84 / 88 Lumley Road
Skegness
Lincolnshire
PE25 3NG

Freehold Retail Investment

  • Let to Yours Clothing Limited
  • 20 year lease expiring June 2026 (subject to option)
  • Double fronted shop close to The Hildreds Shopping Centre
  • Nearby occupiers include Boots the Chemist, Poundland, Greggs, Edinburgh Woollen Mill and Specsavers
  • Lot
    17
  • Auction
    23/May/2019
  • Rent
    £70,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • 84 / 88 Lumley Road<br>Skegness<br>Lincolnshire<br>PE25 3NG
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* More information on the term "price" can be found here

Property Information

Location
Miles
22 miles east of Boston
37 miles east of Lincoln
Roads
A16, A52, A168, M1 (Junctions 27, 28)
Rail
Skegness Railway Station
Air
Robin Hood Doncaster/Sheffield Airport
Norwich International Airport
Situation

The property is situated on the south side of Lumley Road, the town's prime retail thoroughfare, a short walk from the entrance to the Hildreds Shopping Centre. Nearby occupiers include Boots the Chemist, Poundland, Greggs, Edinburgh Woollen Mill and Specsavers.

Tenure

Freehold.

Description

The property comprises a double fronted ground floor shop with ancillary accommodation on the first floor.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E. Please see legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
Ground
First
Retail/Ancillary
Ancillary
199.74 sq m
95.78 sq m
(2,150 sq ft)
(1,031 sq ft)
YOURS CLOTHING
LIMITED (1)
20 years from 24/06/2006 until
23/06/2026 (2) on a full repairing and insuring lease
£70,000
Total
295.52 sq m
(3,181 sq ft)
  £70,000

(1) Yours Clothing trades in the UK from over 140 stores, with additional retail operations in the Middle East, as well as a significant online retail business (Source: www.yoursclothing.co.uk 25/04/2019). For the year ending 28th January 2018, Yours Clothing Limited reported a turnover of £88,266,955, pre-tax profits of £6,568,482 and a total net worth of £9,531,646
(Source: Experian Group 29/04/2019).
(2) The lease provides for a tenant's option to determine on 23rd June 2021.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    804 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Druces LLP Salisbury House, London Wall
London
EC2M 5PS
Karen Chapman 0207 216 5591k.chapman@druces.com

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