Guide price
£360,000
(£33,445.09/sq. ft)
Retail premises for saleGrimsby Road, Cleethorpes DN35
1,453 sq. ft
About this property
Mixed-use investment opportunity in Cleethorpes
Three retail units and two self-contained flats
Fully occupied producing £34,000 per annum gross income
Potential for future rental growth
Prominent frontage on busy Grimsby Road
Main arterial route linking Grimsby and Cleethorpes
Popular mixed retail and residential location
Rear car parking allocated to occupiers
Offered for sale subject to existing tenancies
Location
Grimsby Road forms one of the principal arterial routes linking the neighbouring towns of Grimsby and Cleethorpes and provides direct access to the A180 and wider motorway network. The property occupies a prominent roadside position close to the junction with Poplar Road and Isaacs Hill, approximately ¼ mile north west of Cleethorpes town centre and around 2 miles east of Grimsby town centre.
The surrounding locality comprises a well-established mixed-use area with a variety of retail, leisure and residential occupiers together with strong levels of passing vehicular traffic and good public transport connections. Cleethorpes remains a popular coastal town within North East Lincolnshire benefiting from a strong local catchment population and year-round visitor trade.
Description
The property comprises a substantial mixed-use investment arranged as a terrace of three ground floor retail units fronting directly onto Grimsby Road together with two self-contained residential flats situated at first floor level.
The commercial units are occupied by established local businesses including a convenience store/off licence, beauty business and fish and chip takeaway. The residential accommodation comprises two self-contained flats accessed independently from the rear.
Externally, the property benefits from a rear car parking area providing allocated parking spaces for occupiers. The investment is fully occupied and currently produces a gross rental income of £34,000 per annum with scope for future rental growth.
The property comprises three ground floor retail units together with two self-contained residential flats. 487-489 Grimsby Road, occupied by Clee Off Licence & Convenience Store, currently produces a rent of £6,000 per annum with the lease expiring in April 2027. 491 Grimsby Road, occupied by Naughty But Nice, produces £3,600 per annum with the lease expiring in May 2031. 493 Grimsby Road, occupied by Clee Fisheries, produces £11,500 per annum with the lease expiring in September 2029. Flat 1 is let on an Assured Shorthold Tenancy producing £5,400 per annum, whilst Flat 2 is also let on an Assured Shorthold Tenancy producing £5,100 per annum. The total current gross rental income is £34,000 per annum.
Disposal terms
The property is offered for sale subject to the existing occupational tenancies at a guide price of £360,000.
Rateable values / council tax
Each occupier is responsible for the payment of their own business rates or council tax liabilities associated with their occupation. Interested parties are advised to make their own enquiries with the Local Authority.
Rateable values/council tax
Each occupier is responsible for the payment of their own business rates or council tax liabilities associated with their occupation. The retail accommodation known as 487-489 Grimsby Road and 491 Grimsby Road are separately assessed for business rates purposes. Flat 1 and Flat 2 are both assessed within Council Tax Band A. Interested parties are advised to make their own enquiries with North East Lincolnshire Council regarding the current rateable values and any applicable reliefs.
Legal costs
Each party will be responsible for their own legal costs incurred in connection with the transaction together with any Stamp Duty Land Tax that may be payable.
Energy performance certificates
487-489 Grimsby Road, occupied by Clee Off Licence & Convenience Store, has an Energy Performance Rating of D. 491 Grimsby Road, occupied by Naughty But Nice, has an EPC rating of C. Flat 1 has an EPC Rating of D and Flat 2 also has an EPC Rating of D.
Further information and viewings
For further information or to arrange a viewing please contact:
Lawrence Brown or Jordan Clarke
Grimsby Road forms one of the principal arterial routes linking the neighbouring towns of Grimsby and Cleethorpes and provides direct access to the A180 and wider motorway network. The property occupies a prominent roadside position close to the junction with Poplar Road and Isaacs Hill, approximately ¼ mile north west of Cleethorpes town centre and around 2 miles east of Grimsby town centre.
The surrounding locality comprises a well-established mixed-use area with a variety of retail, leisure and residential occupiers together with strong levels of passing vehicular traffic and good public transport connections. Cleethorpes remains a popular coastal town within North East Lincolnshire benefiting from a strong local catchment population and year-round visitor trade.
Description
The property comprises a substantial mixed-use investment arranged as a terrace of three ground floor retail units fronting directly onto Grimsby Road together with two self-contained residential flats situated at first floor level.
The commercial units are occupied by established local businesses including a convenience store/off licence, beauty business and fish and chip takeaway. The residential accommodation comprises two self-contained flats accessed independently from the rear.
Externally, the property benefits from a rear car parking area providing allocated parking spaces for occupiers. The investment is fully occupied and currently produces a gross rental income of £34,000 per annum with scope for future rental growth.
The property comprises three ground floor retail units together with two self-contained residential flats. 487-489 Grimsby Road, occupied by Clee Off Licence & Convenience Store, currently produces a rent of £6,000 per annum with the lease expiring in April 2027. 491 Grimsby Road, occupied by Naughty But Nice, produces £3,600 per annum with the lease expiring in May 2031. 493 Grimsby Road, occupied by Clee Fisheries, produces £11,500 per annum with the lease expiring in September 2029. Flat 1 is let on an Assured Shorthold Tenancy producing £5,400 per annum, whilst Flat 2 is also let on an Assured Shorthold Tenancy producing £5,100 per annum. The total current gross rental income is £34,000 per annum.
Disposal terms
The property is offered for sale subject to the existing occupational tenancies at a guide price of £360,000.
Rateable values / council tax
Each occupier is responsible for the payment of their own business rates or council tax liabilities associated with their occupation. Interested parties are advised to make their own enquiries with the Local Authority.
Rateable values/council tax
Each occupier is responsible for the payment of their own business rates or council tax liabilities associated with their occupation. The retail accommodation known as 487-489 Grimsby Road and 491 Grimsby Road are separately assessed for business rates purposes. Flat 1 and Flat 2 are both assessed within Council Tax Band A. Interested parties are advised to make their own enquiries with North East Lincolnshire Council regarding the current rateable values and any applicable reliefs.
Legal costs
Each party will be responsible for their own legal costs incurred in connection with the transaction together with any Stamp Duty Land Tax that may be payable.
Energy performance certificates
487-489 Grimsby Road, occupied by Clee Off Licence & Convenience Store, has an Energy Performance Rating of D. 491 Grimsby Road, occupied by Naughty But Nice, has an EPC rating of C. Flat 1 has an EPC Rating of D and Flat 2 also has an EPC Rating of D.
Further information and viewings
For further information or to arrange a viewing please contact:
Lawrence Brown or Jordan Clarke
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