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For Sale Investment 132 Lumley Road Skegness Pe25 3Na

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For Sale Investment 132 Lumley Road Skegness Pe25 3Na FOR SALE INVESTMENT 132 LUMLEY ROAD SKEGNESS PE25 3NA 3,354 SQ FT (313 SQ M) NIA ▪ Freehold retail investment ▪ Prime High Street location approximately 75 metres west of Grand Parade & Jubilee Clock Tower ▪ Let upon a 10 year IRI lease from 20 March 2017 (8½ years unexpired) at a current rent of £26,500 pa ▪ Price reflects a net initial yield of 8.9% PRICE - £290,000 Lambert Smith Hampton 01522 698888 1 Oakwood Road, Doddington Road, Lincoln LN6 3LH www.lsh.co.uk INVESTMENT 132 LUMLEY ROAD, SKEGNESS LOCATION TENANCY Skegness is a seaside town on the Lincolnshire coast located Let upon an internal repairing and insuring lease for a term of 10 approximately 43 miles east of Lincoln. In the 2011 Census years from 20 March 2017 (approximately 8½ years unexpired) at Skegness had a population of 19,579. a current rent of £26,500 per annum. The lease provides for the rent to be reviewed on 20 March 2022 and every fifth anniversary The A52 passes through the town from Boston to Mablethorpe. of that date. The A158 connects Lincoln to Skegness, and connects with the A16 to the north via the A1028. National Express operates direct PRICE daily coaches from East Midlands cities in the warmer months of £290,000. A purchase at this level will reflect a net initial yield of the year. 8.9% having deducted standard purchasers’ costs of 2.9%. Skegness railway station is the terminus for the Grantham to VAT Skegness Line. Trains run the full length of this and the The price quoted in these particulars is exclusive of VAT. At the Nottingham to Grantham Line to give connections to the East time of preparation of these particulars (September 2018) we Midlands. understand that the vendor has not elected to charge VAT. The property is situated on the southern side of Lumley Road, ENERGY PERFORMANCE ASSET RATING one of the town’s main shopping areas, approximately 75 metres D91. The first page of the Energy Performance Certificate (EPC) is west of its junction with Grand Parade (B1451) and 450 metres attached to these particulars. The full EPC and Recommendation east of its junction with Roman Bank (A52). Please refer to the Report are available to interested parties upon request. attached Goad plan for nearby occupiers. LEGAL COSTS DESCRIPTION Each party is to be responsible for their own legal costs. A five storey split level mid terraced property currently arranged as a café / restaurant at ground and basement levels with FURTHER INFORMATION / VIEWING ancillary accommodation on the upper floors. A floor plan is For further information or to arrange a viewing please contact attached to these particulars. sole agents Lambert Smith Hampton: ACCOMMODATION Andrew France BSc (Hons) MRICS Measured in accordance with the RICS Code of Measuring 01522 814663 | 07548 706333 Practice the property provides the following net internal area: [email protected] Floor sq ft sq m Ground 1,136 105.6 Basement 834 77.5 First 533 49.5 Second 461 42.8 Third 400 37.2 Total 3,364 312.6 PLANNING The current use of the property falls within Classes A3 (restaurants and cafés) and A5 (hot food takeaways) of the Town and Country Planning (Use Classes) Order 1987 (as amended). Interested parties should make any planning related enquiries to East Lindsey District Council on 01507 601111. RATEABLE VALUE & COUNCIL TAX The property is entered on the 2017 Rating List at ‘café and premises’ with a rateable value of £19,500. For Council Tax the property is assessed within Band A. Interested parties should make any enquiries to East Lindsey District Council. TENURE Freehold subject to an existing tenancy. Lambert Smith Hampton 01522 698888 1 Oakwood Road, Doddington Road, Lincoln LN6 3LH www.lsh.co.uk INVESTMENT 132 LUMLEY ROAD, SKEGNESS © Lambert Smith Hampton Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any -re sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters. Skegness Experian Goad Plan Created: 04/09/2018 Created By: Lambert Smith Hampton 50 metres For more information on our products and services: Copyright and confidentiality Experian, 2017. © Crown copyright and www.experian.co.uk/goad | [email protected] | 0845 601 6011 database rights 2017. OS 100019885 Poweredby TCPDF (www.tcpdf.org) .
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