Acquired
Grimsby – Bakery & Flat
246 Freeman Street, Grimsby, South Humberside DN32 9DRLong Leasehold Retail and Residential Investment
Tenure
Leasehold
Lease Term
2 Years
Years Left on Lease
4m
Area
819 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises mid terraced ground floor shop and 1-bed flat above
- The premises are situated close to the Asda superstore on the west side of Freeman Street close to its junction with Hainton Square forming part of an established secondary retail area to the east of Grimsby town centre
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor shop and a 1-bed flat at first floor, providing the following accommodation and dimensions:
Ground Floor Shop: 34.08 sq m (324 sq ft)
Open plan retail, Storage, WC
First Floor Flat: 46.00 sq m (495 sq ft)
1 Bedroom, Living Room, Kitchen, Bathroom
Ground Floor Shop: 34.08 sq m (324 sq ft)
Open plan retail, Storage, WC
First Floor Flat: 46.00 sq m (495 sq ft)
1 Bedroom, Living Room, Kitchen, Bathroom
Tenancy Description
The shop is at present let to an Individual for a term of 2 years from 6th February 2023 at a current rent of £5,980 per annum and the lease contains full repairing and insuring covenants. Deposit held of £1,000.
The first floor flat is at present let on an AST to an individual for a term of 12 months from 1st November 2022 at a current rent of £4,500 per annum. Deposit held of £330.
Tenure:
Long leasehold. Held on a 125 year lease from 1st August 1996 at a ground rent of £255.
The first floor flat is at present let on an AST to an individual for a term of 12 months from 1st November 2022 at a current rent of £4,500 per annum. Deposit held of £330.
Tenure:
Long leasehold. Held on a 125 year lease from 1st August 1996 at a ground rent of £255.
Tenancies & Accommodation
![](https://bluealpine.wpenginepowered.com/wp-content/uploads/2023/05/246-Freeman-Street-Grimsby-South-Humberside-DN32-9DR-tenancies.png)
Location Description
Grimsby is the main commercial centre for North East Lincolnshire having a resident population approaching 100,000 although benefiting from a much larger surrounding catchment area. Grimsby is ideally situated with road connections to the A180 which in turn provides access to the M180, The Humber Bridge and in addition to the Humberside International Airport which is located approximately 14 miles to the south west. Grimsby is one of the largest ports in the country and is situated on the south bank of the Humber Estuary. The combined Humber Ports handle a large percentage of overseas trade (currently worth over £24 billion annually). The premises are situated close to the Asda superstore on the west side of Freeman Street close to its junction with Hainton Square forming part of an established secondary retail area to the east of Grimsby town centre. The premises benefit from good road access via Freeman Street (B1213) and the A180 and thus M180 and the national motorway network.