About this property

Detailed Description

The property currently comprises three Retail Units and two flats. 5 Market Street is a Ground Floor Retail Unit comprising a sales area to the front with a WC to the rear.

5A Market Street is a Ground Floor Retail Unit which currently comprises of a sales area and a store. This Unit currently does not
have any WC facilities.

5B Market Street is a split-level Flat and comprises 2 bedrooms, kitchen, living room and bathroom on the Second Floor. Access to
the Flat is from the First Floor with its own hallway/staircase leading to the living accommodation on the Second Floor.

5C Market Street is a First Floor Flat and comprises one bedroom, kitchen, living room, store and bath/shower room.

26/28 High Street is a Retail Unit that comprises of a sales area on the Ground Floor with a WC and office/storage accommodation on the First Floor.

Location

Spilsby is a Market Town in Lincolnshire in the east of England. It lies around 13 miles to the West of Skegness, 15 miles North of Boston and 25 miles East of Lincoln. The subject properties fronts both Market Street and High Street. Retailers in the vicinity include The Original Factory Shop, Coop Pharmacy and Cooplands Bakery.

Accommodation

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

5 Market Street - 29.3 sq m / 315 sq ft
5a Market Street - 24.2 sq m / 260 sq ft
Flat 5b Market Street - 52.6 sq m / 567 sq ft
Flat 5c Market Street - 34.2 sq m / 368 sq ft
26 & 28 High Street - 58.1 sq m / 626 sq ft
TOTAL NIA - 198.4 SQ M / 2,136 SQ FT

Business Rates

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

5 Market Street - Shop & Premises - £5,100
5A Market Street- Shop & Premises - £3,900
26-28 High Street - Shop & Premises - £6,900

We understand that both Flats 5B & 5C are assessed in 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 exemption that may exist in respect of the payment of Business Rates, prospective purchasers should contact East Lindsey District Council. Tel: 01507 601111.

Services

We understand that the properties are connected to mains gas, electricity, water and drainage. We have not carried out any tests on any of the services and appliances believed to be present at 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

Strictly by prior appointment with the Sole Selling Agents:

Will Gaunt
01522 457182
07919 694235
william.gaunt@brown-co.com

James Cameron
01522 457172
07768 465753
james.cameron@brown-co.com

VAT

We understand that the property is not elected for VAT.

Legal Costs

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

Other

TOWN AND COUNTRY PLANNING
The Retail Units have been used as a Shop and Premises and as such now has an established use falling under Use Class E of The Use Classes Order 2020. For further information in respect of planning related matters, prospective purchasers should contact
East Lindsey District Council. Tel: 01507 601111.

TENANCY SCHEDULE
Both flats are currently let by way of Assured Shorthold Tenancy Agreements Flat 5B is achieving a rent of £395 per calendar month
and Flat 5C is achieving £350 per calendar month. The three Retail Units are currently vacant.

EPC
5 Market Street has an EPC rating of D79.
5A Market Street has an EPC rating of C70.
26/28 Hight Street, Spilsby has an EPC rating TBC.
Flat 5B has an EPC rating of E41.
Flat 5C has an EPC rating of D62.