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Retail Property (high street) for sale

Victoria Street, Grimsby, Lincolnshire

Guide Price* £300,000

Property Description

Full description

For Sale by Auction November 29th 2017 (unless sold prior) - Three storey building - Four retail units to GF - Former nightclub to FF & SF - PP to convert to 9 flats - Buyers Fee £750

Description - A three storey building currently arranged as four lock-up retail units at ground floor level and a former night club at first and second floor levels. The property benefits from planning permission for conversion of the upper floors to nine flats. Three of the retail units are let with the fourth and the upper parts vacant to facilitate redevelopment.

Location - Grimsby is a large town and seaport located approximately 22 miles east of Scunthorpe, 29 miles north east of Lincoln and 31 miles north west of Skegness. The town had a population of 88,243 in 2011 (Census). It is physically linked to and forms a conurbation with the adjoining town of Cleethorpes. The Grimsby-Cleethorpes conurbation acts as the cultural, shopping and industrial centre for a large area of northern and eastern Lincolnshire.

Grimsby lies 15 miles from the nearest motorway, the M180 which continues as the A180 into the town and acts as a link to the national motorway network. The town is skirted by the A18, with the A46 passing through the town providing a connection towards Lincoln and the A16 linking the town to Louth and south and eastern Lincolnshire.

The subject property is prominently situated on the southern side Victoria Street at its junction with Pasture Street within Grimsby town centre. Victoria Street links with the A16 (Peaks Parkway) and the A1136 (Frederick Ward Way / Ellis Way) approximately 150 metres to the north west. Grimsby Town railway station is situated approximately 450 metres to the south west.

Planning - Planning permission for change of use of the upper floors from a club and associated areas to form nine residential units was granted by North East Lincolnshire Council (ref: DM/1122/16/FUL) on 23 January 2017. Further details are available upon request.

Services - We understand that the property is connected to mains gas, electricity, water and drainage. Interested parties are advised to make their own enquiries of relevant service providers.

Rateable Values (2017 List) - 128 Victoria Street (Hairdressing Salon) - £9,200
130 Victoria Street (Shop) - £7,700
2 Pasture Street (Shop) - £4,050
4 Pasture Street (Shop) - £5,400
Upper Floors (Public House) - £13,000

Tenure & Possession - Freehold subject to existing tenancies.

Tenancies - 128 Victoria Street - Let upon an effective full repairing and inursing lease for a term of 7 years from 28 July 2011 at a current rent of £7,000 per annum exclusive.

130 Victora Street - Let upon an effective full repairing and insuring lease for a term of 7 years from 18 May 2013 at a current rent of £5,500 per annum exclusive. The lease provides for rent reviews on 18 November 2017 and 18 May 2019 and a tenant only break clause on 18 May 2019.

2 Pasture Street - Vacant to facilitiate redevelopment of upper parts.

4 Pasture Street - Let upon an effective full repairing and insuring lease for a term of 7 years from 18 May 2013 at a current rent of £5,250 per annum exclusive. The lease provides for a rent review on 18 November 2018 and a tenant only break clause on 18 November 2018.
Upper Floors - Vacant to facilitate redevelopment.

Energy Performance Asset Ratings - 128 Victoria Street G185
130 Victoria Street G185
2 Pasture Street - D93
4 Pasture Street E105
Upper Floors E105

Vat - The guide price quoted in these particulars is exclusive of VAT. At the time of preparation of these particulars (October 2017) we understand that the vendor has not elected to charge VAT.

Viewing - Strictly by appointment with the Auctioneers. Tel: 01522 504360.

Completion Date - This lot will be sold with a 10% deposit and up to 8 weeks for completion.

Plans - The attached plans are for identification purposes only and do not constitute any part of contract. They are not to scale.

Auction Bidder Identity Check - Prior to bidding on any auction lots we are required to verify the identity of the bidder to comply with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017. Please contact us on 01522 504360 or auctions@ so that we can complete an electronic identity check and issue a buyer number. We are most grateful for your assistance and please bring your original identity documents on the night of the auction.

Solicitors - Jonathan Hyldon
Wilkin Chapman LLP
Cartergate House
26 Chantry Lane
DN31 2LJ

01472 253902

Agent - Andrew France 01522 504360.

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Disclaimer - Property reference 27359019. The information displayed about this property comprises a property advertisement. makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by The County Property Auction, Lincoln. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call The County Property Auction, Lincoln on 01522 504360.

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