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Retail Property (high street) for sale

20/20a Brook Street & 22 Swinegate, Grantham, Lincolnshire

Removed 2,852 sq. ft. | £260,000

Property Description

Commercial information

  • 2,852 sq ft (264 sq m)

Full description

Tenure: Freehold

LOCATION
Grantham is an established and expanding market town in South Lincolnshire being approximately 23 miles east of the city of Nottingham and 25 miles south of the city of Lincoln. The town has a residential population of approximately 38,000 people with a large and expanding catchment area. The A1 runs immediately to the west of the town providing excellent road communications and the town also benefits from a main line rail connection to London Kings Cross with a journey time of approximately 75 minutes. Grantham has recently been awarded Growth Point Status and is set to grow dramatically both residentially and commercially in coming years.

Swinegate and Brook Street are situated in a mixed commercial and residential location on the edge of the town centre and the subject property is situated adjacent to The Kings School.

DESCRIPTION
The premises comprise an extensive three storey corner property which at ground floor level comprises a consented A5 Hot Food Takeaway premises with extensive ancillary accommodation in addition to a further self-contained Retail unit, the upper floors, in our opinion, are suitable for conversion to several self-contained Residential Apartments, subject to the relevant planning permission being obtained. We are informed that the property is not a Listed Building however is situated within the established Town Centre Conservation Area.

ACCOMMODATION
In terms of net internal area, the property comprises the following:

Floor Use Sq Ft Sq M
Ground (Former A5 Takeaway20 Brook Street) Shop 204 19
Ground Kitchen 100 9
Ground Preparation Room 133 12
Ground Store 369 34
Ground (Retail Unit 20A Brook Street) Shop 305 28
Ground Store 193 18
Ground (22 Swinegate) Reception Lobby
First Former Lounge 316 29
First Former Dining Rm 220 20
First Kitchen 81 7
First WC
First Former Bedroom 76 7
First Former Bedroom 105 10
Second Former Bedroom 152 14
Second Former Bedroom 203 19
Second Former Bedroom 117 11
Second Former Bedroom 174 16
Second Former Bedroom 104 10
Second Bathroom/WC
TOTAL 2,852 263

SERVICES
We understand that various elements of the property are connected to mains gas, electricity, water and drainage. We would advise prospective purchasers to clarify these issues with the relevant Statutory Authorities prior to entering into a commitment to acquire this property.

TERMS
Tenure
The property is to be sold on a freehold basis with vacant possession to be granted upon completion.

Offers in excess of £260,000 are sought for the freehold interest in these premises in their entirety with vacant possession to be granted upon completion. Our clients may give consideration to both conditional and unconditional offers made in respect of these premises, however, any conditional offers would need to include detailed redevelopment plans that the purchaser would have for the property together with a timescale for the submission and determination of any planning application to be submitted at the proposed purchaser´s expense.

OUTGOINGS
The ground floor Shops at No´s. 20 & 20a Brook Street are assessed under the 2010 Rating List as Shops & Premises with Rateable Values of £3,800 & £4,650 respectively. Further information in respect of this matter and Business Rates payable can be obtained from South Kesteven District Council. Tel: 01476 406080.

The upper floor residential accommodation at 22 Swinegate is assessed for Council Tax purposes as a Band D property and enquiries in respect of Council Tax payable in respect of this element of the property can also be obtained from South Kesteven District Council.


VAT
The asking price quoted herein is exclusive of, but may be liable to, VAT at the prevailing rate and prospective purchasers are advised to clarify this point prior to making an offer to acquire this property.

LEGAL COSTS
Each party is to bear their own legal and professional costs incurred in any transaction negotiated.



PLANNING
We understand that the Retail Premises at 20a & 20 Brook Street benefit from A1 Retail and A5 Hot Food Takeaway consents respectively given their historic uses. We would recommend that prospective purchasers/developers

clarify the current allowable uses in respect of the Ground Floor Retail Units and potential for the redevelopment of the upper floors via the Planning Department at South Kesteven District Council. Tel: 01476 406080. We are informed that the property is not a Listed Building, however, is situated within the established town centre Conservation Area.

OTHER
EPC Rating
Copies of the Energy Performance Graphs for the constituent parts of the subject property can be obtained from our Grantham office upon request, however, Energy Efficiency Ratings for the various parts of the property are as follows:

Former Takeaway Unit, 20 Brook Street - EPC Rating C75
Ground Floor Retail Unit, 20a Brook Street - EPC Rating E111
Residential Accommodation above 22 Swinegate - EPC Rating E51

VIEWING
Viewing & Further Information
For further information or an appointment to view this property please contact:
Brown & Co
Granta Hall
Finkin Street
Grantham, NG31 6QZ
Tel: 01476 514450 Fax: 01476 594242
Email: james.cameron@brown-co.com Contact: James Cameron


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