3 - 5 Alexandra Road, DN31 1RD

3 - 5 Alexandra Road

Grimsby, DN31 1RD


Price   £125,000


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3 - 5 Alexandra Road

Grimsby

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  • Description

    The building comprises two former mid-terraced houses, which have been converted to provide ground floor retail accommodation with ancillary facilities to the rear and a separately accessed suite on the first floor. The property additionally incorporates a two storey warehouse to the rear, with both elements enjoying access to their respective floors. The premises further benefit from an enclosed yard area to the rear which can provide parking for up to 4 vehicles.

    The upper floors, which are in need of full refurbishment, could be suitable for conversion to residential flats subject to appropriate planning consents. Any party interested in doing so should make contact with North East Lincolnshire Council’s Planning Department for further information.

  • Overview

    Part-let premises comprising ground floor retail with vacant office suite on first floor

    Accommodation extending to approximately 261.2 sq m (2,824 sq ft) overall

    Currently generating an income of £10,500 p.a. rising to £11,000 p.a. in November 2018

    Potential residential conversion of upper floors (subject to appropriate planning consents)

    Direct proximity to the Freshney Place shopping centre

  • Location

    The town of Grimsby is located within North East Lincolnshire and has a population of approximately 88,250 (Source: Census 2011). The property is located on the western side of Alexandra Road, which is the primary route between the town centre and West Marsh Industrial Estate, adjacent to the junction with Frederick Ward Way, which comprises the town centre ring-road.

     

    The property is additionally well situated to benefit from direct proximity to the Freshney Place shopping centre, in addition to a multi-million pound landmark mixed use leisure development, due to be completed in the near future. The scheme will comprise a nine screen cinema complex with up to seven national restauranteurs and act as a catalyst for further development within Grimsby town centre.

  • Accommodation

    Ground floor

     

     

    Retail

    94.5 sq m (1,017 sq ft)

    Office

    4.5 sq m  (62 sq ft)

    Storage 

    43.7 sq m (470 sq ft)
     

     

     

    First floor 

     

     

    Office/storage 

    118.5 sq m (1,275 sq ft)
       

     

    Total

    261.2 sq m (2,824 sq ft)
  • Disposal Terms

    The entire property is available For Sale at a guide price of £125,000 subject to the active lease.

    The ground floor was let by way of a 7 year lease in November 2015 with a rolling 6 month mutual break option from November 2018 at an initial rent of £10,500 per annum. The lease incorporates predetermined rental increases of £500 per annum on a 3 yearly basis, a copy of which will be made available to bona fide interested parties upon request.

  • Other Info

    RATEABLE VALUE
    The new occupier will be responsible for the payment of Business Rates at the property. The ground floor premises are listed within the Rating List as ‘Shop & Premises’ with a Rateable Value of £8,300 and the first floor premises are listed within the Rating List as ‘Offices & Premises’ with a Rateable Value of £6,300 (Source: VOA website), although reassessment will be required should a change of use take place. The new occupier may be eligible for Small Business Rates Relief but should make contact with North East Lincolnshire Council for confirmation.

    ENERGY PERFORMANCE RATING: F

Overview
Description
Accommodation
Terms
Other Info

Part-let premises comprising ground floor retail with vacant office suite on first floor

Accommodation extending to approximately 261.2 sq m (2,824 sq ft) overall

Currently generating an income of £10,500 p.a. rising to £11,000 p.a. in November 2018

Potential residential conversion of upper floors (subject to appropriate planning consents)

Direct proximity to the Freshney Place shopping centre

The building comprises two former mid-terraced houses, which have been converted to provide ground floor retail accommodation with ancillary facilities to the rear and a separately accessed suite on the first floor. The property additionally incorporates a two storey warehouse to the rear, with both elements enjoying access to their respective floors. The premises further benefit from an enclosed yard area to the rear which can provide parking for up to 4 vehicles.

The upper floors, which are in need of full refurbishment, could be suitable for conversion to residential flats subject to appropriate planning consents. Any party interested in doing so should make contact with North East Lincolnshire Council’s Planning Department for further information.

Ground floor

 

 

Retail

94.5 sq m (1,017 sq ft)

Office

4.5 sq m  (62 sq ft)

Storage 

43.7 sq m (470 sq ft)
 

 

 

First floor 

 

 

Office/storage 

118.5 sq m (1,275 sq ft)
   

 

Total

261.2 sq m (2,824 sq ft)

The entire property is available For Sale at a guide price of £125,000 subject to the active lease.

The ground floor was let by way of a 7 year lease in November 2015 with a rolling 6 month mutual break option from November 2018 at an initial rent of £10,500 per annum. The lease incorporates predetermined rental increases of £500 per annum on a 3 yearly basis, a copy of which will be made available to bona fide interested parties upon request.

RATEABLE VALUE
The new occupier will be responsible for the payment of Business Rates at the property. The ground floor premises are listed within the Rating List as ‘Shop & Premises’ with a Rateable Value of £8,300 and the first floor premises are listed within the Rating List as ‘Offices & Premises’ with a Rateable Value of £6,300 (Source: VOA website), although reassessment will be required should a change of use take place. The new occupier may be eligible for Small Business Rates Relief but should make contact with North East Lincolnshire Council for confirmation.

ENERGY PERFORMANCE RATING: F

3 - 5 Alexandra Road

Grimsby , DN31 1RD


The town of Grimsby is located within North East Lincolnshire and has a population of approximately 88,250 (Source: Census 2011). The property is located on the western side of Alexandra Road, which is the primary route between the town centre and West Marsh Industrial Estate, adjacent to the junction with Frederick Ward Way, which comprises the town centre ring-road.

 

The property is additionally well situated to benefit from direct proximity to the Freshney Place shopping centre, in addition to a multi-million pound landmark mixed use leisure development, due to be completed in the near future. The scheme will comprise a nine screen cinema complex with up to seven national restauranteurs and act as a catalyst for further development within Grimsby town centre.

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