Description
The opportunity to acquire a newly build commercial/retail property currently operating as a bar
ightclub but possibility for a residential conversion.

Accommodation
Ground floor – Entrance Lobby, Main Bar & Seating Area , Kitchen, Beer Store Room, Disabled Lift.
Outside- Heated Courtyard.
First Floor- Bar, Dance Floor, DJ Stand , Ladies Toilets , Gents Toilets , Disabled Toilets , Staff Room , Shower Room.

Features
The property, Situated on the busy main road of Scunthorpe close to all amenities, offers various business/residential development opportunities and has capacity for approximately 350 patrons, subject to licences and obtaining the necessary planning consents.

Tenure
Freehold.

Income producing rent:
£25,000 PA

please feel free to contact our sales and enquires team on 01636 558200 or Email us at info@nalcgroup.co.uk

Contracts are to be exchanged on the fall of the hammer and a 10% deposit will be taken from the highest bidder. This deposit will contribute towards the purchase price. In addition the buyer will be obliged to pay the buyers premium as agreed with the auctioneer at the time of exchange.

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 regulation act of 2017.

Freehold: Subject to existing lease agreement.

Description:
The property comprises a prominent period corner building comprising a ground floor banking hall with basement storage accommodation. The entrance via King Street provides self-contained office accommodation arranged on ground, first and second floors. The property contains an internal courtyard area to the rear.
Income: The premises are currently achieving a rack rent of £43,544.51 PA until the 4th of June 2022 , N.B HSBC , HAVE NOT exercised their option to quit.
No vat upon purchase.

A Freehold Bank Investment
• Entirely let to HSBC Bank Plc until 2023 (no breaks)
• Popular tourist destination
• Annual Rent Reviews linked to RPI rising to a minimum of £43,544.51 pa in
June 2022
• Nearby occupiers include Holland & Barrett, Sports Direct, Superdrug and
Iceland
• VAT-free Investment.

Location:
Bridlington is a popular tourist destination situated on the north-east coast of Humberside. The property occupies a prominent corner position on the pedestrianised King Street, at its junction with Manor Street and Chapel Street.
The Promenades Shopping Centre is located within close proximity, housing occupiers including Halifax, NatWest, Holland & Barrett, Peacocks and Sports Direct. Other nearby occupiers include Superdrug, Iceland and CEX

Buyer’s Premium:
Applies on the fall of the hammer. The purchaser shall pay a 10% deposit. Plus, In addition a buyer’s premium of 2% of the sale price, Subject to a minimum of £3000 + VAT upon the exchange of contract.