Well Located Grade II Listed Town Centre Freehold Retail Investment
Let to SENSE (a National Charity)- on new 10 year lease from June 2021
Fully Refurbished Shop-Approx. 462.16 sq m
(4,975 sq ft)
Prominent Town Centre location in Lincolnshire Market Town
Adjacent to Specsavers and close to the Pescod Square Shopping Centre with 400 car parking spaces
Nearby retailers include Next, WH Smith, Greggs, Wilko, Caffe Nero and Costa Coffee
Lot 25
Auction 13th December 2021
Rent £30,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
34 miles south-east of Lincoln
34 miles 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 trading position on the pedestrianised Wide Bargate where it meets Strait Bargate. Strait Bargate is the principal pedestriansed section of Boston town centre. Pescod Square Shopping Centre is immediately to the rear of the subject property and the entrance is adjacent to the property. Other retailers in the immediate vicinity include Specsavers, Waterstones, WH Smith and Oldrids Department Store. Pescod Square Shopping Centre is anchored by Wilkinson, Peacocks and various other multiple retailers such as Next, Superdrug and Costa Coffee. The property is also well positioned close to the main town centre car parks.
Every Wednesday and Saturday there is a market on Strait Bargate close to the property thereby driving additional footfall past the building.
Tenure
Freehold.
Location
Miles
34 miles south-east of Lincoln
34 miles 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 trading position on the pedestrianised Wide Bargate where it meets Strait Bargate. Strait Bargate is the principal pedestriansed section of Boston town centre. Pescod Square Shopping Centre is immediately to the rear of the subject property and the entrance is adjacent to the property. Other retailers in the immediate vicinity include Specsavers, Waterstones, WH Smith and Oldrids Department Store. Pescod Square Shopping Centre is anchored by Wilkinson, Peacocks and various other multiple retailers such as Next, Superdrug and Costa Coffee. The property is also well positioned close to the main town centre car parks.
Every Wednesday and Saturday there is a market on Strait Bargate close to the property thereby driving additional footfall past the building.
Tenure
Freehold.
Description
This Grade II listed property comprises a large ground floor shop with ancillary accommodation on the first floor. The property was thoroughly refurbished prior to the present tenancy commencing but the second floor is not currently used.
VAT
VAT is applicable to this lot.
Completion Period
6 week completion
EPC
See legal pack at www.acuitus.co.uk
Description
This Grade II listed property comprises a large ground floor shop with ancillary accommodation on the first floor. The property was thoroughly refurbished prior to the present tenancy commencing but the second floor is not currently used.
VAT
VAT is applicable to this lot.
Completion Period
6 week completion
EPC
See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First Second
Retail/Ancillary Ancillary Ancillary
336.94 sq m 125.22 sq m
(3,627 sq ft) (1,348 sq ft) Void
SENSE (2)
10 years from 7/06/2021 on a full repairing and insuring lease (1) (3)
£30,000
07/06/2026
Total
462.16 sq m
(4,975 sq ft)
£30,000
(1) The lease provides for a tenant option to determine on 7th June 2026 (2) Sense, the National Deaf, Blind and Rubella Association founded 60 years ago with over 100 Sense Shops across England and Wales, has an annual turnover of more than £60 million.(Source: - www.sense.org.uk) (3) There is a waiver in respect of the repairing covenants of the upper floors, until such time as the tenant occupies this accommodation-please see lease.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
