12 Strait Bargate and 2 New Street Boston Lincolnshire PE21 6LR

12 Strait Bargate and 2 New Street
Boston
Lincolnshire
PE21 6LR

Freehold Retail Investment (with Vacant Upper Parts)

Retail let to Nero Holdings Limited (t/a Caffè Nero)
Vacant possession of self-contained upper parts (approx. 2,666 sq ft)
Potential to convert vacant upper parts to residential (subject to consents)
Nearby occupiers include Marks & Spencer, Boots the Chemist, Argos, WH Smith and branches of Nationwide, Lloyds and Halifax banks
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
61
Auction
23rd March 2016
Rent
£55,000 per Annum Exclusive
Status
Sold
Price
£700,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment (with Vacant Upper Parts)

Retail let to Nero Holdings Limited (t/a Caffè Nero)
Vacant possession of self-contained upper parts (approx. 2,666 sq ft)
Potential to convert vacant upper parts to residential (subject to consents)
Nearby occupiers include Marks & Spencer, Boots the Chemist, Argos, WH Smith and branches of Nationwide, Lloyds and Halifax banks
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 61
Auction 23rd March 2016
Rent £55,000 per Annum Exclusive
Status Sold
Price £700,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 47 miles east of Nottingham, 34 miles south-east of Lincoln
Roads: A16, A52
Rail: Boston Railway Station
Air: East Midlands Airport

Situation

The property is situated in an excellent trading location on the western side of Strait Bargate, the prime retailing pitch in Boston town centre. Pescod Square Shopping Centre, housing retailers
such as Next, Waterstones and Wilko is located close by with other neighbouring occupiers including Marks & Spencer, New Look, WHSmith, Argos, Poundstretcher and branches of Nationwide, Lloyds and Halifax banks.

Tenure

Freehold.

Location

Miles: 47 miles east of Nottingham, 34 miles south-east of Lincoln
Roads: A16, A52
Rail: Boston Railway Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a prominent corner unit arranged as a coffee shop on the ground floor, with self-contained accommodation on the first, second and third floors, accessed from New Street.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Ground	Retail/Ancillary	175.08 sq m	(1,885 sq ft)	NERO HOLDINGS LIMITED (1) (t/a Caffè Nero)	10 years from 03/09/2010	£55,000	(02/09/2020)
First Second Third	Former Offices Former Residential Ancillary	133.29 sq m 63.42 sq m 50.88 sq m	(1,435 sq ft) (683 sq ft) (548 sq ft)	VACANT POSSESSION
Totals		422.67 sq m	(4,550 sq ft)			£55,000

(1) For the year ending 31st May 2014, Nero Holdings Limited reported a turnover of £215,496,000, pre-tax profits of £22,538,000 and a total net worth of £144,677,000 (Source: Experian Group 16/02/2015).