Mixed-use investment opportunity
Two ground floor retail units
Self-contained one-bedroom first floor flat
Fully income-producing property
Situated within a popular local retail parade
Prominent main road position linking Scartho and Waltham
The property is located on Waltham Road in the Scartho area of Grimsby, providing a key link between the villages of Scartho and Waltham and benefiting from strong levels of passing traffic. The premises have frontage to Waltham Road with roadside parking available, along with a free public car park opposite. Nearby occupiers include a mix of local businesses and national retailers.
Description
The property comprises a mixed-use building providing ground floor retail accommodation with a one-bedroom flat above. The main retail unit is currently used as a barbershop and includes a retail sales area to the front with kitchen and ancillary accommodation to the rear. A further single-storey ground floor retail unit is located to the south within the same grounds and features a timber shopfront. The property is fully let and currently produces the following income:
Part of Property | Length of Lease | Passing Rent |
|---|---|---|
Ground Floor Retail Unit | Let until October 2027, subject to tenant break option on two months’ notice | £7,776 p.a. |
First Floor Flat | Assured Shorthold Tenancy holding over since 2023 | £4,680 p.a. |
Outbuilding | Let on a rolling basis | £4,200 p.a. |
GROSS PASSING RENT | £16,656 p.a. |
Accommodation
Unit | Description | Area (sq m) | Area (sq ft) |
No.21 - Ground Floor Retail | Retail Sales Area Barbershop | 33.2 | 357 |
Ancillary accommodation | 20.0 | 215 | |
Total Ground Floor Retail | 53.2 | 572 | |
No.21a - First Floor Flat | One-bedroom flat | 56.0 | 603 |
Total First Floor Flat | 56.0 | 603 |
Terms
The freehold of the property, subject to the current occupation, is offered for sale at a guide price of £219,000.
Rateable Value
The premises are currently listed within the 2023 Rating List as ‘Shops and Premises’ with a Rateable Value of £9,600 (source: VOA website). The property will require reassessment should a change of use take place or should the premises be converted into flats. As of April 2026, the Rateable Value will reduce to £8,400.
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