The accommodation comprises a vast ground floor retail space fronting on to Cleethorpe Road, Grimsby, currently let on a 3 year FRI lease term rent of £1,560 per annum, commencing October 2019. To the upper floors are three, two bedroom self-contained flats all held on six months Shorthold Agreements, generating an annual £12,480, further increasing to £14,040 Per Annum from October 2019. Nearby occupiers include Lloyds TSB Bank, Stevenson’s Furniture Store as well as various other local traders.
The investment is located on the busy thoroughfare of Cleethorpe Road, Grimsby leading to both the town centres of Grimsby and Cleethorpes. Holding a highly visual position within a busy mixed use parade, lying close to the main A180/M180 motorway system and Strand Street from the rear of the premises.
Legal Costs
Each party are responsible for their own legal costs, stamp duty and land tax that may apply.
Rateable Value
We are advised by North East Lincolnshire Council that the Rateable Value is £4,900 for the ground floor commercial unit. All three flats are listed under the Band A assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change and the rates payable can vary due to changes in transitional relief.