Two, three storey mixed use premises on the periphery of the town centre
Commercial accommodation extending to approximately 168.9 sq m (1,818 sq ft) overall
Currently generating an income of £19,700 per annum
Comprising ground floor retail with office and residential accommodation above - Businesses unaffected
Guide Price £195,000 (Reflecting a gross yield of 8.75%)
The town of Grimsby is located within North East Lincolnshire and has a population of approximately 88,250 (Source: Census 2011). Within this context, the property is situated on the southern side of Victoria Street South, which adjoins the prime retailing pitch within the town centre approximately 0.1 miles to the west. Transport links to the property are good, with the central bus stops being located on Victoria Street/Town Hall Street, as well as a taxi rank directly outside.
Description
The property comprises two, three-storey, mixed-use commercial premises, the ground floor of both parts comprising retail accommodation with staff ancillary facilities to the rear accessed directly from Victoria Street. The upper floors provide either office accommodation (142a Victoria Street) or residential accommodation (144a Victoria Street) accessed via private entrances from Upper Burgess Street.
Nearby occupiers include LAW Amour, Staff Rite recruitment, Swinton Insurance and a variety of other local retailers, professional service providers or licenced premises.
Accommodation
| 142-142a Victoria Street | 142-142a Victoria Street | |||||
| Ground Floor (142) | Ground Floor (144) | |||||
| Retail | 48.3 sq m | (520 sq ft) | Retail | 46.9 sq m | (505 sq ft) | |
| Ancillary | 4.5 sq m | (48 sq ft) | Ancillary | 4.4 sq m | (47 sq ft) | |
| First Floor (142a) | First Floor (144a) | |||||
| Office/Studio | 37.9 sq m | (408 sq ft) | Residential | Unmeasured | ||
| Second Floor (142a) | Second Floor (144a) | |||||
| Office/Studio | 26.9 sq m | (290 sq ft) | Residential | Unmeasured |
Terms
The entire property is offered For Sale at a guide price of £195,000, subject to the leases, reflecting a gross yield of 8.75%.
| Property | Tenant | Lease Term | Expiring | Rent | Rateable Value / Council Tax | EPC |
| 142 Victoria Street | J Parr | 10 years | February 2023 | £6,000 pa | £4,750 | Awaiting Confirmation |
| 142a Victoria Street | A Szatandera | 5 years | June 2021 | £3,500 pa | £3,950 | G |
| 144 Victoria Street | K Roffee & Z Twinning | 5 years | July 2023 | £6,000 pa | £4,600 | Awaiting Confirmation |
| 144a Victoria Street | Individual | 6 months AST | May 2016 | £4,200 pa | A | E |
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