Exchange Buildings 36/39 Market Place Boston Lincolnshire PE21 6NH

  • Exchange Buildings<br>36/39 Market Place<br>Boston<br>Lincolnshire<br>PE21 6NH

Exchange Buildings
36/39 Market Place
Boston
Lincolnshire
PE21 6NH

Substantial Freehold Retail and Residential Parade Investment

  • Substantial parade comprising four shops and eight residential flats
  • Shops let to a barber, a bakery, a nail salon plus one vacant shop
  • Shop leases expire in 2027 & 2028
  • All flats let on AST's, all let to professional workers (4 x 1 bed & 2 x 2 beds)
  • Includes third floor part let on long lease, with opportunity to extend some of the existing flats into part vacant third floor
  • Grade II Listed Building
  • 200m from Boston Railway Station
  • Nearby retailers include Boots the Chemist, Superdrug, Holland & Barrett, Caffè Nero, KFC and Timpson
  • Lot
    17
  • Auction
    9th July 2024
  • Rent
    £95,705 per Annum Exclusive
    plus one vacant shop
  • Status
    Available
  • Guide*
    Contact Us
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

Substantial Freehold Retail and Residential Parade Investment

  • Substantial parade comprising four shops and eight residential flats
  • Shops let to a barber, a bakery, a nail salon plus one vacant shop
  • Shop leases expire in 2027 & 2028
  • All flats let on AST's, all let to professional workers (4 x 1 bed & 2 x 2 beds)
  • Includes third floor part let on long lease, with opportunity to extend some of the existing flats into part vacant third floor
  • Grade II Listed Building
  • 200m from Boston Railway Station
  • Nearby retailers include Boots the Chemist, Superdrug, Holland & Barrett, Caffè Nero, KFC and Timpson
  • Lot 17
  • Auction 9th July 2024
  • Rent £95,705 per Annum Exclusive plus one vacant shop
  • Status Available
  • Guide* Contact Us
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
34 miles south-east of Lincoln and 50 miles east of Nottingham
Roads
A16, A52, A1137
Rail
Boston Railway Station
Air
Humberside Airport
Situation

Boston is an historic Lincolnshire market town located 30 miles north-east of Peterborough and 50 miles east of Nottingham. The property is prominently situated in the heart of the town centre, on the south side of Market Place, at its junction with Town Bridge, close to Pescod Square Shopping Centre. Nearby retailers include Boots the Chemist, Superdrug, Holland & Barrett, Caffè Nero, KFC and Timpson.

Tenure

Freehold.

Location
Miles
34 miles south-east of Lincoln and 50 miles east of Nottingham
Roads
A16, A52, A1137
Rail
Boston Railway Station
Air
Humberside Airport
Situation

Boston is an historic Lincolnshire market town located 30 miles north-east of Peterborough and 50 miles east of Nottingham. The property is prominently situated in the heart of the town centre, on the south side of Market Place, at its junction with Town Bridge, close to Pescod Square Shopping Centre. Nearby retailers include Boots the Chemist, Superdrug, Holland & Barrett, Caffè Nero, KFC and Timpson.

Tenure

Freehold.

Description

The property comprises four shops arranged on the ground floor, with eight, separately-accessed residential flats (4 x 1 bed & 4 x 2 beds) arranged on the first and second floors and all let on AST's. The property also comprises a third floor, part let on a long lease with majority offered vacant.

VAT

VAT is applicable to this lot.

Completion Period

Eight Week Completion Available

EPC

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

Description

The property comprises four shops arranged on the ground floor, with eight, separately-accessed residential flats (4 x 1 bed & 4 x 2 beds) arranged on the first and second floors and all let on AST's. The property also comprises a third floor, part let on a long lease with majority offered vacant.

VAT

VAT is applicable to this lot.

Completion Period

Eight Week Completion Available

EPC

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

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m (1)
Floor Areas
(Approx sq ft) (1)
Tenant Term Rent p.a.x.
Ground
(36 Market Place)
Retail/Ancillary
74.66
(803)
VACANT -
-
Ground
(37 Market Place)
Retail/Ancillary
61.28
(659)
S. M. AZIZ
(t/a Top Fade Barber)
5 years from 20/02/2023
£10,950
Ground
(38 Market Place)
Retail/Ancillary
56.46
(607)
M. TSEVTANOVA & N. TONCHEVA
(t/a Lokoro Bakery)
5 years from 27/06/2022
£9,950
Ground
(39 Market Place)
Retail/Ancillary
67.99
(731)
T. S. TRAN & T. TRAN
(t/a HT Nails & Beauty)
10 years from 31/07/2017
£10,000
First
(Flat 1)
Residential - 2 bed, kitchen, bathroom
57.00
(613)
AN INDIVIDUAL AST from 18/02/2023 at £725 pcm
£8,700
First
(Flat 2)
Residential - 1 bed, kitchen, bathroom
50.00
(538)
AN INDIVIDUAL AST from 12/09/2023 at £625 pcm
£7,500
First
(Flat 3)
Residential - 1 bed, kitchen, bathroom
48.00
(516)
AN INDIVIDUAL AST from 07/06/2019 at £625 pcm
£7,500
First
(Flat 4)
Residential - 2 bed, kitchen, bathroom
58.00
(624)
AN INDIVIDUAL AST from 15/06/2022 at £725 pcm
£8,700
Second
(Flat 5)
Residential - 2 bed, kitchen, bathroom
57.00
(613)
AN INDIVIDUAL AST from 19/04/2024 at £725 pcm
£8,700
Second
(Flat 6)
Residential - 1 bed, kitchen, bathroom
50.00
(538)
AN INDIVIDUAL AST from 17/07/2019 at £625 pcm
£7,500
Second
(Flat 7)
Residential - 1 bed, kitchen, bathroom
48.00
(516)
AN INDIVIDUAL AST from 01/07/2023 at £625 pcm
£7,500
Second
(Flat 8)
Residential - 2 bed, kitchen, bathroom
64.00
(688)
AN INDIVIDUAL AST from 02/10/2023 at £725 pcm
£8,700
Third
(Part)
Ancillary
-
-
VACANT -
-
Third
(Part)
Offices
-
-
HOBB HOMES LTD 999 years from 17/08/1985
£5
Total  
692.39
(7,446)
   
£95,705

(1) Areas provided by VOA and the EPC register (www.gov.uk/find-business-rates)

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    04.07.24
    File Size
    60 MB
    Login to View
  • Brochure
    Updated Date
    09.07.24
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 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
Henry JohnHenry John +44 (0)20 7034 4860 +44 (0)7876 884 320henry.john@acuitus.co.uk
Seller's Solicitors
Mincoffs LLP Mincoffs Solicitors LLP, 5 Osborne Terrace
Newcastle upon Tyne
Tyne and Wear
NE2 1SQ
Leanne Kettlewell 0191 212 7723lkettlewell@mincoffs.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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