The property briefly comprises a Ground Floor lock-up Retail Unit which we understand to be held by way of the remainder of a 999 year long leasehold interest.
Internally, the premises briefly comprise a small Retail Unit with ancillary WC facilities to the rear, with the premises having a glazed shop front and side personnel door. No external grounds or car parking are provided with the property making the investment easy to maintain for the landlord and the tenant going forward.
Grantham is an established market town in South Lincolnshire with a resident population of approximately 38,000 people and benefits from excellent road communication links via the A1 to the regional road and national motorway networks as well as having a main line rail connection to London Kings Cross with a journey time of approximately 75 minutes.
Grantham is located approximately 23 miles east of the city of Nottingham and 25 miles south of the city of Lincoln. The property occupies a prime High Street location adjacent to B and M Bargains, Boots The Chemist and Lloyds Bank.
Long leasehold, town centre Retail investment.
Premises to be let from the date of completion of the sale to 420 Ventures Ltd for a 5-year term at a fixed rent of £6,000 per annum on an effective full repairing and insuring basis. The lease to contain annual break options.
Rarely available small investment opportunity in prime location.
Net initial yield approx. 10.9%.
( Agency Pilot Software Ref: 428307 )