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Commercial Property for sale

Victoria Street, Grimsby

Guide Price £1,000,000

Property Description

Key features

  • Listed building
  • Prime freehold retail investment
  • Blue chip tenant - Let to Barclays Bank Plc
  • Passing rent of 95,000 pa
  • Gross initial yield of 9.5% based on the guide price
  • FRI Lease from 1 May 2006 - April 2026
  • GF ITZA: 116.37 Sq. M (1,252 Sq. Ft)
  • Total NIA: 716.67 Sq. M (7,714 Sq. Ft)
  • 20 Working Day Completion

Full description

This imposing Grade II listed building is located in a prime corner position fronting Victoria Street South and Brewery Street which is an entrance for Freshney Place shopping centre. The property is occupied by Barclays Bank Plc who utilise the three storeys of accommodation within this period property. Having recently undergone a programme of refurbishment, it is in good condition and boasts period features in the ground floor customer area.

The property is entered at ground floor level having a predominantly open plan layout with a cashier’s desk, several cash dispensaries, three private offices and the strong room/safes. To the first floor there is a large board room, a further three private offices and a large customer area/ waiting room. The staff canteen, training room, two storage areas and server rooms can be found on the third floor. There are two separate stairwells and two lifts servicing the building.

Description Continued - Externally, the property features an attractive stucco façade with two inset cash dispensaries and two separate entry points with glazed automatic doors to the front and side elevations.

Accommodation - Ground Floor ITZA: 116 m2 / 1,252 ft2
Ground Floor: 276.70 m2 / 2,978 ft2
First Floor: 234.13 m2 / 2,520 ft2
Second Floor: 205.84 m2 / 2,215 ft2
Total Area: 716.67 m2 / 7,714 ft2
(Net internal floor area)

Tenure - Freehold, subject to occupational tenancy.

Services - We understand the property is connected to mains gas, electricity, water and drainage however we advise all interested parties to make their own enquiries.

Rateable Value - The premises have a current rateable value of £83,680 with the rate payable equating to approximately £40,082.72 (2017/2018).

Vat - The property is not elected for VAT.

Viewings - There will be two opportunities to the view the premises. Dates will be confirmed shortly.

Buyer's Premium - 2.4% (min. £3,500) inc. VAT

Sell Your Property - If you are thinking of selling your property, contact us now for a free appraisal and benefit from:

•0% Seller Fee
•£0 Entry Fee
•£0 Marketing Costs
•20 Working Day Completion
•Monthly auctions

More information from this agent

Map & Street View

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