of the Lincolnshire Wolds approximately 13 miles North-East of Lincoln and 14 miles West of Louth.

Queen Street is the main Retail Street within the Town and the property is located on a busy crossroads.

Accommodation

The Retail Unit has been measured on a Net Internal Area basis and comprises as follows:

Description | m2 | Sq.ft
Ground Floor - Sales Area | 84.0 | 904
Ground Floor - WC | - | -
First Floor - Stores/Offices | 21 | 226
Total NIA | 105 | 1,130

Business Rates

53-55 Queen Street is assessed under the 2023 Rating List as a Shop and Premises with a Rateable Value of £7,500.

Subject to the ingoing tenant/purchaser 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. We would recommend that prospective tenants/purchasers contact West Lindsey District Council regarding this matter Tel: 01427 676676

Services

We understand that the property is connected to mains gas, electricity, water and drainage.

We have not carried out any tests on any of the services or appliances present at the property and potential tenant/purchasers should arrange for their own tests to ensure that any services are adequate and in good working order prior to committing to offering to rent/purchase this property.

Viewing

For further information or to arrange a viewing please contact the Sole Agents

BROWN&CO
5 Oakwood Road William Gaunt
Lincoln 01522 504322
LN6 3LH 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 letting or sale negotiated

Other

TOWN AND COUNTRY PLANNING
The Retail Unit has been used for many years as a Coffee Shop and as such has an established use now falling under Use Class E.

For further information in respect of planning-related matters, prospective tenants/purchasers should contact West Lindsey District Council Tel: 01427 676676.

EPC
53-55 Queen Street (Retail Unit) has an EPC rating of C67 which expires on 31st July 2032.

Terms

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

RENTAL TERMS
We quoting a rent of £8,000 per annum.

The property (inclusive of the let 2 bedroom flat) is also available on a freehold basis at a guide price of £150,000.