73 Kingsway Boston Lincolnshire PE21 0AR

73 Kingsway
Boston
Lincolnshire
PE21 0AR

Freehold Care Home Investment

  • Let to Progress Housing Association Limited - a social housing provider registered with Homes England, which receives its funding from Local Authorities
  • Lease expires September 2026
  • Uncapped Annual RPI Rent Reviews
  • Located in a predominantly residential location approximately one mile south-east of Boston town centre
  • VAT-free Investment
  • Lot
    60
  • Auction
    11th July 2018
  • Rent
    £36,359 per Annum
  • Status
    Sold Prior
  • Price
     
  • Sector
    Medical/Healthcare
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Trustees
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Care Home Investment

  • Let to Progress Housing Association Limited - a social housing provider registered with Homes England, which receives its funding from Local Authorities
  • Lease expires September 2026
  • Uncapped Annual RPI Rent Reviews
  • Located in a predominantly residential location approximately one mile south-east of Boston town centre
  • VAT-free Investment
  • Lot 60
  • Auction 11th July 2018
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    Medical/Healthcare
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Trustees

Property Information

Location
Miles
1 miles south-east of Boston town centre, 34 miles south-east of Lincoln
Roads
A16, A52
Rail
Boston Railway Station
Air
East Midlands Airport
Situation

The property is situated in a predominantly residential area approximately one mile south-east of Boston town centre. The property benefits from a number of local amenities with regular buses into Boston town centre.

Tenure

Freehold.

Location
Miles
1 miles south-east of Boston town centre, 34 miles south-east of Lincoln
Roads
A16, A52
Rail
Boston Railway Station
Air
East Midlands Airport
Situation

The property is situated in a predominantly residential area approximately one mile south-east of Boston town centre. The property benefits from a number of local amenities with regular buses into Boston town centre.

Tenure

Freehold.

Description

The property comprises a detached care home arranged on the ground and first floors. The property benefits from a garden and outhouse to the rear and off-street car parking.

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 a detached care home arranged on the ground and first floors. The property benefits from a garden and outhouse to the rear and off-street car parking.

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 Accommodation Tenant Term Rent p.a.x. Reviews
Ground/First 7 rooms, conservatory,
kitchen, bathroom & WC
PROGRESS
HOUSING
ASSOCIATION
LIMITED (1)
20 years from
07/09/2006 until
06/09/2026 on a
full repairing and
insuring lease
£36,359.16 Uncapped RPI linked rent
reviews on 07/09/2018 and
annually thereafter
Total
    £36,359.16  

(1) Progress Housing Association Limited is a subsidiary of Progress Housing Group, one of the UK’s leading social housing providers, providing high quality housing solutions for individuals with a range of support needs. Progress Housing Association covers over 100 local authorities providing more than 3,100 units of accommodation. For the year to 2017, Progress Housing Group reported a turnover of £74.5 million and net assets of £238 million. (Source: www.progressgroup.org.uk - Report & Accounts - 11/06/2018).

NB: The Property is subject to an option to purchase in favour of Progress Care Housing Association Limited. The option can be exercised at any time during the term of the lease by Progress Care Housing Association Limited serving notice confirming that the property is and has been vacant for a period of more than three months. The option to purchase expires if it has not been exercised by 6th June 2026. The option to purchase would be the greater of OMV or £356,085.

Property Documents

  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    458 KB
    View PDF
  • Site Plan
    Updated Date
    28.10.19
    File Size
    449 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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Gateley Plc Park View House, 58 The Ropewalk
Nottingham
NG1 5DW
Kim Grundstrom 0115 983 8229kim.grundstrom@gateleylegal.com

Useful Links

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

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