Town Centre Office & Residential premises with garages & parking, part-income producing
The property comprises a semi-detached period building with offices and staff/WC facilities at ground floor level, self-contained three bedroom apartment at first floor and further offices/storerooms at second floor level. There is additional cellar storage.
The accommodation is generally finished with papered plastered walls and ceilings, carpeted floors, wall mounted gas central heating served radiators and uPVC double glazed windows.
Externally there is forecourt car parking together with further spaces and two garages to the rear.
EPC Rating : D81
LOCATION The property occupies a prominent position fronting Lumley Avenue at its junction with Prince George Street, a short distance from Lumley Road in Skegness Town Centre. The property is surrounded by a range of complementary commercial uses and residential abodes.
Skegness itself is a popular seaside resort with a resident population of 19,579 (2011 Census), rising considerably during the summer months with the influx of tourists and holiday makers. It is located approximately 40 miles east of Lincoln and 50 miles north-east of Peterborough.
TOWN AND COUNTRY PLANNING We are advised by the Local Planning Authority that the building has consent for use as part offices within Class B1 and part residential within C3 and with Town & Country Planning (Use Classes) Order 1987 (as amended).
We perceive that the building has potential for alternative use, subject to receipt of necessary planning consent.
Interested parties are advised to make their own investigations to the Local Planning Authority.
TENURE The property is available For Sale Freehold, subject to an Assured Shorthold Tenancy over the first floor apartment generating a gross income of £410 per calendar month.
VAT The property may be elected for VAT. It may be possible to treat the sale of this property as a TOGC.
Interested parties are advised to take independent advice from accountants.
LEGAL COSTS Each party is to be responsible for their own legal costs incurred in documenting the transaction.
VIEWING To view the premises and for any additional information please contact the joint sole agents.
Contact: Banks Long & Co Harry Hodgkinson T : 01522 544515 E : email@example.com
or Our Joint Agent TES Property T : 01754 484048
Town Centre Office & Residential Premises, Lumley Avenue, Skegness PE25 2AH
PRIME RETAIL INVESTMENT - Located in the thriving seaside resort of Skegness, the largest town on Lincolnshire’s East Coast, Let to Poundland Ltd until July 2022, current rental income £195,000 per annum exclusive,
A substantial and well configured retail premises laid out over 3 floors, with a full width glazed frontage onto Lumley Road and rear servicing. The ground floor is currently utilised as sales space, with ancillary accommodation over the first and second floors.
The property provides one of the few premises in the town centre that offers retailers large unrestricted floor plates.
Skegness is the largest town on the Lincolnshire East Coast and is a thriving tourist resort, attracting over 4.2 million visitors annually from all over the country. The town is situated about 19 miles north of Boston, 37 miles east of Lincoln and 64 miles east of Nottingham.
The town provides good access to both the A1 and M1, via the A52 and the railway station offers regular services to both Nottingham and Lincoln. The nearest regional airports are Humberside about 42 miles north and Norwich about 51 miles to the south.
TENURE The property is predominantly held freehold with a small section to the rear held long leasehold. The long leasehold interest is held for a term of 197 years from 21st December 1959 at a rent of £200 per annum.
TENANCY The whole property is let on a 10 year Full Repairing and Insuring lease to Poundland Ltd commencing on 23rd July 2012, expiring on 22nd July 2022.
The current rent is £195,000 per annum exclusive.
COVENANT INFORMATION Poundland Ltd (company number 02495645) is a British Variety Store Retailer founded in 1990, now trading from over 800 stores nationwide and employing over 10,000 staff.
VAT The property is elected for VAT. However, the sale will be treated as a TOGC and therefore VAT will not be payable on the purchase price.
PROPOSAL We are instructed to seek offers in excess of £2,100,000 (Two million one hundred thousand pounds) subject to contract and exclusive of VAT, for the freehold and long leasehold interests in the property.
A purchase at this level will reflect a yield of 8.74% allowing for standard acquisition costs.
For further information or to view the premises please contact the agents.
Prime Retail Investment, 66-63 Lumley Road, Skegness PE25 3LS
Brand New Trade Counter / Industrial Units on an Established Trade Estate • 460 sq m (4,951 sq ft) to 3,785 sq m (40,740 sq ft) • Adjacent to Travis Perkins, MKM Builders Merchants, PTS and Screwfix opening shortly • Immediately to the rear of Skegness Retail Park • Immediately available
Location: The development is located on the fringe of Skegness town centre, within the Wainfleet Road Industrial Estate. The estate is located immediately to the rear of Skegness Retail Park.
Other occupiers in the vicinity include Currys, Halfords, Pizza Hut, Carpet Right and Jewsons.
The development itself forms part of a trade business park already housing Travis Perkins Builders Merchants, MKM Builders Merchants and PTS.
Skegness is a thriving east coast holiday resort located on the A52 trunk road. The resident population is some 20,000 people with 136,000 living within the Skegness district area.
The town experiences a substantial annual influx of tourist visitors.
Description: The high quality trade counter / industrial units are steel portal frame with brick/block walls surmounted by corrugated sheet cladding and a similarly clad roof, with feature glazed entrance facades.
Internally the accommodation provides an open span industrial /trade counter area with additional office/WC/staff facilities available upon request.
Vehicular access is provided via a manually operated up and over door. Externally the units benefit from a shared central loading/circulation parking area.
Accommodation: We note from architects plans provided that the accommodation will provide the following gross internal floor areas:-
Unit 1 460 sq m (4,951 sq ft) - LET Unit 2 460 sq m (4,951 sq ft) - LET Unit 3 575 sq m (6,189 sq ft) - LET Unit 4 910 sq m (9,795 sq ft) - LET Unit 5 460 sq m (4,951 sq ft) Unit 6 460 sq m (4,951 sq ft) Unit 7 460 sq m (4,951 sq ft)
Total 3,785 sq m (40,740 sq ft)
Services: All mains services including gas, water, drainage, and electricity are to be made available and connected to the property.
Planning: The scheme has consent for trade counter use, although we believe that other uses will also be appropriate to include uses falling within B1 (Light Industrial) and B8 (Storage & Distribution) of the Town & Country Planning (Use Classes) Order 1987. Interested parties are asked to make their own enquiries with the Local Planning Authority.
Tenure: The accommodation is available to let by way of a new full repairing and insuring lease terms for a term of years to incorporate 5 yearly upward only rent reviews. Alternatively, our clients may consider offering individual units for sale.
Rent: £5.50 per sq ft
Price: £85.00 per sq ft
Service Charge: A service charge will be levied to cover upkeep, maintenance and repair of all common parts of the property. Buildings insurance will be charged in addition.
VAT: VAT may be charged in addition to the rent at the prevailing rate.
Business Rates: Description: - Warehouse & premises Rateable Value: - To be assessed upon completion
NOW OVER 50% LET!! - Skegness Trade Park - Brand New Trade Counter/Industrial Units PE25 3AX
Type: Retail, Industrial, Trade counter, Light industrial, Warehouse, Distribution Warehouse, General Industrial, Industrial Park, Storage