Two shops both recently let on 10-year leases from June & September 2024 (subject to mutual options)
Shops trading as a hair salon and a vape shop
Prominent local retail parade
Nearby occupiers include Co-op Convenience Store (opposite), Lidl, Heron Foods, Greggs and a mix of independent retailers
VAT-free investment
Lot 34
Auction 7th November 2024
Rent £15,000 per Annum Exclusive
Status Available
Guide* £110,000 - £120,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles east of Louth, 20 miles north of Skegness
Roads
A52, A157, A1031, A1104
Rail
Skegness Railway Station
Air
Humberside Airport
Situation
The property is prominently situated on the east side of Seacroft Road, in the heart of the town centre. Nearby occupiers include Co-op Convenience Store (opposite), Lidl, Heron Foods, Greggs and a mix of independent retailers.
Tenure
Freehold.
Location
Miles
10 miles east of Louth, 20 miles north of Skegness
Roads
A52, A157, A1031, A1104
Rail
Skegness Railway Station
Air
Humberside Airport
Situation
The property is prominently situated on the east side of Seacroft Road, in the heart of the town centre. Nearby occupiers include Co-op Convenience Store (opposite), Lidl, Heron Foods, Greggs and a mix of independent retailers.
Tenure
Freehold.
Description
The property comprises two shops, each arranged on the ground floor, forming part of a larger building.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
82 Seacroft Road - Band C
82a Seacroft Road - Band D
Description
The property comprises two shops, each arranged on the ground floor, forming part of a larger building.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
82 Seacroft Road - Band C
82a Seacroft Road - Band D
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x.
Rent Review
82 Seacroft Road
Ground
Retail/Ancillary
53.63
(577)
D. P. POTTER (t/a Sue's Salon)
10 years from 06/09/2024 (2)
£7,500
06/09/2029
82a Seacroft Road
Ground
Retail/Ancillary
53.93
(580)
E-LIQUID STORES LIMITED (t/a Eco Vape)
10 years from 01/07/2024 (3)
£7,500
01/07/2029
Total
107.56
(1,157)
£15,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) The lease is subject to a mutual option to determine on 06/09/2029. (3) The lease is subject to a mutual option to determine on 01/07/2029.
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.
