Commercial Property for sale in Station Street
LOCATION
** Retail Investment Property - Ground Floor Retail Unit with First and Second Floor, let as a whole - Good Town Centre location – Close to car parks - Rear access to Chapel Lane **
The property is a terraced brick and slate building with timber windows and occupying a prominent location in Station Street.
Heron Foods, Spalding Market and other local independent retailers are also located along Station Street. The Victoria and Sheep Market car parks are nearby, and Spalding’s Market Place and main shopping areas are very close by.
DESCRIPTION
INVESTMENT DETAILS
The property is For Sale subject to a recently renewed lease to The Butterfly Hospice Trust, the details of which are as follows:
Term: 5 years from 18th February 2024. The lease is within the security provisions of the Landlord and Tenant Act 1954 Part 11.
Rent: £12,500 per annum, Plus VAT
Repairs Liability: Full Repairing and Insuring
Outgoings Business Rates: Tenants responsible for all
Break Clause: TBO at end of 3rd year of the term
Buildings Insurance: Tenant to repay premium to Landlord
Retail Area
Width 28’3” (8.62m) max – narrowing to 5.47m
Average Depth 26’8” (8.15m)
ACCOMMODATION
The property provides accommodation on the ground, first and second floors and has an Attic with the following approximate dimensions and areas:-
Ground Floor
Shop 8.62m x max 8.15m
Door off to rear stores/stairs
Store 1.41m x 1.73m
Lobby/Stairs
Door to outside yard
First Floor
Ladies WC WC and wash hand basin, Ideal Logic Gas Boiler
Gents WC WC and wash hand basin
Kitchen 1.91m x 2.15m with range of units
Front Office 3.43m x 3.31m
Front Store Room 3.44m x 2.82m
Staircase to
Attic 6.75m x 2.42m – rough storage – open rafters – limited headroom
Stairs to Second Floor
Front Room 2.87m x 3.44m
Front Room 3.46m x 3.06m
The property has an enclosed rear yard with access from Chapel Lane. There is a small outside store.
SERVICES
Mains water, gas, electricity and drainage. Heating is via a Gas Combi boiler to radiators.
OUTGOINGS
We understand from the Valuation Office Agency website that the property has a Rating Assessment of £9,400 with effect from 1 April 2023. Interested parties are advised to make their own enquiries as to eligibility for Business Rates relief by contacting South Holland District Council on 01775 761161.
VAT
VAT is applicable.
LEGAL COSTS
Each party will be responsible for their own legal costs.
PARKING NOTES
The Victoria and Sheep Market public car parks are nearby, and Spalding’s Market Place and main shopping areas are very close by.
PLANNING
The property is in the Spalding Conservation Area.
VIEWING
By appointment with Agents.
Important information
This is not a Shared Ownership Property
Property Ref: 58325_101505015182
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