73 Kingsway Boston Lincolnshire PE21 0AR

73 Kingsway
Boston
Lincolnshire
PE21 0AR

Freehold Care Home Investment

Let to Progress Housing Association Limited - a social housing provider registered with Homes England, which receives its funding from Local Authorities
Lease expires September 2026
Uncapped Annual RPI Rent Reviews
Located in a predominantly residential location approximately one mile south-east of Boston town centre
VAT-free Investment

Lot
60
Auction
11th July 2018
Rent
£36,359 per Annum
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees

Important Update Interested?

Expand
Photos
Map

Freehold Care Home Investment

Let to Progress Housing Association Limited - a social housing provider registered with Homes England, which receives its funding from Local Authorities
Lease expires September 2026
Uncapped Annual RPI Rent Reviews
Located in a predominantly residential location approximately one mile south-east of Boston town centre
VAT-free Investment

Lot 60
Auction 11th July 2018
Rent £36,359 per Annum
Status Sold Prior
Price
Sector
Medical Centre/Doctors, Healthcare
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Trustees

Property Information

Location

Miles: 1 miles south-east of Boston town centre, 34 miles south-east of Lincoln
Roads: A16, A52
Rail: Boston Railway Station
Air: East Midlands Airport

Situation

The property is situated in a predominantly residential area approximately one mile south-east of Boston town centre. The property benefits from a number of local amenities with regular buses into Boston town centre.

Tenure

Freehold.

Location

Miles: 1 miles south-east of Boston town centre, 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 detached care home arranged on the ground and first floors. The property benefits from a garden and outhouse to the rear and off-street car parking.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises a detached care home arranged on the ground and first floors. The property benefits from a garden and outhouse to the rear and off-street car parking.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Floor	Accommodation	Tenant	Term	Rent p.a.x.	Reviews
Ground/First	7 rooms, conservatory, kitchen, bathroom & WC	PROGRESS HOUSING ASSOCIATION LIMITED (1)	20 years from 07/09/2006 until 06/09/2026 on a full repairing and insuring lease	£36,359.16	Uncapped RPI linked rent reviews on 07/09/2018 and annually thereafter
Total				£36,359.16

(1) Progress Housing Association Limited is a subsidiary of Progress Housing Group, one of the UK’s leading social housing providers, providing high quality housing solutions for individuals with a range of support needs. Progress Housing Association covers over 100 local authorities providing more than 3,100 units of accommodation. For the year to 2017, Progress Housing Group reported a turnover of £74.5 million and net assets of £238 million. (Source: www.progressgroup.org.uk - Report & Accounts - 11/06/2018).

NB: The Property is subject to an option to purchase in favour of Progress Care Housing Association Limited. The option can be exercised at any time during the term of the lease by Progress Care Housing Association Limited serving notice confirming that the property is and has been vacant for a period of more than three months. The option to purchase expires if it has not been exercised by 6th June 2026. The option to purchase would be the greater of OMV or £356,085.