Commercial Property for sale

Algitha Road, Skegness, Lincolnshire, PE25

£360,000

Property Description

Full description

A FREEHOLD COMMERCIAL/ RESIDENTIAL INVESTMENT OPPORTUNITY
COMPRISING DAY NURSERY & 3 FLATS - FULLY LET
CURRENT GROSS RENTAL - 28380 p.a.
CENTRAL SKEGNESS POSITION
DOUBLE FRONTED DETACHED PROPERTY
EPC RATINGS D & E

LOCATION

Skegness as a UK holiday resort is unique in that it has the largest winter to summer population swing in the EU. Unlike many resorts, Skegness is attracting significant investment from both private, local and national companies.

Marks and Spencer Food, Aldi, Marstons and Trespass have recently opened in the town whilst Premier Inn currently have under construction a hotel and restaurant development.

Algitha Road runs just north of and parallel with the principal shopping street of Lumley Road, No's 13 and 15 being sited on the south side of the road between the junctions with Roman Bank and Lumley Avenue.

THE PROPERTY

This investment property comes to market as the long standing owners plan to retire.

The residential flats have been well maintained and rented out consistently over many years on shorthold assured tenancies. The commercial property is leased and has been a popular children's day nursery for over 15 years.

SCHEDULE OF ACCOMMODATION

A) COMMERICAL PROPERTY t/a 'SPINNING TOPS' CHILDRENS DAY NURSERY
-Utilising Ground Floor of No's 13 and 15 and briefly comprising
No 13 3 Rooms; Side Entrance, Cloakroom, Staff Toilets
No 15 Reception, Office, 4 Rooms, Toilet, Changing Room, Store
Outside Side Play Area to No 13 (west side)
Rear Toddler Play Area behind No 15
Basement below No 15 - Washroom/Utility, Kitchen, Store, Staff Room, Staff Toilets

B) RESIDENTIAL UNITS;
No 13 First Floor; 3 Bedroom, Kitchen, Living Room, Bathroom
No 15 First Floor; 1 Bedroom, Living Room, Kitchen, Bathroom
No 15a Split Level; First and Second Floors - 2 Bedrooms, Living Room, Kitchen

C) The off-road parking area to the front of the property and east side is within the lease of the day nursery

TENURE

The Freehold interest is being offered for sale subject to the leases and tenancies in place, as follows;

A) DAY NURSERY;
i) 13 ALGITHA ROAD - Lease for a term of 5 years, expiring 31st December 2021 at a current rental of 5,000 per annum.
ii) 15 ALGITHA ROAD - Lease for a term of 5 years, expiring 31st December 2021 at a current rental of 9,160 per annum.

Each of the above provides tenants covenants to repair the interior of the property including doors, windows and the car parking area, and pay 50% of the insurance premium upon the whole property.

B) RESIDENTIAL UNITS
Each let on shorthold tenancies as follows;
No 13 Rent 475.00 p.c.m.
No 15 Rent 285.00 p.c.m.
No 15a Rent 425.00 p.c.m.

Full information upon the leases and tenancies is held at the agent's Skegness office.

SERVICES
Mains electricity, water, gas and drainage services are connected to the property.

VIEWING
Strictly by prior appointment through the Skegness office.

DISCLAIMER Notice is hereby given that these particulars are set for the guidance of proposed purchasers, and although due care is taken in their preparation and they are believed to be correct, proposed purchasers must not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness. These particulars are issued on the understanding that all negotiations are carried through the Agents Turner Evans Stevens but they do not constitute an offer or contract.

No person employed by Turner Evans Stevens Limited has any authority to make or give any representation or warranty whatsoever in relation to this property.








More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Skegness (0.3 mi)
  • Havenhouse (3.4 mi)
  • Wainfleet (5.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Turner Evans Stevens, Skegness Commercial

32 Roman Bank, Roman Bank, Skegness, PE25 2SL

01754 484040 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

  • Skegness (0.3 mi)
  • Havenhouse (3.4 mi)
  • Wainfleet (5.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Turner Evans Stevens, Skegness Commercial

32 Roman Bank, Roman Bank, Skegness, PE25 2SL

01754 484040 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 SK008895. 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 Turner Evans Stevens, Skegness Commercial. 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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