Market Place, Spalding, Lincolnshire, PE11

TOWN CENTRE RETAIL INVESTMENT FOR SALE - Four storey retail premises let to Trusted Package Company Limited at a passing rent of £15,000 Per Annum Exclusive (rental amount after 1st year) until 18th January 2034.

LOCATION

The Property is located in a prominent town centre location with frontage on to the Market Place. Spalding is a market town on the River Welland in the South Holland district of Lincolnshire. The town had a population of 34,113 at the 2017 census. The town is the administrative centre of the South Holland District. The town is located between the cities of Peterborough and Lincoln, as well as the towns of Bourne, March, Boston, Wisbech, Holbeach and Sleaford.

ACCOMMODATION

The Property benefits from a ground floor retail area with glazed frontage onto Spalding Market Place with then a retail, storage and staff facilities over. A floor plan is attached for ease of reference.

SERVICES

Mains services are connected to the Property. The services and service connections have not been tested by the acting agents and we recommend any interest party satisfied themselves in this regard.

TENURE

The freehold is for sale by private treaty subject to the existing tenancy agreement outlined under 'Tenancies'.

TENANCIES

The Property is subject to a single tenancy agreement made between the Landlord and Trusted Package Company Limited at a passing rent of £15,000 Per Annum Exclusive (£7,500 Per Annum Exclsuive for the 1st year) for a term ending 18th January 2034 with a Tenant only break option and Rent Review at the fifth year anniversary. There is a Tenant incentive not to exercise the Break Option with 12 months at 50% rent thereafter. A copy of the full lease can be provided to any interested party.

BUSINESS RATES

The Property has a rateable value of £10,250 under Local Authority reference: 70525468.

VAT

We understand that VAT is not chargeable on the sale price.

LEGAL COSTS

Each party is responsible for their own costs incurred throughout the transaction.

LOCAL AUTHORITY

South Holland District Council.

VIEWINGS

Viewings are strictly by appointment via the acting agents.