LOCATION
The property occupies a prime position on Steep Hill, famed for its eclectic mix of boutiques and restaurants and located within the main historic tourist district of Lincoln, providing a pedestrian link between Lincoln's High Street to the south and the Castle & Cathedral to the north. Steep Hill and Bailgate areas are very busy tourist attractions, with Lincoln having a population of around 130,000 residents, being a vibrant city, which in addition to its rich cultural history, has a gas growing University and other excellent facilities, resulting in Lincoln being a popular tourist destination and a great place to live.

DESCRIPTION
We are delighted to offer this rare opportunity to let this prime retail unit by way of an assignment of the existing Lease, currently trading as The Lincoln Imporium (https://lincolnimporium.co.uk/). The property is situated within Lincoln's primary tourist district, the famous 'Steep Hill' medieval cobbled pedestrian link between Lincoln's High Street and the Bailgate district, which includes the Castle and Cathedral. Consideration would be given to the sale of the existing business and further details are available on request.

ACCOMMODATION
The ground floor retail space is 5m x 5.3m.

From the sales area, there is access to a basement store - 4.9m x 4.5m and at first floor level, there is an office/store room (4.5m x 2.7m), together with a kitchen and WC compartment off.

In addition, there is a large first floor office/workshop area extending to 6.2m x 5m maximum, which has potential as a rentable space for further income generation.

SERVICES
All mains electric and water are connected. Heating is fed by an electric boiler in the kitchen serving radiators throughout the accommodation.

EPC Rating - A (However, the property is Grade II Listed)

TERMS
Lease Terms - The property is available by way of an assignment of the existing Lease, which expires on 30th September 2029 at an annual rent of £30,000. The Lease is a conventional internal repairing & insuring Lease and the ingoing Tenant is responsible for all legal costs involved with the assignment of the existing Lease. Further details are available on request.

A deposit will also be payable of £7,500 to the Landlord.

OUTGOINGS
Rateable Value - £15,750

Based on the Small Business Multiplier for Retail, Hospitality and Leisure uses, the rate payable for this current financial year are £6,016.50 (43.2 pence in the £. for 2026/2027). From April 2027, the rateable value threshold for 100% Small Business Rates Relief for qualifying Retail, Hospitality and Leisure (RHL) properties rises from £12,000 to £18,000.

VAT
VAT is not payable on the purchase price or the annual rent charged.

LEGAL COSTS
The ingoing Tenant is responsible for the Agent's referencing fee of £150 inc VAT, together with the reasonable legal costs associated with assigning the Lease. Further details are available on request.

A deposit will also be payable.

VIEWING
Via Mundys Commercial