LOCATIONThe property is prominently positioned, being located centrally along Silver Street, which is particularly popular with Estate Agents, Solicitors and other professional services providers, together with a range of leisure operators.
The Cathedral City of Lincoln is the major administrative and shopping centre within Lincolnshire having a resident population in the region of 95,000.
DESCRIPTIONThis is a rare opportunity to acquire a substantial, prominently located Three-Storey City Centre Property which has, until recently, been trading as an Estate Agency Office. The property is, however, considered suitable for a variety of alternative business uses. The ground floor workspace which includes ancillary office accommodation extends to circa. 100 sq.m (1,076 sq.ft). In addition, there are offices at first and second floor level, together with ancillary Kitchen and WC facilities which extend, in total, to a further 123 sq.m (1,324 sq.ft), which can be sublet, if required, having the benefit of a separate access on Silver Street.
This prime office/retail building is well-presented throughout, having open-plan ground floor accommodation, together with ancillary offices and access to a large dry basement, whilst at first floor offices there are six generously proportioned offices, together with ancillary kitchen and WC facilities at second floor level. The upper floor offices have the advantage of being accessible via a second entrance onto Silver Street and are therefore capable of being sublet, if required.
The ground floor accommodation is air-conditioned and the entire building has the benefit of a gas fired central heating system serving radiators throughout.
Sales Area/Reception – 10.1m x 7.2m
With suspended ceiling incorporating air-conditioning units providing an excellent environment for showroom/open-plan workspace.
Rear Office – 2m x 5.7m
With suspended ceiling tiles and radiator.
Additional Office/Staff Room – 3m x 4.6m
Accessed via a rear lobby giving access to an enclosed rear courtyard and access to the large cellar.
The property benefits from having a large dry cellar suitable for use as storage areas, divided into various rooms but extending, in total, to provide a floor area of approximately 76.5 sq.m (823 sq.ft).
Office 1 to Front – 5.03m x 4.7m
Recently decorated with new carpeting, original fireplace, sash window and incorporating two radiators.
Office 2 to Front – 4.9m x 4.7m
Attractively presented and incorporating two sash windows and radiator.
Office 3 to the Rear – 2.9m x 5.2m
With wall and ceiling lights and radiator.
Office 4 to Front – 5m x 4.7m
Attractively presented with original disused Period fireplace and sash window and radiator.
Office 5 to Front – 4.9m x 4.7m
With radiator and two sash windows.
Office 6 to Rear – 2.9m x 5.2m
With sash window and radiator.
In addition to the office accommodation as described above, there are kitchen and WC facilities at second floor level.
The floor areas as set out below are measured on a Net Internal Basis:
Ground Floor Showroom/Open Plan Office – 72.7 sq.m (783 sq.ft)
Rear Office – 11.4 sq.m (123 sq.ft)
Staff Room/Office – 13.8 sq.m (148 sq.ft)
First Floor Office Accommodation – 61.6 sq.m (663 sq.ft)
Second Floor Office Accommodation – 61.5 sq.m (662 sq.ft)
= 221 sq.m (2,379 sq.ft)
SERVICESMains electricity, water, drainage and gas are all connected to the property. A gas fired central heating system is installed serving radiators throughout and the ground floor office space also has the benefit of independent air-conditioning units.
EPC Rating – E.
TERMSThe property is available ‘To Let’ under the terms of a new Full Repairing & Insuring Lease for a term of years to be agreed, subject to three yearly Rent Reviews at an initial rent of £26,000 per annum, exclusive of Business Rates and all other outgoings.
The ingoing Tenant is responsible for the Estate Agent’s Referencing Fee, together with the Landlord’s reasonable legal fees for producing the Lease.
OUTGOINGSThe property is currently assessed as having three individual Rateable Values, the main building comprising ground floor basement and some upper floor accommodation has a Rateable Value of £19,750. In addition, two of the upper floor offices have separate Rateable Values being £1,925 and £2,100 respectively, given that they have previously been sublet. The ingoing Tenant will be responsible for reallocating the Rateable Values into a single unit, if required.
VATVAT may be applicable in addition to the rental levels as set out above.
PLANNINGThe Town & Country Planning
We are advised by the Local Planning Authority that the property has consent for uses falling within Class A2 (Professional Services) of The Town & Country (Uses Classes) Order 1987. The property is deemed appropriate for a range of office, retail and leisure uses, subject to receipt of the necessary Planning Permissions that may be required.
VIEWINGBy prior appointment with Mundys Commercial.