PE11 15-16 Station Street, Spalding

The property is a terraced brick and slate building with timber windows and occupying a prominent location in Station Street.

INVESTMENT DETAILS

The property is For Sale subject to a recently renewed lease to The Butterfly Hospice Trust, the details of which are as follows:

Term: 5 years from 18th February 2024. The lease is within the security provisions of the Landlord and Tenant Act 1954 Part 11.

Rent: £12,500 per annum, Plus VAT

Repairs Liability: Full Repairing and Insuring

Outgoings Business Rates: Tenants responsible for all

Break Clause: TBO at end of 3rd year of the term

Buildings Insurance: Tenant to repay premium to Landlord

PLANNING

The property is in the Spalding Conservation Area.

Retail Area

Width 28'3" (8.62m) max - narrowing to 5.47m

Average Depth 26'8" (8.15m)

The property provides accommodation on the ground, first and second floors and has an Attic with the following approximate dimensions and areas:-

Ground Floor

Shop 8.62m x max 8.15m

Door off to rear stores/stairs

Store 1.41m x 1.73m

Lobby/Stairs

Door to outside yard

First Floor

Ladies WC WC and wash hand basin, Ideal Logic Gas Boiler

Gents WC WC and wash hand basin

Kitchen 1.91m x 2.15m with range of units

Front Office 3.43m x 3.31m

Front Store Room 3.44m x 2.82m

Staircase to

Attic 6.75m x 2.42m - rough storage - open rafters - limited headroom

Stairs to Second Floor

Front Room 2.87m x 3.44m

Front Room 3.46m x 3.06m

The property has an enclosed rear yard with access from Chapel Lane. There is a small outside store.

TERMS The property is available for sale Freehold, Subject to Tenancy

RATEABLE VALUE We understand from the Valuation Office Agency website that the property has a Rating Assessment of £9,400 with effect from 1 April 2023. Interested parties are advised to make their own enquiries as to eligibility for Business Rates relief by contacting South Holland District Council on 01775 761161.

LEGAL COSTS Each party will be responsible for their own legal costs.

VIEWING Strictly by appointment only.

Heron Foods, Spalding Market and other local independent retailers are also located along Station Street. The Victoria and Sheep Market car parks are nearby, and Spalding's Market Place and main shopping areas are very close by.