68 - 74 Eastgate Louth Lincolnshire LN11 9PG

  • 68 - 74 Eastgate<br>Louth<br>Lincolnshire<br>LN11 9PG

68 - 74 Eastgate
Louth
Lincolnshire
LN11 9PG

Freehold Retail Investment

  • Entirely let to Mackays Stores Limited
  • Tenant in occupation since 1998
  • Located in an attractive & popular market town
  • 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
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Receivers CBRE
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Freehold Retail Investment

  • Entirely let to Mackays Stores Limited
  • Tenant in occupation since 1998
  • Located in an attractive & popular market town
  • 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.

Contacts

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King street
Leeds
LS1 2HL
Mark Byrne 0113 283 2500mark.byrne@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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