Retail Property (High Street) for sale in Sheep Market
LOCATION
** Central Town Investment - Mixed Use - Close to Hollands Market - On Street Car Parking Available Close By - Significant rental return - Convenient Lot Size - Based on Formal Leases - Sale as Investment - With the benefit of Full Planning Permission for conversion of the upper floors to residential **
The properties comprise adjacent/attached premises situate on the east side of Sheep Market close to the Town Centre of Spalding. The property lies close to the pedestrian routing to Holland Market with a large number of multiple operators including Sainsburys/Argos, Iceland, Halfords, Poundland, and Shoezone, Pets at Home and B & Q.
DESCRIPTION
The property comprises two retail units, with the hairdressing salon running over the first floor of both properties. A mobile phone shop currently operates from 2 Sheep Market, and a Hairdressing/Beauty Salon at 2a Sheep Market. The property includes the outside area to the left of the property, including a car park space. Both units have a side access.
ACCOMMODATION
2 Sheep Market, Spalding
Main Sales Shop - 6.19m x 8.33m (maximum)
Stock Room to rear - 6.88m (maximum) x 4.74m (average)
including office and WC
Details of Tenancy
The property is let on a ‘contracted out’ lease. The current passing rent is £9,500 per annum. The term is from 16th June 2023 expiring on the 15th June 2026. The landlord insures the property but the premium is reimbursed by the tenant. The tenant pays all Business rates and utility bills and can assign the lease with landlord’s consent. The tenant insures the external openings. The tenant is responsible for all repairs.
Services
Mains electricity, water and drainage are connected. There is no fixed heating in the property.
2a Sheep Market, Spalding All equipment in the property belongs to the Tenant.
Salon Reception: 5.27m x 3.56m. Store cupboards off.
Rear Store and Facilities Room: 3.16m x 4.20m.
First Floor Areas: 7.72m x 5.86m plus 5.41m x 3.55m plus 4.15m x 3.33m
plus 3.76m x 2.42m
Details of Tenancy
The lease is dated 22nd April 2016. The lease is ‘contracted out’. The current passing rent is £10,500 per annum and the lease term is for 11 years running to the 21st April 2027. Notice has been served by the tenant to effect their lease break at 22nd April 2025. The Tenant keeps the interior of the property in good and substantial repair and condition, subject to a schedule of condition. The landlord is responsible for the wooden base, and roof and flat roof. The tenant is responsible for reimbursing insurance and for plate glass insurance.
Services Mains electricity, water, gas and drainage are connected. A gas boiler serves the property.
Construction of the property is of brick, with part mineral felt flat roof and part pitched roof with interlocking concrete tiles. There is a parapet wall to the front of the property. Most windows are timber double glazed.
SERVICES
Services Mains electricity, water, gas and drainage are connected. A gas boiler serves the property.
PARKING NOTES
The property includes the parking space to the left of the units, and both units have a side access.
PLANNING
Full Planning Consent for a change of use of the upper parts of the property to a 2 bedroom flat with separate access, and with alterations to the ground floor part of No 2 to remain as a retail unit reference H16-0780-24 was granted subject to conditions, dated 6th November 2024.
The purchaser will be required to comply with all the Conditions of the granted Planning Consent and will be responsible for all costs in connection with doing so. Copies of the planning documents are available from the Agent’s Spalding Office or alternatively a copy can be downloaded from South Holland District Council’s website at www.sholland.gov.uk.
OTHER
It should be specifically noted that while the Freehold is for sale as an investment, the businesses are ongoing and are not affected.
COPIES OF LEASES
Subject to signing a Confidentiality Agreement, a copy of the leases are available for inspection at R Longstaff & Co LLP Spalding Offices by prior appointment or by email.
All measurements and areas provided are for guidance only and may not necessarily be relied upon. Interested Parties are encouraged to carry out their own surveys.
LOCAL AUTHORITIES
South Holland District Council
Priory Road, Spalding, Lincs. PE11 2XE
CALL: 01775 761161
Anglian Water Customer Services
PO Box 10642, Harlow, Essex, CM20 9HA
CALL: 08457 919155
Lincolnshire County Council
County Offices, Newland, Lincoln LN1 1YL
CALL: 01522 552222
Ref: S11572
These particulars are issued subject to the property described not being sold, let, withdrawn, or otherwise disposed of. These particulars are believed to be correct but their accuracy cannot be guaranteed and they do not constitute an offer or a contract.
ADDRESS
R. Longstaff & Co LLP., 5 New Road, Spalding, Lincolnshire, PE11 1BS.
Call: 01775 765536 Email: commercial@longstaff.com
www.longstaff.com
VIEWING
Strictly by appointment with the Vendors selling agents, R Longstaff & Co LLP Call: 01775 765536
Important information
This is not a Shared Ownership Property
Property Ref: 58325_101505015520
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