Prominent retail position close to the junction of Market Place
Nearby occupiers include Peacocks, Superdrug, The Edinburgh Woollen Mill and Barclays Bank
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 38
Auction 11th February 2016
Rent £52,350 per Annum Exclusive
Status Sold
Price £555,000
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Receivers CBRE
Property Information
Location
Miles
15 miles south of Grimsby, 26 miles east of Lincoln
Roads
A16, A158, M180
Air
Robin Hood (Doncaster Sheffield) Airport
Situation
The property is situated in the attractive market town of Louth in a highly prominent position on the southern side of Eastgate, close to its junction with Market Place and Burnt Hill Lane. Surrounding occupiers include New Look, Peacocks, Superdrug, Heron Foods, Shoe Zone, Greggs and both NatWest and Barclays Banks.
Tenure
Freehold.
Location
Miles
15 miles south of Grimsby, 26 miles east of Lincoln
Roads
A16, A158, M180
Air
Robin Hood (Doncaster Sheffield) Airport
Situation
The property is situated in the attractive market town of Louth in a highly prominent position on the southern side of Eastgate, close to its junction with Market Place and Burnt Hill Lane. Surrounding occupiers include New Look, Peacocks, Superdrug, Heron Foods, Shoe Zone, Greggs and both NatWest and Barclays Banks.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is 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)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground First
Retail Ancillary
228.48 sq m 235.94 sq m
(2,459 sq ft) (2,540 sq ft)
MACKAYS STORES LIMITED (t/a M&Co) (1)
20 years from and including 25/12/1998 on a full repairing and insuring lease
£52,350
25/12/2013 (2) (24/12/2018)
Totals
464.42 sq m
(4,999 sq ft)
£52,350
(1) The first Mackays store opened 50 years ago and has grown from a small family business of just 6 stores to almost 300. Between 2005 and 2007, the store portfolio was expanded and upgraded, and Mackays successfully re branded to the more contemporary M&Co fascia. They currently employ more than 3,900 staff (Source: www. Mandco.com) (2) Please refer to the legal pack for further information.
