138-140 Drummond Road Skegness Lincolnshire PE25 3ES

138-140 Drummond Road
Skegness
Lincolnshire
PE25 3ES

Freehold Retail and Residential Investment

  • Let to A F Blakemore and Son Limited (t/a SPAR) until 2019
  • Includes 2 x recently refurbished self-contained maisonettes and 3 x self-contained flats
  • Important and popular Holiday Town
  • Lot
    46
  • Auction
    11th December 2014
  • Rent
    £38,600 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
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  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Residential Investment

  • Let to A F Blakemore and Son Limited (t/a SPAR) until 2019
  • Includes 2 x recently refurbished self-contained maisonettes and 3 x self-contained flats
  • Important and popular Holiday Town
  • Lot 46
  • Auction 11th December 2014
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
37 miles east of Lincoln
55 miles north-east of Peterborough
63 miles north-east of Nottingham
Roads
A52, A168, A16, M1
Rail
Skegness Railway Station
Air
Robin Hood Doncaster/Sheffield Airport, Norwich International Airport
Situation

The property is situated in a prominent location on Drummond Road, an important road leading into Skegness town centre from Gibraltar Point Nature Reserve and Seacroft Golf Club.
Neighbouring occupiers include a number of independent retailers.
The property is approximately 500 metres from Richmond Holiday Centre.

Tenure

Freehold.

Location
Miles
37 miles east of Lincoln
55 miles north-east of Peterborough
63 miles north-east of Nottingham
Roads
A52, A168, A16, M1
Rail
Skegness Railway Station
Air
Robin Hood Doncaster/Sheffield Airport, Norwich International Airport
Situation

The property is situated in a prominent location on Drummond Road, an important road leading into Skegness town centre from Gibraltar Point Nature Reserve and Seacroft Golf Club.
Neighbouring occupiers include a number of independent retailers.
The property is approximately 500 metres from Richmond Holiday Centre.

Tenure

Freehold.

Description

The property comprises ground floor retail and ancillary accommodation, with 2 self-contained maisonettes on the first and second floors and 3 self-contained flats on the first floor. The residential accommodation is accessed to the rear of the property.

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 comprises ground floor retail and ancillary accommodation, with 2 self-contained maisonettes on the first and second floors and 3 self-contained flats on the first floor. The residential accommodation is accessed to the rear of the property.

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) Tenant Term Rent p.a.x Reversion
Ground Retail
395.62 sq m
(4,258 sq ft)
A F BLAKEMORE
AND SON LIMITED
(t/a SPAR) (1)
21 years from 28/09/1998 £25,250 27/09/2019
Ground (Rear) Storage
46.45 sq m
(500 sq ft)
VACANT
POSSESSION
     
First and
Second
2 Bedroom
Maisonette
INDIVIDUALS 6 month Assured Shorthold
Tenancy from 07/11/2014
£6,000 (2)  
First and
Second
3 Bedroom
Maisonette
INDIVIDUALS 6 month Assured Shorthold Tenancy from 11/07/2014 £6,600 (2)  
First (Rear) 3 x Flats
Not measured
INDIVIDUALS Let on 3 individual
125 year leases
£750  
Total Commercial
442.07 sq m
(4,758 sq ft)
    £38,600

(1) For the year ending 30/04/2013, A F Blakemore and Son Limited reported a turnover of £1,135,382,000, pre-tax profits of £7,081,000 and a total net worth of £50,293,000. (Source: www.riskdisk.com 17/09/2014). A F Blakemore & Son Ltd is the largest division of SPAR UK owning 307 SPAR Stores and serving more than 940 in total across England and Wales employing over 7,900 people
(Source: www.afblakemore.com)
(2)The rent has been annualised.

Property Documents

  • Catalogue Page
    Updated Date
    18.11.14
    File Size
    560 KB
    View PDF
  • Site Plan
    Updated Date
    18.11.14
    File Size
    73 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
DLH Solicitors 6 Church Street
Clitheroe
BB7 2DG
Peter Lavery 01200 538 578peter@dlhsolicitors.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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