Offices in PE21
Wide Bargate, Boston, Lincolnshire, PE21 6SR
Online auction
Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk
- High profile shop
- Arranged over two floors
- Situated in a prime retail area
- Rental income: £20,000 per year
- Potential income £29,000pa when fully let
- Freehold title
Offices in PE21
*For sale via secure sale online bidding: terms and conditions apply.*
We are pleased to offer to auction this central shop and offices that are arranged over 2 floors with both units having access from the frontage.
The ground floor shop is leased to CEX (franchising) Ltd on a 10 year lease commencing on the 6th January 2017 at £20,000 pa.
The first floor is currently vacant office accommodation, which was formerly let to an escape room business and was generating £9,000 per annum.
Please note we have not inspected this property.
Summary
- Property Type: Offices
- Tenure: Freehold
- Parking: None
Location
The attractive property is located in Boston Town Centre in Lincolnshire. Boston is an historic market town in the east of England and has a resident population of circa 70,500 having the greatest increase in population percentage of the East Midlands (7.7% from 2011 to 2021, census).
This Commercial Investment is situated in a prominent position on Wide Bargate with nearby occupiers including Next, Morrisons, W H Smith, Santander, Specsavers and Waterstones. It is also within close proximity to the Prime retailing areas of Strait Bargate and Pescod Square Shopping Centre.
The property is also closely located to Central Park, one of the focal points of the town, where many people enjoy the open space. The Park holds a number of events throughout the year and includes a bird aviary, children's play area, skate park, café, public toilets and open lawned park land.
Accommodation
Ground Floor
Mess/staff room - 9.43 sqm
Kitchen - 3.98 sqm
Internal Storage - 10.4 sqm
Staff toilets
Retail Zone A. - 31-36 sqm
Retail Zone B. - 38.22 sqm
Retail Zone C. - 15.86 sqm
Total - 109.25 sqm
First floor
Escape Room 82.04 sqm
Kitchen 2.59 sqm
Internal storage 1.4 sqm
Toilets
Total - 86.03 sqm
Tenure
Freehold. Title number LL94829.
Rateable Value
The current rateable values as of 1st April 2023:
Ground Floor: £23,250
First floor: £8,000
Sourced from VOA.
EPC
Available upon request.
Ground floor: rating C
First floor: rating E
VAT
The owner has informed us the property is registered for VAT.
Additional Information
For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
This property is being sold subject to unconditional reservation fee auction terms and conditions.
Timescales
Contracts will exchange immediately. There are 28 days in which to complete the purchase.
Legal Pack
A legal pack is available to download. Special conditions may apply.
We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.
Deposit
In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.
The deposit is non-refundable.
Buyer Fees
This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £5,000 + VAT (£6,000 inc VAT) This does not form part of the purchase price.
A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.
More Information
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
ONLINE AUCTION NOTICE
I hereby acknowledge and confirm the following:
My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.
If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.
Any amount payable at the close of the auction must be paid within 1 hour.
Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.
Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.
Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.
The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.
It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.
The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.
Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid
Please note this bidding process applies specifically to online auctions.
More Information is available:
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
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