5-7 Wide Bargate
Boston
Lincolnshire
PE21 6QY

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
    13/Dec/2021
  • Rent
    £30,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £400,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 5-7 Wide Bargate, Boston, Lincolnshire, PE21 6QY
  • Expand
  • Photos
  • Map

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

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
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)
£30,00007/06/2026
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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    02.12.21
    File Size
    20 MB
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  • Catalogue Page
    Updated Date
    23.11.21
    File Size
    571 KB
    View PDF
  • Site Plan
    Updated Date
    23.11.21
    File Size
    883 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
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Druces LLP Salisbury House, London Wall
London
EC2M 5PS
Jamie Coulthard 0)20 7638 9271j.coulthard@druces.com

Useful Links

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