Commercial Property for sale

Pen Street, Boston, PE21

£150,000

Property Description

Full description

A freehold property which offers self contained retail premises on the ground floor with a duplex apartment situated on the 1st and 2nd floors. The shop premises offers a 12m2 (129sft2) retail zone with a total area of 42m2 (452ft2). The Apartment offers a total internal floor area of 63m2 (678ft2). 

The freehold property is set within the town centre and is located close to Pescod Square shopping which offers several national stores including Waterstones and Thomas Cook travel agents. Also located nearby is a multi storey car park and Marks and Spencer.Within Pen Street itself is a range of smaller, locally owned retailers.

Combined the investment is currently obtaining an income of £9950 per annum (yield of 6.6%)




General Remarks 
This town centre investment offers retail premises to the ground floor with access from Bridge Street with a one bedroom duplex apartment above having separate access to the rear. The shop premises has a combined area of 42m2 (452ft2). The Apartment offer

Location 
The property is set within the town centre and is located on a busy route to and from Wide Bargate and close to Pescod Square shopping area and multi storey car park. A number of national retailers are located in Pescod Square while in Pen Street itself i

Investment 
The shop is currently let on a commercial lease at £5,200 per annum and the apartment let on an AST providing an income of £4,740 pa. A total of £9,940 pa income gives a total gross YIELD OF 6.6% based on the asking price of £150,000.

Energy Performance Certificate 
Apartment currently D63 potentially C74

Ground floor retail premises 
Entrance Lobby
Retail Area/reception 11'2 x 10 (3.40m x 3.05m)
Room 2/Treatment Room 11'3 x 9'5 (3.43m x 2.87m)
Changing Room 10'9 x 6'6 (3.28m x 1.98m)
Kitchen/Staff Room 8'7 x 7 (2.62m x 2.13m)
Shower Room/WC 10'9 x 6'6 (3.28m x 1.98m)

First floor duplex apartment 
Stairs & landing to 1st floor
Fitted Kitchen 10'7 x 7'8 (3.23m x 2.34m)
Lounge 14'4 x 7'8 (4.37m x 2.34m)
Stairs & landing to 2nd floor
Bathroom 10'7 x 9 (3.23m x 2.74m)
Double Bedroom 13'3 x 11 (4.04m x 3.35m)
Gas Central heating and secondary doub

Tenure 
The retail premises are currently let on a commercial lease until October 2018. The current rent is ?5,200 per annum exclusive.
The apartment is let on an Assured Shorthold Tenancy currently running as a statutory periodic tenancy at a rent of ?395 per c

Rateable Value 
Rateable value for the shop premises is £1200.

Agents Notes 
Please be aware that the owner of this dwelling is a relative of an employee of Hill & Clark

More information from this agent

Nearest stations

  • Boston (0.5 mi)
  • Hubberts Bridge (3.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hill & Clark, Boston Sales

Lancaster House Gilbert Drive, Wyberton Fen, Boston, PE21 7TQ

01205 626083 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Boston (0.5 mi)
  • Hubberts Bridge (3.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hill & Clark, Boston Sales

Lancaster House Gilbert Drive, Wyberton Fen, Boston, PE21 7TQ

01205 626083 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 6696303. The information displayed about this property comprises a property advertisement. Rightmove.co.uk 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 Hill & Clark, Boston Sales. 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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