38 & 38A Alexandra Road, Cleethorpes

£ 475,000

38 & 38A Alexandra Road, Cleethorpes, DN35 8LE

Freehold Lock up Restaurant (Class E use) with Five self-contained flats above (Shop Vacant, Flats let) – Part Vacant Investment

Total rent reserved £25,083.96 per annum together with vacant possession of the ground floor restaurant

For sale by Auction – Terms & Conditions Apply, Enquire for more details.
Considering offers prior to auction.

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

Location
Cleethorpes is a coastal town east of Grimsby and located at the mouth of the River Humber which has 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 within close proximity. Other occupiers close by include a number of restaurants and bars along with other local traders. Future trade maybe gained from passing pedestrians going to and from Cleethorpes railway station.
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Note
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.

 

BUYER’S PREMIUM

Applies under the fall of the hammer. The purchaser shall pay 10% deposit. Plus, in addition, a buyer’s
premium of 2% of the sale price, a minimum of £5,000 + VAT upon exchange of the contract.

When registering to bid with us we will require 2 forms of ID (Passport, Driving Licence) to fit in line with the Anti-Money Laundering Act.

Basic Facts

Date added: 11/12/23 Post Updated: 2024-05-20 13:48:23 Type: Status:

Features

Busy location with lots of foot traffic
Close to the beach
Five self-contained flats above commercial unit
Freehold
Mixed commercial and residential
Part vacant investment
Restaurant ( class E use) with vacant possession
Total rent £25.083.96 per annum all together

View on map / Neighborhood

This style property is located in Cleethorpes is currently and has been listed on NALC Auctions. This property is listed at £ 475,000. It has bedrooms, bathrooms, and is . The property was built in year.