Specsavers Opticians, 31 Victoria Street, Grimsby
Guide Price
£220,000
£43.19 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
5,094 sq ft
473 sq m
- SECTOR
Commercial property for sale
Key features
- High Yielding Retail Investment
- Retail Unit and Upper Parts
- Let to Specsavers on a Renewed Lease
- Five Year Lease Expiring 04.09.2030
- Tenant in Occupation for 15+ Years
- 5,094 sq ft (473.23 sq m)
- Prominent Corner Pitch
- High Footfall Pedestrianised Street
- Investment Let at £30,000 p.a. (13.6% GIY on Guide Price)
Description
The property comprises a high yielding retail investment opportunity let to Specsavers and occupying a prime corner pitch on a pedestrianised street.
Arranged as two ground floor retail units with associated upper parts, the ground floor retail unit at 31 Victoria Street and the Upper Parts are let to Specsavers Optical Superstores Limited, a long-standing occupier of 15+ years, on a recently renewed five year lease expiring 04.09.2030 and paying £30,000 per annum.
The ground floor retail unit at 33 Victoria Street is sold off on a long leasehold basis. This leasehold is also available and details can be found on the Savills Auctions website.
The property occupies a prominent corner pitch with a principal frontage to Victoria Street, forming part of the retail heart of Grimsby characterised by a number of national occupiers including Subway, Greggs, Savers and McDonalds. Freshney Place Shopping Centre lies to the rear of the property with the nearby Brewery Street forming the principal point of access.
The ground floor retail unit at 31 Victoria Street and the Upper Parts are let to Specsavers Optical Superstores Limited, a long-standing occupier of 15+ years, on a recently renewed five year lease expiring 04.09.2030 and paying £30,000 per annum.
The tenant recently renewed their lease displaying confidence in the location. The renewal includes a period of reduced rent until 05/09/2026 however the vendor will "top up" the rent to the full quoted rent for the duration of this concession.
The lease is on full repairing and insuring terms and includes a tenants break option in the third year.
Specsavers Optical Superstores Limited
-D&B Rating - 5A2
-Turnover (2024) - £3.74bn
-Pre-Tax Profit (2024) - £323.6m
The ground floor retail unit at 33 Victoria Street is sold off on a long leasehold basis. This leasehold is also available and details can be found on the Savills Auctions website.
Arranged as two ground floor retail units with associated upper parts, the ground floor retail unit at 31 Victoria Street and the Upper Parts are let to Specsavers Optical Superstores Limited, a long-standing occupier of 15+ years, on a recently renewed five year lease expiring 04.09.2030 and paying £30,000 per annum.
The ground floor retail unit at 33 Victoria Street is sold off on a long leasehold basis. This leasehold is also available and details can be found on the Savills Auctions website.
The property occupies a prominent corner pitch with a principal frontage to Victoria Street, forming part of the retail heart of Grimsby characterised by a number of national occupiers including Subway, Greggs, Savers and McDonalds. Freshney Place Shopping Centre lies to the rear of the property with the nearby Brewery Street forming the principal point of access.
The ground floor retail unit at 31 Victoria Street and the Upper Parts are let to Specsavers Optical Superstores Limited, a long-standing occupier of 15+ years, on a recently renewed five year lease expiring 04.09.2030 and paying £30,000 per annum.
The tenant recently renewed their lease displaying confidence in the location. The renewal includes a period of reduced rent until 05/09/2026 however the vendor will "top up" the rent to the full quoted rent for the duration of this concession.
The lease is on full repairing and insuring terms and includes a tenants break option in the third year.
Specsavers Optical Superstores Limited
-D&B Rating - 5A2
-Turnover (2024) - £3.74bn
-Pre-Tax Profit (2024) - £323.6m
The ground floor retail unit at 33 Victoria Street is sold off on a long leasehold basis. This leasehold is also available and details can be found on the Savills Auctions website.
Specsavers Opticians, 31 Victoria Street, Grimsby
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Grimsby Town Station0.1 miles
- Grimsby Docks Station0.7 miles
- New Clee Station1.3 miles
Notes
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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 Savills, Savills Auctions- Commercial on 020 3834 8097.
*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.
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