Freehold Retail Investment on a new 3 year lease (1)
Prominent Town Centre Location
New 3 year lease
Stepped Rental Increases - Year 2 - £12,000 & Year 3 - £15,000 (1)
Nearby occupiers include Greggs, Cooplands, Boots, Sainsburys Local, Nationwide and Costa Coffee.
VAT-free investment
Lot 54
Auction 16th June 2021
Rent £10,000 per Annum Exclusive
Status Sold
Price £129,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Instructions of a Major Property Company
Property Information
Location
Miles
2 miles south-east of Grimsby
16 miles south-east of Hull
22 miles east of Scunthorpe
32 miles north-east of Lincoln
Roads
M181, A46, A16
Rail
Cleethorpes Rail
Air
Humberside Airport, Robin Hood Doncaster Sheffield Airport
Situation
Cleethorpes is a seaside resort on the Humber estuary located 2 miles south-east of Grimsby town centre, 22 miles east of Scunthorpe and 32 miles north-east of Lincoln. The property is centrally located to the west side of St Peters Avenue in Cleethorpes town centre. Nearby occupiers including Greggs, Cooplands, Boots, Sainsburys Local, Nationwide and Costa Coffee.
Tenure
Freehold.
Location
Miles
2 miles south-east of Grimsby
16 miles south-east of Hull
22 miles east of Scunthorpe
32 miles north-east of Lincoln
Roads
M181, A46, A16
Rail
Cleethorpes Rail
Air
Humberside Airport, Robin Hood Doncaster Sheffield Airport
Situation
Cleethorpes is a seaside resort on the Humber estuary located 2 miles south-east of Grimsby town centre, 22 miles east of Scunthorpe and 32 miles north-east of Lincoln. The property is centrally located to the west side of St Peters Avenue in Cleethorpes town centre. Nearby occupiers including Greggs, Cooplands, Boots, Sainsburys Local, Nationwide and Costa Coffee.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation above.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.nelincs.gov.uk
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Description
The property comprises a ground floor shop with ancillary accommodation above.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.nelincs.gov.uk
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground First
Retail Ancillary
75.88 sq m 45.13 sq m
(816 sq ft) (485 sq ft)
E Liquid Stores Limited t/a eco Vape (2)
3 years from 30/03/2021
£10,000 (3)
Year 1 £10,000 pa Year 2 £12,000 pa Year 3 £15,000 pa (1) (29/03/2024)
Total
121.01 sq m
(1,301 sq ft)
£10,000
(1) Mutual option to determine on 30th March 2023, upon 3 months notice (2) Operate from 24 shops (source: www.eco-vape.co.uk) (3) Rent Deposit held of £5,000
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
Addleshaw Goddard LLP One St Peter's Square, 27 Quay Street Manchester M2 3DE
