Part-let, mid-terrace, mixed-use property
Accommodation extending to approximately 105.0 sq m (1,130 sq ft) overall
Ground floor providing retail accommodation
One-bedroomed maisonette on upper floors
Established and popular location
The town of Grimsby forms part of the larger Grimsby and Cleethorpes conurbation, with a population of approximately 88,250. The property is located on the eastern side of Freeman Street, forming part of a well-established mixed commercial and high density residential area on the edge of Grimsby town centre.
The property comprises three-storey, mid-terraced, mixed-use premises, directly abutting Freeman Street. The ground floor provides retail accommodation with ancillary storage and staff facilities to the rear, benefitting from open-plan retailing accommodation and full-width display windows. The upper floors provide a self-contained, two-storey maisonette, accessed from the rear and comprising a lounge, kitchen, single bedroom and bathroom.
The purchaser will benefit from an element of existing income generation, as the upper floors are currently let by way of a market-standard Assured Shorthold Tenancy (AST), which is now in a periodic state, at a passing rent of £3,420 per annum (£285 per calendar month).”
37.0 sq m
(398 sq ft)
19.0 sq m
(205 sq ft)
33.7 sq m
(362 sq ft)
15.3 sq m
(165 sq ft)
The premises are offered For Sale at a guide price of £45,000. The premises are held by way of two long-leasehold agreements, both of which are for 125 year terms, commencing in August 1996 at a combined ground rent of £380 per annum. The retail lease contains rent reviews every 30 years (next due in August 2026) and the flat contains a single predetermined rent increase to £100 per annum in August 2061
The new occupier will be responsible for the payment of Business Rates at the property. The premises are listed within the Rating List as ‘Shop & Premises with a Rateable Value of £3,050 (Source: VOA website), although the premises will require reassessment 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.
The new occupier will be responsible for the payment of Council Tax at the property. The premises have a council tax band rating of A.
ENERGY PERFORMANCE RATING: Ground Floor: To be confirmed / Upper Floors: E (50)
173 Freeman Street
173 Freeman Street
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