Freehold Government Let Residential Apartment Block investment
Let to North East Lincolnshire Council until 2033 (No Breaks)
Rent Paid Annually in Advance
Rent Reviewed inline with the Consumer Price Index (CPI) subject to a minimum of 1% and a maximum of 4% per annum exclusive annually compounded
Comprises 29 One and Two Bed Residential Apartments
Benefits from Private and Secure Parking for Approximately 21 Cars
1 Mile from Grimsby Town Centre
Lot 12
Auction 12th December 2024
Rent £286,520 per Annum Exclusive Risng to a Minimum of £304,758.08 and a Maximium of £342,625.86 in July 2028
Status Available
Guide* £3,100,000 - £3,200,000
Sector Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
33 miles south-east of Kingston upon Hull, 35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby 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 a major fishing port. The town has excellent communications with road connections to the A180/M180 which provides access to the M18, the Humber Bridge and Humberside International Airport.
The property is situated less than 1 mile west of Grimsby town centre, at the junction of New Haven Terrace and Clavering Street. The surrounding area is predominantly residential with a number of local businesses nearby.
Tenure
Freehold.
Location
Miles
33 miles south-east of Kingston upon Hull, 35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby 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 a major fishing port. The town has excellent communications with road connections to the A180/M180 which provides access to the M18, the Humber Bridge and Humberside International Airport.
The property is situated less than 1 mile west of Grimsby town centre, at the junction of New Haven Terrace and Clavering Street. The surrounding area is predominantly residential with a number of local businesses nearby.
Tenure
Freehold.
Description
The property is a substantial residential apartment block comprising 12 x one bedroom and 17 x two bedroom apartments. The property also benefits from a private and gated car park with space for approximately 21 cars.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is a substantial residential apartment block comprising 12 x one bedroom and 17 x two bedroom apartments. The property also benefits from a private and gated car park with space for approximately 21 cars.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First Second
12 x 1 bedroom and 17 x 2 bedroom Residential Apartments
-
-
NORTH EAST LINCOLNSHIRE BOROUGH COUNCIL
10 years from 09/08/2023
£286,520
09/08/2028 linked to the Consumer Price Index subject to a minimum of 1% and a maximum of 4% per annum compounded. (1)
Total Approximate Floor Area
-
-
£286,520 Rising to a minimum of £316,341 pax and a maximum of £348,595 pax in 2028 (1)
(1) The lease provides for the rent to be reviewed on 9th August 2028 in line with the Consumer Price Index (CPI) subject to a minimum of 1% and a maximum of 4% per annum exclusive annually compounded,
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.
