Offers in region of
£145,000
(£90.68/sq. ft)
Property for sale42-43 Swinegate, Grantham NG31
1,599 sq. ft
Freehold
About this property
Investment Sale
Retail Premises
NIA - 148.61 sq m (1,599 sq ft)
Close To Town Centre
High Specification
Prominent Glazed Frontage
Giy - 7.24%
Producing £10,500 Per Annum
This well presented ground floor retail unit is of traditional brick construction and offers extensive retail accommodation arranged over two floors.
The ground floor provides a spacious sales area with a variety of ancillary rooms suitable for retail, office, storage and staff use, along with kitchen and two W.C.'s.
The basement offers additional sales / storage space with a separate office. The property is accessed via a dedicated entrance lobby and benefits from a prominent glazed frontage, LED lighting and has been refurbished to a high standard throughout.
Location
The property is located along Swinegate on a prominent corner position within a short walk to Grantham town centre. The wider area is of mixed use, comprising a variety of residential, shops, café's, restaurants and professional services. The property benefits from excellent transport links with the A52, A1 and Grantham Railway Station close by.
Grantham is a vibrant market town in Lincolnshire which is located approximately 24 miles east of Nottingham, 34 miles north of Peterborough and 32 miles south of Lincoln.
Description
This well presented Grade II Listed ground floor retail unit is of traditional brick construction and offers extensive retail accommodation arranged over two floors.
The ground floor provides a spacious sales area with a variety of ancillary rooms suitable for retail, office, storage and staff use, along with kitchen and two W.C.'s.
The basement offers additional sales / storage space with a separate office. The property is accessed via a dedicated entrance lobby and benefits from a prominent glazed frontage, LED lighting and has been refurbished to a high standard throughout.
Tenancy Information
There is currently a 5 year lease in place that expires on the 31st December 2026 at a passing rent of £10,500 per annum. Please note that the current tenant has agreed a new lease / lease extension for a further 5 year term at a passing rent of £11,500 per annum.
Please contact the agent for further information and a copy of the lease.
Accommodation
We have calculated the approximate net internal floor areas to be as follows;
Ground Floor - 117.57 sq m (1,265 sq ft)
Basement - 31.04 sq m (334 sq ft)
Total NIA - 148.61 sq m (1,599 sq ft)
Services
We understand that mains gas, electricity, water and drainage are connected. None of the heating systems or any other plant and equipment have been tested by Commercial List and prospective lessees must rely on their own investigations as to their existence and condition.
Business Rates
From enquiries made through the Valuation Office website, we understand that the following rating assessment applies;
Rateable value: Tbc
The property should be eligible for small business rates relief. However, interested parties should make their own enquiries as to the amount of rates payable.
Terms
The property is for sale freehold, subject to the current tenancy in place. We are inviting offers in the region of £145,000.
Please note that the property benefits from the freehold of the two flats above, which have been sold separately.
Epc
Energy rating - E
Vat
We understand that VAT is not payable on the sale price.
Legal Costs
Each party to pay their own legal costs incurred.
Viewing
For an appointment to view or further information please contact;
Commercial List
e: T:
Agent Notes
These Particulars are believed to be correct, but their accuracy cannot be guaranteed, and they do not constitute an offer or a contract.
The ground floor provides a spacious sales area with a variety of ancillary rooms suitable for retail, office, storage and staff use, along with kitchen and two W.C.'s.
The basement offers additional sales / storage space with a separate office. The property is accessed via a dedicated entrance lobby and benefits from a prominent glazed frontage, LED lighting and has been refurbished to a high standard throughout.
Location
The property is located along Swinegate on a prominent corner position within a short walk to Grantham town centre. The wider area is of mixed use, comprising a variety of residential, shops, café's, restaurants and professional services. The property benefits from excellent transport links with the A52, A1 and Grantham Railway Station close by.
Grantham is a vibrant market town in Lincolnshire which is located approximately 24 miles east of Nottingham, 34 miles north of Peterborough and 32 miles south of Lincoln.
Description
This well presented Grade II Listed ground floor retail unit is of traditional brick construction and offers extensive retail accommodation arranged over two floors.
The ground floor provides a spacious sales area with a variety of ancillary rooms suitable for retail, office, storage and staff use, along with kitchen and two W.C.'s.
The basement offers additional sales / storage space with a separate office. The property is accessed via a dedicated entrance lobby and benefits from a prominent glazed frontage, LED lighting and has been refurbished to a high standard throughout.
Tenancy Information
There is currently a 5 year lease in place that expires on the 31st December 2026 at a passing rent of £10,500 per annum. Please note that the current tenant has agreed a new lease / lease extension for a further 5 year term at a passing rent of £11,500 per annum.
Please contact the agent for further information and a copy of the lease.
Accommodation
We have calculated the approximate net internal floor areas to be as follows;
Ground Floor - 117.57 sq m (1,265 sq ft)
Basement - 31.04 sq m (334 sq ft)
Total NIA - 148.61 sq m (1,599 sq ft)
Services
We understand that mains gas, electricity, water and drainage are connected. None of the heating systems or any other plant and equipment have been tested by Commercial List and prospective lessees must rely on their own investigations as to their existence and condition.
Business Rates
From enquiries made through the Valuation Office website, we understand that the following rating assessment applies;
Rateable value: Tbc
The property should be eligible for small business rates relief. However, interested parties should make their own enquiries as to the amount of rates payable.
Terms
The property is for sale freehold, subject to the current tenancy in place. We are inviting offers in the region of £145,000.
Please note that the property benefits from the freehold of the two flats above, which have been sold separately.
Epc
Energy rating - E
Vat
We understand that VAT is not payable on the sale price.
Legal Costs
Each party to pay their own legal costs incurred.
Viewing
For an appointment to view or further information please contact;
Commercial List
e: T:
Agent Notes
These Particulars are believed to be correct, but their accuracy cannot be guaranteed, and they do not constitute an offer or a contract.
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