128 & 130, Victoria Street

Grimsby, Lincolnshire DN31 1NT

Guide price £300,000

Lot 11 WITHDRAWN

Description

A three storey building currently arranged as four lock-up retail units at ground floor level and a former night club at first and second floor levels. The property benefits from planning permission for conversion of the upper floors to nine flats. Three of the retail units are let with the fourth and the upper parts vacant to facilitate redevelopment.

Location

Grimsby is a large town and seaport located approximately 22 miles east of Scunthorpe, 29 miles north east of Lincoln and 31 miles north west of Skegness. The town had a population of 88,243 in 2011 (Census). It is physically linked to and forms a conurbation with the adjoining town of Cleethorpes. The Grimsby-Cleethorpes conurbation acts as the cultural, shopping and industrial centre for a large area of northern and eastern Lincolnshire.

Grimsby lies 15 miles from the nearest motorway, the M180 which continues as the A180 into the town and acts as a link to the national motorway network. The town is skirted by the A18, with the A46 passing through the town providing a connection towards Lincoln and the A16 linking the town to Louth and south and eastern Lincolnshire.

The subject property is prominently situated on the southern side Victoria Street at its junction with Pasture Street within Grimsby town centre. Victoria Street links with the A16 (Peaks Parkway) and the A1136 (Frederick Ward Way / Ellis Way) approximately 150 metres to the north west. Grimsby Town railway station is situated approximately 450 metres to the south west.

Planning

Planning permission for change of use of the upper floors from a club and associated areas to form nine residential units was granted by North East Lincolnshire Council (ref: DM/1122/16/FUL) on 23 January 2017. Further details are available upon request.

Services

We understand that the property is connected to mains gas, electricity, water and drainage. Interested parties are advised to make their own enquiries of relevant service providers.

Rateable Values (2017 List)

128 Victoria Street (Hairdressing Salon) - £9,200
130 Victoria Street (Shop) - £7,700
2 Pasture Street (Shop) - £4,050
4 Pasture Street (Shop) - £5,400
Upper Floors (Public House) - £13,000

Tenure & Possession

Freehold subject to existing tenancies.

Tenancies

128 Victoria Street - Let upon an effective full repairing and inursing lease for a term of 7 years from 28 July 2011 at a current rent of £7,000 per annum exclusive.

130 Victora Street - Let upon an effective full repairing and insuring lease for a term of 7 years from 18 May 2013 at a current rent of £5,500 per annum exclusive. The lease provides for rent reviews on 18 November 2017 and 18 May 2019 and a tenant only break clause on 18 May 2019.

2 Pasture Street - Vacant to facilitiate redevelopment of upper parts.

4 Pasture Street - Let upon an effective full repairing and insuring lease for a term of 7 years from 18 May 2013 at a current rent of £5,250 per annum exclusive. The lease provides for a rent review on 18 November 2018 and a tenant only break clause on 18 November 2018.
Upper Floors - Vacant to facilitate redevelopment.

Energy Performance Asset Ratings

128 Victoria Street G185
130 Victoria Street G185
2 Pasture Street - D93
4 Pasture Street E105
Upper Floors E105

VAT

The guide price quoted in these particulars is exclusive of VAT. At the time of preparation of these particulars (October 2017) we understand that the vendor has not elected to charge VAT.

Viewing

Strictly by appointment with the Auctioneers. Tel: 01522 504360.

Completion Date

This lot will be sold with a 10% deposit and up to 8 weeks for completion.

Plans

The attached plans are for identification purposes only and do not constitute any part of contract. They are not to scale.

Auction Bidder Identity Check

Prior to bidding on any auction lots we are required to verify the identity of the bidder to comply with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017. Please contact us on 01522 504360 or auctions@ jhwalter.co.uk so that we can complete an electronic identity check and issue a buyer number. We are most grateful for your assistance and please bring your original identity documents on the night of the auction.

Solicitors

Jonathan Hyldon
Wilkin Chapman LLP
Cartergate House
26 Chantry Lane
Grimsby
DN31 2LJ

01472 253902
jonathan.hyldon@wilkinchapman.co.uk

Agent

Andrew France 01522 504360.

 

You may download, store and use the material for your own personal use and research. You may not republish, retransmit, redistribute or otherwise make the material available to any party or make the same available on any website, online service or bulletin board of your own or of any other party or make the same available in hard copy or in any other media without the website owner's express prior written consent. The website owner's copyright must remain on all reproductions of material taken from this website.

* Please Note: If Google Street View appears with no imagery, it is not available for this property

Click to enlarge:

Click to enlarge: