21 Market Place Boston Lincolnshire PE21 6EH

21 Market Place
Boston
Lincolnshire
PE21 6EH

Freehold Retail Investment

  • Entirely let to William Hill Organization Limited on a new 20 year lease from 2016 (subject to option)
  • Prominent Town Centre location
  • Self-contained first floor with future residential conversion potential (subject to consents)
  • Full planning permission for a rear extension
  • Close to Marks & Spencer, Boots the Chemist, Holland & Barrett and Savers
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    28
  • Auction
    25th May 2017
  • Rent
    £27,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £382,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

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

Freehold Retail Investment

  • Entirely let to William Hill Organization Limited on a new 20 year lease from 2016 (subject to option)
  • Prominent Town Centre location
  • Self-contained first floor with future residential conversion potential (subject to consents)
  • Full planning permission for a rear extension
  • Close to Marks & Spencer, Boots the Chemist, Holland & Barrett and Savers
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 28
  • Auction 25th May 2017
  • Rent
  • Status Sold
  • Price £382,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
34 miles south-east of Lincoln, 34 mile north-east of Peterborough, 55 miles east of Nottingham
Roads
A16, A52
Rail
Boston Railway Station
Air
East Midlands Airport
Situation

The property is situated in a prominent corner position on the east side of Market Place, at its junction with Cornhill Lane in the heart of Boston town centre. Nearby occupiers include Marks & Spencer, Boots the Chemist, Holland & Barrett and NatWest, Halifax and Lloyds banks. Market Place provides car parking for approximately 120 cars and Boston Market is held twice a week.

Tenure

Freehold.

Location
Miles
34 miles south-east of Lincoln, 34 mile north-east of Peterborough, 55 miles east of Nottingham
Roads
A16, A52
Rail
Boston Railway Station
Air
East Midlands Airport
Situation

The property is situated in a prominent corner position on the east side of Market Place, at its junction with Cornhill Lane in the heart of Boston town centre. Nearby occupiers include Marks & Spencer, Boots the Chemist, Holland & Barrett and NatWest, Halifax and Lloyds banks. Market Place provides car parking for approximately 120 cars and Boston Market is held twice a week.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation and self-contained ancillary accommodation on the first and second floors accessed only via an external staircase at the rear. The property was newly built in the 1980s with concrete floors throughout, which may be beneficial to any residential conversion potential of the upper floors (subject to consents). The second floor is currently accessed via a hatch and a ladder. The property further benefits from a large rear yard with planning permission for a ground floor extension.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises ground floor retail accommodation and self-contained ancillary accommodation on the first and second floors accessed only via an external staircase at the rear. The property was newly built in the 1980s with concrete floors throughout, which may be beneficial to any residential conversion potential of the upper floors (subject to consents). The second floor is currently accessed via a hatch and a ladder. The property further benefits from a large rear yard with planning permission for a ground floor extension.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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 Reviews
Ground
First
Second

Retail
Ancillary
Ancillary
107.60 sq m
59.80 sq m
32.50 sq m
(1,158 sq ft)
(643 sq ft)
(350 sq ft)
WILLIAM HILL
ORGANIZATION
LIMITED (1)

20 years from
31/03/2016
until 30/03/2036 (2) on
a full repairing and
insuring lease (3)
£27,500
31/03/2021 and
5 yearly
Total  
199.90 sq m
(2,152 sq ft)
    £27,500
 

(1) William Hill are the UK’s largest land-based bookmaker with 2,375 licensed betting shops in the UK and employ more than 16,000 people in nine countries (Source: www.williamhillplc.com 05/04/2017). For the year ending 29th December 2015, William Hill Organization Limited reported a turnover of £873,900,000, pre-tax profits of £246,400,000 and a total net worth of negative -625,000,000 (Source: Experian Group 03/04/2017).
2) The lease provides for a tenant option to determine the lease on 30/03/2021 subject to one year’s rental penalty. The lease further provides for a tenant option to determine the lease on 30/03/2026 and 30/03/2031.
(3) Subject to clause 3.8(a) of the lease.

Property Documents

  • Site Plan
    Updated Date
    29.10.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    850 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
Associate Auctioneers
Poyntons 28 South Street
Boston
Lincolnshire
PE21 6HT
01205 761602
James Fairman 01205 361694james@poyntons.com
Seller's Solicitors
Roythornes LLP Enterprise Way, Pinchbeck
Spalding
Lincolnshire
PE11 3YR
Alice Lees 01775 842 588alicelees@roythornes.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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