For sale by our joint auctioneers NALC Auctions in their 9th February auction, online or in person at our Newark office at 5pm
For sale by Auction – Terms & Conditions Apply, Enquire for more details.
Considering offers prior to auction.
Freehold Lock up Restaurant (Class E use) with Five self-contained flats above (Shop Vacant, Flats let) – Part Vacant Investment
Cleethorpes is a coastal town located at the mouth of the River Humber with ferry routes to Bruges, Belgium and Rotterdam, Netherlands. The property is situated within a retail parade fronting on to Cleethorpes Pier Gardens. Cleethorpes Pier and the sea front are both nearby. Other occupiers close by include restaurants and bars along with other local traders. Future trade may be gained from passing pedestrians
Accommodation / Tenancies (approximate dimensions)
38A: Ground – Restaurant area 95.9 sq.m (1,032 sq.ft) – Vacant
Flat 1 – 38: First Floor – Two rooms, kitchen, bathroom – Rent per month: £368.33
Flat 2 – 38: First Floor – Two rooms, kitchen, bathroom – Rent per month: £477.00
Flat 3 – 38: First Floor – Two rooms, kitchen, bathroom – Rent per month: £425.00
Flat 4 – 38: Second Floor – Two rooms, kitchen, bathroom – Rent per month: £425.00
Flat 5 – 38: Third Floor – Two rooms, kitchen, bathroom – Rent per month: £395.00
Total rent reserved £25,083.96 per annum together with vacant possession of the ground floor restaurant
We are advised that there is a pre-app permitted development letter available from North East Lincolnshire Planning – www.nelincs.gov.uk within the legal pack giving potential (subject to formal application for a Certificate of Lawful use for re-development of the restaurant into Children’s nursery, therefore potentially increasing the overall total rent to be in excess of £50,000 per annum. Prospective purchasers must rely on their own inquiries in this regard.
EPC – Restaurant – D – Flats 1,2,3 & 4 – C – Flat 5 – E
VAT is not applicable to this lot
Applies on the fall of the hammer. The purchaser shall pay a 10% deposit. Plus, In addition a buyer’s premium of 2% of the sale price, Subject to a minimum of £ 4,000 + VAT upon the exchange of contract.
Important Notice to all Buyers & Bidders
• A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price.
• Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure.
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