LOCATIONUnit 5 Lincoln Road, Sleaford NG34 8AD is located on a small retail development comprising the Co-op Food Store and Post Office, Domino Pizza, Fillets Fish & Chip Shop, a Vape and a Charity Shop. The development has frontage onto Lincoln Road, which is one of the main arterial routes into Sleaford.
Sleaford is a popular Market Town, with a good range of amenities to include National Retail Outlets, Supermarkets, Banks, Restaurants, various Schools and Sports & Leisure Clubs. The Town is well-served by the A15 and A17 main roads and the Railway Station is located on the Nottingham to Skegness line.
DESCRIPTIONTo Let by way of a Lease Assignment – Excellent opportunity to occupy a prime retail unit, located on a small retail development off Lincoln Road, Sleaford, close to the Co-op foodstore and Domino’s pizza. Previously trading as a café, the property is now available by way of assignment of the current 25 year lease which commenced in February 2010. The existing fixtures and fittings are also available by separate negotiation for those interested in continuing the previous use as a cafe, or alternatively the property may suit a variety of other uses, subject to any necessary consents being obtained. The development benefits from customer parking to the front and staff/owner parking to the rear.
ACCOMMODATIONA glazed entrance door provides access to the café area, which has seating for approximately 32 covers. The area is ‘L’ shaped with the rear section used for storage. Extending to approximately 70 sq.m (753 sq.ft).
The Kitchen area extends to 13 sq.m (142 sq.ft) and to the rear of this is a disabled WC facility.
The premises benefit from a fully fitted Kitchen to include a gas range, grill and fryers, extraction equipment, fridge and freezer storage space and a serving counter to the main café area. A full inventory of items to be included can be provided upon request.
SERVICESMains electricity, water, drainage and gas are connected to the property. The property benefits from a gas fired central heating system. The premises benefit from a fire alarm system and internal CCTV.
EPC Rating – D
TERMSThe property is available by way of assignment of the existing 25 year Lease, which commenced on the 2nd February 2010. The current rent passing is £15,600 per annum (plus VAT) and there is a current Service Charge payable for the upkeep of the communal areas to the development, which we understand is circa. £336.82 (plus VAT) per quarter and subject to review. The rent is reviewed on a five yearly basis.
OUTGOINGSRateable Value – £12,000
Small Business Multiplier (2022/2023) 49.9p in the £.
The property may qualify for small business rates relief.
It may be possible to obtain Small Business Rates Relief, depending on individual circumstances.
The current owners have confirmed that they pay nil Business Rates.
VATVAT is payable on the rent due.
LEGAL COSTSThe ingoing Tenant is responsible for all legal fees incurred in the transaction.
OTHERAgents Note – The Tenants advise that the unit may suit a variety of alternative uses (subject to any required consent), in which case the existing fittings would be removed or if to be utilised, the fixtures and fittings can be made available by separate negotiation.
VIEWINGVia prior appointment with Mundys Commercial.