Leisure/hospitality for sale in Witham Park, Waterside South, Lincoln LN5, £750,000

750,000.00

Offer Nr.:
64023748
Type of ad:
for Sale
Property type:
Leisure/hospitality
Contact name:
Banks Long & Co
Phone(s):
01522 397760

**Description**
The property comprises a substantial three storey mid terrace building that is
fitted out and has been used as a gym for many years, with parking outside for
around 100 vehicles.
The property sits mid - way along the building known as Witham Park House and
previously known as the 'Titanic Works'.
Laid out over three floors, the accommodation has the swimming pool and
changing rooms, together with a children's creche at ground floor level, the
gym area, fitness rooms and café on the first floor and finally further
fitness rooms and the plant areas on the second floor.
There is lift access as well as various stairwells between the different floor
levels. The vast majority of the M&E has been left insitu ready for use by an
incoming occupier. To fully appreciate the scale of the accommodation and the
extent of the existing fit out we would strongly recommend undertaking a
viewing of the property.
EPC: C56
**Location**
The property enjoys an easily accessible location just off Great Northern
Terrace, about half a mile to the south east of Lincoln City Centre. The
surrounding area is mixed use in character with the predominant use in the
immediate vicinity being office use, with nearby occupiers including
Lincolnshire County Council and the local nhs Trust.
The existing fitness offer in the city is well dispersed, with the majority
located around the south - west quadrant, meaning that there is an extensive
catchment including the villages to the south east of Lincoln, for the
operator of this fitness centre to draw from.
Lincoln is the administrative and main shopping centre for the County of
Lincolnshire with an urban population of circa 130, 000 and a total catchment
population of close to 550, 000, giving a total catchment spend of over £985
million. It is also a growing University city with over 15, 000 students and
staff based on the main campus in Lincoln, which contributes an estimated
£250, 000, 000 to the local economy. The university is located about a 1/3 of a
mile to the west of the city centre, so again within easy reach of the subject
property.
**Services**
We understand that main services are available and connected to the property.
These have not been tested and interested parties are advised to make their
own enquiries to the relevant utility service providers in this regard.
**Town & country planning**
We understand the property has a long established consent as a gym/fitness
centre, a use falling now within Class E (Commercial, Business and Service
Uses) of the Town and Country Use Classes Order 1987 (as amended).
Following changes to the use classes order that came into effect on 1
September 2020, Class E now encompasses a number of uses including formerly
known as A1 (Shops), A2 (Professional and Financial Services), A3 (Restaurants
and Cafes), B1 (Offices), D1 (Non - Residential Institutions) and D2 (Assembly
and Leisure) which will have been the previous use of this building.
**Tenure**
The property is available To Let by way of a new lease drawn on the equivalent
of Full Repairing and Insuring terms for a minimum term of 10 years, subject
to 5 yearly rent reviews.
**Rent**
The property is available to let as a whole. The rent payable is available on
application based on a letting on the terms set out above.
**VAT**
VAT will be charged in addition to the rent at the prevailing rate.
**Legal costs**
The ingoing tenant is to be responsible for the landlords reasonable legal
costs incurred in documenting this transaction.

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