25, 26, 26a and 26b Market Place Boston Lincolnshire PE21 6EH

  • 25, 26, 26a and 26b Market Place<br>Boston<br>Lincolnshire<br>PE21 6EH

25, 26, 26a and 26b Market Place
Boston
Lincolnshire
PE21 6EH

Freehold Retail Investment

  • Entirely let to Boots UK Limited until June 2024 (No breaks)
  • Rebased rent from 2014 (previously £195,000 p.a.x.)
  • Part sublet to Cancer Research
  • Potential to Convert/Relet Unoccupied Second Floor (subject to lease and consents)
  • Rare Large Town Centre Site circa 0.8 acres - including 30,800 sq ft building
  • Close to Marks & Spencer, Caffè Nero, Greggs and branches of HSBC and NatWest Banks
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    15
  • Auction
    30th March 2017
  • Rent
    £165,001 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,100,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Interested?
  • Expand
  • Photos
  • Map

Freehold Retail Investment

  • Entirely let to Boots UK Limited until June 2024 (No breaks)
  • Rebased rent from 2014 (previously £195,000 p.a.x.)
  • Part sublet to Cancer Research
  • Potential to Convert/Relet Unoccupied Second Floor (subject to lease and consents)
  • Rare Large Town Centre Site circa 0.8 acres - including 30,800 sq ft building
  • Close to Marks & Spencer, Caffè Nero, Greggs and branches of HSBC and NatWest Banks
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 15
  • Auction 30th March 2017
  • Rent £165,001 per Annum Exclusive
  • Status Sold
  • Price £2,100,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

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

The property is situated on the eastern side of Market Place, which connects to Strait Bargate to
the north, in the heart of Boston town centre. Nearby occupiers include Marks & Spencer and branches of NatWest, Halifax and Lloyds banks. Pescod Square Shopping Centre is a short walk away with occupiers including Costa, Wilko, Waterstones, Peacocks and Superdrug. Market Place provides street car parking for approximately 120 cars and is home to Boston Market that is held twice a week.

Tenure

Freehold.

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

The property is situated on the eastern side of Market Place, which connects to Strait Bargate to
the north, in the heart of Boston town centre. Nearby occupiers include Marks & Spencer and branches of NatWest, Halifax and Lloyds banks. Pescod Square Shopping Centre is a short walk away with occupiers including Costa, Wilko, Waterstones, Peacocks and Superdrug. Market Place provides street car parking for approximately 120 cars and is home to Boston Market that is held twice a week.

Tenure

Freehold.

Description

The property comprises two ground floor shops with office/ancillary accommodation on the first and second floors. The first and second floors can be accessed via an entrance from Grant’s Lane. The property benefits from a large site totalling 0.8 acres.

VAT

VAT is applicable to this lot.

Viewings

There will be accompanied viewings for this property on Wednesday 15th March and
Wednesday 22nd March. If you would like to attend either of these viewings you will need to register
your details with the Auctioneers first. Please contact George Watkins - E: george.watkins@acuitus.co.uk

Completion Period

Six Week Completion

EPC

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

Description

The property comprises two ground floor shops with office/ancillary accommodation on the first and second floors. The first and second floors can be accessed via an entrance from Grant’s Lane. The property benefits from a large site totalling 0.8 acres.

VAT

VAT is applicable to this lot.

Viewings

There will be accompanied viewings for this property on Wednesday 15th March and
Wednesday 22nd March. If you would like to attend either of these viewings you will need to register
your details with the Auctioneers first. Please contact George Watkins - E: george.watkins@acuitus.co.uk

Completion Period

Six Week Completion

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
Ground
Ground (sublet)
First (sublet)
Second (unoccupied)
 Retail/Ancillary
Retail/Ancillary
Offices/Ancillary
Offices/Ancillary
2,243.61 sq m
88.82 sq m
265.05 sq m
264.59 sq m
(24,150 sq ft)
(956 sq ft)
(2,853 sq ft)
(2,848 sq ft)
 BOOTS UK
LIMITED (2)
 10 years from and including
13/06/2014 to
and including
12/06/2024 on a
full repairing and insuring
lease
 £165,000
 13/06/2019
Totals
2,862.07 sq m (1)
(30,807 sq ft) (1)
     £165,000
  

(1) Floor Areas as agreed at 2008 Rent Review.
(2) For the year ending 31st August 2015, Boots UK Limited reported a turnover of £9,198,000,000, pre-tax profits of £542,000,000 and a total net worth of £367,000,000 (Source: Experian Group 22/02/2017). Part of the property is sublet to a tenant trading as Cancer Research UK at a current rent of £25,000 per annum.
NB: Please note that there is an electricity substation to the rear of the property currently let at a rent of £1.05 per annum.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Lambert Smith Hampton
Sam Elkington 01522 814696selkington@lsh.co.uk
Seller's Solicitors
ASB Law Horizon House, Eclipse Park, Sittingbourne Road
Maidstone
ME14 3EN
Angela Ruminski 01622 656 526angela.ruminski@asb-law.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

You may also be interested in

By clicking the Submit button I confirm that I would like to get updates on this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

We will keep you updated about lot xthis property.

In the meantime, if you would like to speak to the Surveyor about this property, please call on .

Are you sure you want to remove this property from your Watch List?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?