About this property

Detailed Description

The properties comprise three buildings in a terrace on the corner of High Street and Butchers Row in the centre of Grantham. All of the buildings are understood to be Grade II Listed structures situated within the established Town Centre Conservation Area. Two of the Retail Units, being No.'s 66 & 67 High Street, are let along with the Residential Flat at No. 66a High Street. No. 65 High Street is currently vacant and being marketed on a leasehold basis by Brown & Co.

Location

Grantham is an established Market Town in South Lincolnshire being approximately 23 miles East of Nottingham and 25 miles South of Lincoln having a Residential population of approximately 38,000 people with a large catchment area. The A1 runs immediately to the West of the Town providing excellent road communications. Grantham also has a main line rail connection to London Kings Cross with a fastest journey time of approximately 75 minutes. The properties occupy an excellent Retail location in the centre of Grantham with nearby occupiers to include Subway and Newton Fallowell Estate Agents.

Accommodation

The three Retail Units have been measured on a net internal area basis and briefly comprise as follows:

65 - Retail Unit & Ancillary Space - 131 sq m / 1,410 sq ft
66 - Retail Unit & Ancillary Space - 76 sq m / 818 sq ft
67 - Retail Unit & Ancillary Space - 215 sq m / 2,314 sq ft

66a HIgh Street is understood to comprise a self-contained 2 bedroomed Residential Flat. This property has not been inspected by Brown & Co as part of this marketing process. Prospective purchasers are advised to contact Brown & Co to arrange a full inspection of the four separate properties being offered to the market where arrangements will need to be made with the individual tenants as appropriate.

Business Rates

We understand that the three Retail Units were assessed under the 2023 Rating List as follows:

65 - Shop & Premises - £8,800
66 - Shop & Premises - £7,700
67 - Shop & Premises - £13,250

We understand that the Residential Flat at 66a High Street is assessed on the Council Tax Register as a Band A property.

For further information in respect of the level of Business Rates and Council Tax payable in respect of each element of the property, and any potential exemptions that may exist in respect of the payment of Business Rates, prospective purchasers should contact South Kesteven District Council. Tel: 01476 406080.

Services

We understand that each of the properties forming part of this sale are either connected to, or are capable of being connected to mains electricity, gas, water and drainage. We have not carried out any tests on any of the services or appliances present at any of the properties and potential purchasers should arrange for their own tests to ensure that any services are adequate and in good working order prior to committing to purchase these properties.

Viewing

For further information or to arrange a viewing in respect of the properties concerned please contact:

James Cameron
01522 457800
07768 465753
james.cameron@brown-co.com

William Gaunt
01522 504322
07919 694235
william.gaunt@brown-co.com

VAT

The rental terms and asking price quoted within these Sales Particulars is exclusive of, but may be liable to VAT at the prevailing rate and prospective purchasers are advised to clarify the position regarding VAT prior to making an offer to acquire these properties.

Legal Costs

Each party will be responsible for their own legal costs in respect of any sale negotiated.

Other

TOWN & COUNTRY PLANNING
The three Retail Units have either historically been, or are currently being used for general Retail purposes and as such should have established uses falling under Use Class E. 66a High Street has been a Residential Dwelling for a number of years. We understand that all of the properties are Grade II Listed structures and are all situated within the established Town Centre Conservation Area. For further information in respect of planning-related matters, prospective purchasers should contact South Kesteven District Council. Tel: 01476 406080.

EPC RATINGS
65 High Street - Rating D83 - Valid until 11/07/2028
66 High Street - Rating C62 - Valid until 19/03/2034
66a High Street - Rating D57 - Valid until 27/06/2027
67 High Street - Rating C69 - Valid until 04/05/2032

Terms

65 High Street is currently being offered to the market by Brown & Co by way of a new effective full repairing and insuring lease to a term to be negotiated at a quoting rent of £13,750 p.a.x.

66 High Street is let by way of an effective full repairing and insuring lease expiring on 11/01/2027 at a rent of £11,500 p.a.x. Use is a Tanning Salon.

66a High Street is let by way of a 6 month Assured Shorthold Tenancy Agreement expiring on 06/09/2024 on an unfurnished basis at a rent totalling £7,500 p.a.x.

67 High Street is let by way of an effective full repairing and insuring lease expiring on 30/06/2027 at a rent of £15,000 p.a.x. Use is sale of Mobility Products. The tenant's obligations are limited by way of a Photographic Schedule of Condition attached to the lease.

Copies of the leases and tenancy as described above are available to prospective purchasers from Brown & Co upon request.

PRICE:
£400,000 for the freehold interest in the properties concerned, subject to the terms of the leases and tenancy as described herein, and where vacant possession is available in respect of 65 High Street.