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Retail Property (high street) for sale

High Street, Wainfleet, Skegness, Lincolnshire

Guide Price £57,500
556 sq. ft.

Property Description

Commercial information

  • 556 sq ft (51 sq m)
  • Use class orders: A1 Shops

Full description

Retail investment opportunity - 556 sq ft NIA - Let upon an IRI lease for a term of 10 years from 5 December 2016 - Rent passing £5,040 per annum - Rent increases to £5,460 per annum from 5 December 2021

Location - Wainfleet All Saints is an ancient port and market town on the east coast of the East Lindsey district of Lincolnshire located
approximately 5 miles south west of Skegness and 14 miles north east of Boston.

The subject property is situated on the western side of the High Street (B1195) in the heart of the town centre opposite the main public car park. Wainfleet train station is situated approximately 200 metres to the south. Nearby occupiers include Co-Operative and Post Office.

Description - The property comprises a ground floor double fronted lock up retail unit currently arranged as retail sales, office / stock room,
kitchen and WC.

We understand that parts of the property are Grade II Listed.

Accommodation - Measured on a net internal basis the property provides 556 sq ft (51.63 sq m) of accommodation.

Planning - The property has a long established use as a retail unit within Class A1 of the Town and Country Planning (Use Classes) Order
1987 (as amended). Interested parties should make their own enquiries to East Lindsey District Council on 01507 601111 with
regards to planning.

Rateable Value - According to the Valuation Office Agency the property is entered on the 2010 Rating List as shop and premises with a
rateable value of £2,243.

Tenure - Freehold subject to an existing internal repairing and insuring lease to Ms N Kaye for a term of 10 years from 5 December
2016 at a passing rent of £5,040 per annum exclusive. The lease provides for the rent to be increased to £5,460 from 5 December 2021.

Guide Price - £57,500. Offers are invited for consideration

Vat - We understand that VAT will not be applicable to the sale price.

Legal Costs - Each party is to be responsible for their own legal costs.

Agent - For further information or to arrange a viewing please contact sole agents JHWalter:

Andrew France BSc (Hons) MRICS
01522 504319 / 07795 657792

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