The George Shopping Centre High Street Grantham Lincolnshire NG31 6LH

  • The George Shopping Centre<br>High Street<br>Grantham<br>Lincolnshire<br>NG31 6LH

The George Shopping Centre
High Street
Grantham
Lincolnshire
NG31 6LH

Freehold Shopping Centre and Office Investment

  • Retail units and office accommodation over three floors
  • Prominent town centre location benefiting from frontages onto High Street, Guildhall Street and Westgate
  • Occupiers include Pizza Express, The Edinburgh Woollen Mill and Grantham College
  • Rent: £353,927 p.a. (gross)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    30
  • Auction
    22nd October 2015
  • Rent
    £353,927 per Annum
  • Status
    Sold
  • Price
    £1,900,000
  • Sector
    Shopping Centre
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Pension Fund
Important Update
  • Expand
  • Photos
  • Map

Freehold Shopping Centre and Office Investment

  • Retail units and office accommodation over three floors
  • Prominent town centre location benefiting from frontages onto High Street, Guildhall Street and Westgate
  • Occupiers include Pizza Express, The Edinburgh Woollen Mill and Grantham College
  • Rent: £353,927 p.a. (gross)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 30
  • Auction 22nd October 2015
  • Rent £353,927 per Annum
  • Status Sold
  • Price £1,900,000
  • Sector
    Shopping Centre
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Pension Fund

Property Information

Location
Miles
25 miles east of Nottingham, 33 miles north-east of Leicester, 36 miles north of Peterborough
Roads
A52, A1
Rail
Grantham Rail (approx. 60 mins to London Kings Cross)
Air
East Midlands Airport
Situation

The property, a part Grade II and Grade II* listed building, comprises a shopping centre providing 23 retail units on the ground floor with retail/office units on the first floor and additional office accommodation on the second floor. The property benefits from on-site tenant car parking for approximately 41 cars.

Tenure

Freehold.

Location
Miles
25 miles east of Nottingham, 33 miles north-east of Leicester, 36 miles north of Peterborough
Roads
A52, A1
Rail
Grantham Rail (approx. 60 mins to London Kings Cross)
Air
East Midlands Airport
Situation

The property, a part Grade II and Grade II* listed building, comprises a shopping centre providing 23 retail units on the ground floor with retail/office units on the first floor and additional office accommodation on the second floor. The property benefits from on-site tenant car parking for approximately 41 cars.

Tenure

Freehold.

Description

The property is situated in a prominent location within the heart of the town centre on the western side of the High Street with additional frontages on to Guildhall Street and Westgate. The property is a short walk from Grantham Railway Station (approx. 65 mins to London Kings Cross) and approximately 350 metres from the Isaac Newton Shopping Centre which houses retailers including Costa Coffee, Superdrug, Specsavers, O2 and Wilko. Other nearby occupiers include Argos, Subway, HSBC and Lloyds Pharmacy.

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 is situated in a prominent location within the heart of the town centre on the western side of the High Street with additional frontages on to Guildhall Street and Westgate. The property is a short walk from Grantham Railway Station (approx. 65 mins to London Kings Cross) and approximately 350 metres from the Isaac Newton Shopping Centre which houses retailers including Costa Coffee, Superdrug, Specsavers, O2 and Wilko. Other nearby occupiers include Argos, Subway, HSBC and Lloyds Pharmacy.

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

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a. (gross) Reviews/(Reversion)
1 Ground Retail
364 sq m
(3,914 sq ft)
 GEORGE’S CARVERY GRANTHAM LIMITED 10 years from 10/09/2015 until
09/09/2025		 £19,000 10/09/2018 and
3 yearly
8 Ground Retail
135 sq m
(1,457 sq ft)
 TEASPOON TEA COMPANY LIMITED 5 years from 21/03/2014* £8,000 (20/03/2019)
14 & 14a Ground Retail
303 sq m
(3,260 sq ft)
 PIZZAEXPRESS (RESTAURANTS) LIMITED 33 years from 24/06/1999 until
23/06/2032		 £44,500 24/06/2019
and five yearly
18 & 19 Ground Retail
220 sq m
(2,371 sq ft)
 THE EDINBURGH WOOLLEN MILL LIMITED 2 years from 01/04/2015* Peppercorn (31/03/2017)
25 Ground Retail
68 sq m
(737 sq ft)
 LUNETTES OPTICIANS LTD (with guarantee) 5 years from 29/09/2015* £13,500 (28/09/2020)
26 Ground Retail
175 sq m
(1,888 sq ft)
 AYMATT LIMITED Approx 7 years 5 months from
25/03/2015*		 £24,650 10/12/2017
3, 5, 12, 15, 16,
17, 20, 23, 24, 27		 Ground Retail
762 sq m
(8,189 sq ft)
 VARIOUS INDIVIDUAL TENANTS (1) 10 separate leases let for terms
expiring between August 2017 and
August 2024*		 £80,550  
2,4, 6 & 7, 9, 10
& 11, 13 and 21 &
22		 Ground Retail
988 sq m
(10,632 sq ft)
 VACANT POSSESSION      
28, 41 & 42 First Gym
378 sq m
(4,071 sq ft)
 FEEL GOOD ENTERPRISES LIMITED 10 years from 10/09/2015 until
28/09/2025*		 £31,000 29/09/2020
29 First Office
77 sq m
(831 sq ft)
 CREEPERHOST LIMITED 5 years from 12/01/2015* £8,750 (11/01/2020)
30 First Office
49 sq m
(528 sq ft)
 EDUCATION RECRUITMENT LIMITED 5 years from 22/07/2013 £5,800 (21/07/2018)
31 & 32 First Office
90 sq m
(966 sq ft)
 CREEPERHOST LIMITED 7 years from 28/05/2013 £9,500 (27/05/2020)
33, 34 & 35 First Office
370 sq m
(3,979 sq ft)
 GRANTHAM COLLEGE 20 years from 16/05/2003 until
15/05/2023*		 £41,087 16/05/2013 and
16/05/2018
36 First Office
37 sq m
(401 sq ft)
 TROPICANA TAN (GRANTHAM) LIMITED Approx 10 years 4 months from
17/08/2014 until 22/12/2024*		 £1,250 23/12/2019
37 First Office
49 sq m
(532 sq ft)
 TROPICANA TAN (GRANTHAM) LIMITED 15 years from 23/12/2009 until
22/12/2024*		 £5,850 23/12/2019
38 First Office
69 sq m
(741 sq ft)
 NEXT STEP RECRUITMENT LIMITED 5 years from 26/01/2012* £7,500 (25/01/2017)
39 First Office
68 sq m
(730 sq ft)
 PEARSON PROFESSIONAL ASSESSMENTS LIMITED 5 years from 15/10/2014 until
14/10/2019*		 £8,750 30/06/2017
40 First Office
93 sq m
(1,004 sq ft)
 GRANTHAM COLLEGE 20 years from 15/10/2002 until
14/10/2022*		 £11,615 15/10/2017
Suite 1 Second Office
205 sq m
(2,205 sq ft)
 VACANT POSSESSION      
Suite 2 Second Office
167 sq m
(1,800 sq ft)
 CREEPERHOST LIMITED Approx 2 years 4 months from
04/02/2014*		 £10,800 (27/05/2016)
Suite 3 Second Office
33 sq m
(358 sq ft)
 YELL TECH LIMITED 3 years from 29/09/2014* £3,500 (28/09/2017)
Suite 4 Second Office
21 sq m
(228 sq ft)
 M M SHOPFITTING & JOINERY LIMITED 3 years from 14/09/2013* £2,300 (13/09/2016)
Suite 5 Second Office
22 sq m
(237 sq ft)
 INDIVIDUALS (t/a RecruitME) 3 years from 20/02/2015 £2,400 (19/02/2018)
Suite 6 Second Office
37 sq m
(399 sq ft)
 VACANT POSSESSION      
Store Room 109 Car Park Store
39 sq m
(415 sq ft)
 CREEPERHOST LIMITED 6 years 7 months from 01/11/2013 £3,725 (27/05/2020)
Car Parking    
22 Spaces
 VARIOUS Let on separate licences. Majority
let for 1 year from 01/01/2015		 £9,900 (£450
per space)		 (31/12/2015)
Car Parking    
3 Spaces
VARIOUS Long leases Peppercorn  
Car Parking    
16 Spaces
 VACANT POSSESSION      
Totals    
4,819 sq m
(51,873 sq ft)
     £353,927  

* Subject to break option(s). Please refer to full tenancy schedule in the legal pack.
(1) Please refer to the full tenancy schedule in the legal pack for information.
(2)Please note that the floor areas have been provided by the seller. The property has not been measured by the auctioneers and although the seller has no reason to doubt their accuracy, the purchaser must rely solely upon their own enquiries.

Property Documents

  • Catalogue Page
    Updated Date
    30.09.15
    File Size
    990 KB
    View PDF
  • Site Plan
    Updated Date
    30.09.15
    File Size
    140 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

Seller's Solicitors
Bates Solicitors 43 Essex Street
London
WC2R 3JF
Ian Smith 01392 662 886ismith@batesnvh.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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