Majority Freehold Retail, Office and Development Opportunity
Currently comprises terrace of 5 retail/leisure units and a substantial 5 storey office building
Prior approval granted on Imperial House for 24 apartments
Further redevelopment potential (subject to consents)
Low capital value psf
Riverhead Floor Area of approx. 3,992.07 sq m (42,981 sq ft)
Imperial House Floor Area of approx. 2,463.79 sq m (26,520 sq ft)
Site area of 1.17 Acres (0.47 Ha)
Prominent City Centre location opposite Freshney Place Shopping Centre
Lot 47
Auction 25th September 2024
Vacant Possession
Status Available
Guide* £500,000 - £600,000
Sector Development
Auction Venue Live Streamed Auction
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
33 miles south-east of Kingston upon Hull, 35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby Town Railway Station
Air
Humberside Airport
Situation
Grimsby, with a resident population of circa 100,000, is a well established commercial centre for North East Lincolnshire and also providing a major fishing port. The town is well situated with road connections to the A180/M180 which in turn provides access to the M18, the Humber Bridge and Humberside International Airport.
The property is prominently located in central Grimsby, some 400 metres from Grimsby Town Railway Station, with frontages onto Frederick Ward Way (A1136) and Victoria Street. The property is conveniently positioned opposite Freshney Place Shopping Centre, with occupiers including Primark, Marks and Spencer, Waterstones, Clarks, TK Maxx and Costa Coffee.
Tenure
Freehold. Car Park held Long Leasehold, held from North East Lincolnshire Council for a term of 99 years from 15/12/2000 (Highlighted Blue on plan within the auction particulars).
Location
Miles
33 miles south-east of Kingston upon Hull, 35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby Town Railway Station
Air
Humberside Airport
Situation
Grimsby, with a resident population of circa 100,000, is a well established commercial centre for North East Lincolnshire and also providing a major fishing port. The town is well situated with road connections to the A180/M180 which in turn provides access to the M18, the Humber Bridge and Humberside International Airport.
The property is prominently located in central Grimsby, some 400 metres from Grimsby Town Railway Station, with frontages onto Frederick Ward Way (A1136) and Victoria Street. The property is conveniently positioned opposite Freshney Place Shopping Centre, with occupiers including Primark, Marks and Spencer, Waterstones, Clarks, TK Maxx and Costa Coffee.
Tenure
Freehold. Car Park held Long Leasehold, held from North East Lincolnshire Council for a term of 99 years from 15/12/2000 (Highlighted Blue on plan within the auction particulars).
Description
The property currently comprises a terrace of 5 ground floor retail/leisure units, two of which have first floor ancillary accommodation (Riverhead), together with an adjoining substantial 5 storey office building (Imperial House) and surface car park. The total site area extends to some 1.17 Acres (0.47 Ha).
VAT
VAT is applicable to this lot.
Planning
Prior approval has been granted for Imperial House, 77 Victoria Street from North East Lincolnshire Council under planning ref DM/0779/21/PAC for the proposed conversion of offices to 24 residential apartments (www.nelincs.gov.uk/planning-and-building-control/planning-applications/planning-portal/).
Note
This property is being marketed for sale on behalf of Receivers and therefore no warranties, representations or guarantees are given or will be given by the Receivers or the Auctioneers in respect of the information in these particulars or any matter relating to the property, including VAT. Any information provided is provided without liability on the part of the Receivers and Auctioneers for any reliance placed on it. The Receivers are acting without personal liability and are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property currently comprises a terrace of 5 ground floor retail/leisure units, two of which have first floor ancillary accommodation (Riverhead), together with an adjoining substantial 5 storey office building (Imperial House) and surface car park. The total site area extends to some 1.17 Acres (0.47 Ha).
VAT
VAT is applicable to this lot.
Planning
Prior approval has been granted for Imperial House, 77 Victoria Street from North East Lincolnshire Council under planning ref DM/0779/21/PAC for the proposed conversion of offices to 24 residential apartments (www.nelincs.gov.uk/planning-and-building-control/planning-applications/planning-portal/).
Note
This property is being marketed for sale on behalf of Receivers and therefore no warranties, representations or guarantees are given or will be given by the Receivers or the Auctioneers in respect of the information in these particulars or any matter relating to the property, including VAT. Any information provided is provided without liability on the part of the Receivers and Auctioneers for any reliance placed on it. The Receivers are acting without personal liability and are not bound to accept the highest or any offer.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Building
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Possession
Imperial House
Office
2,463.79
(26,520)
VACANT POSSESSION
Riverhead Units 1, 2-3, 4, 5, 5a
Retail/Leisure
3,993.07
(42,981)
VACANT POSSESSION
Total
6,456.86
(69,501)
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.
