Lumley Road

 

For Sale £500,000

Skegness

Key Features

  • Investment Opportunity
  • Prime Town Centre Location
  • Cafe and Charity Shop to Ground Floor
  • 4x 1 Bedroom Flats at 1st & 2nd Floor
  • Currently achieving £54,300 per annum exclusive
  • EPC Ratings - Various (see within)

Investment opportunity for sale in a prime location on Lumley Road including cafe, charity shop and 4x 1 bedroomed flats.


LOCATION -

Skegness is the principal Lincolnshire coastal resort with a resident population of around 20,000 persons, increasing substantially in the summer months with the influx of holiday makers and day visitors. It lies some 40 miles east and south of Lincoln and Grimsby respectively, with main communication links via the A52 and A158 roads as well as a regional rail service to Grantham and Nottingham.

7 & 9 Lumley Road is located in an excellent position within the main shopping area on Skegness’ busy Lumley Road, close to Local and National retailers such as Argos, New Look and JD Sports.

7 LUMLEY ROAD -

ACCOMMODATION -

CAFE - 5.05m x 15.08m (16'6" x 49'5")

Well presented café currently occupying the space with serving counter.

TOILET -

With modern WC and wash hand basin.

HALLWAY -

With shelving.

STORE - 3.33m x 3.51m (10'11" x 11'6")

KITCHEN - 2.12m x 3.33m (6'11" x 10'11")

OUTSIDE TOILET -

(not inspected)

LEASE -

We understand that the property is held on a lease for a period of 6 years from 1st April 2021 at a rent of £17,500 per annum.

RATEABLE VALUE -

Enquiry of the VOA website indicates:-
Description – Shop and premises
Rateable Value – £19,000
Rating Authority – East Lindsey District Council.

ENERGY PERFORMANCE RATING -

EPC Rating – C

9 LUMLEY ROAD -

ACCOMMODATION -

MAIN RETAIL AREA - 5.14m max x 7.9m max (16'10" max x 25'11" max)

Main retail area with display shelving to all sides and excellent display windows to the frontage.

REAR RETAIL AREA - 2.03m x 2.78m (6'7" x 9'1")

With display shelving to all walls.

STOCK ROOM - 2.52m x 2.78m (8'3" x 9'1")

STAFF OFFICE - 3.66m x 3.27m max (12'0" x 10'8" max)

With small store cupboard.

KITCHEN - 1.68m x 1.4m (5'6" x 4'7")

With stainless steel sink.

TOILET -

With WC and wash hand basin.

LEASE -

We understand that the property is held on a lease to SENSE for a period of 5 years from 3rd April 2022 at a rent of £16,000 per annum.

RATEABLE VALUE -

Enquiry of the VOA website indicates:-
Description – Shop and premises
Rateable Value – £14,000
Rating Authority – East Lindsey District Council.

ENERGY PERFORMANCE RATING -

EPC Rating – C

LUMLEY CHAMBERS -

Above the ground floor retail areas are four flats which can be accessed directly from Lumley Road.

FLATS ACCOMMODATION -

The flats 2, 4, 7 and 9 consist of Kitchen, Living Room, Hallway, Bathroom and a double bedroom. Flat 9 has separate bathroom and toilet.

STORE - 3.3m x 4.77m max (10'9" x 15'7" max)

TENANCIES -

Each flat is held on an AST for a period of 6 months as follows;

FLAT 2 – From 13th December 2023 at £100 per week
FLAT 4 – From 9th June 2023 at £400 every 4 weeks in advance
FLAT 7 – From 25th November 2023 at £100 per week
FLAT 9 – From 1st July 2023 at £100 per week

COUNCIL TAX -

Council Tax Band – A
Rating Authority – East Lindsey District Council.

ENERGY PERFORMANCE RATING -

Flat 2 – E
Flat 4 – E
Flat 7 – E
Flat 9 – E

PARKING -

We understand an area to the rear of the properties is available for parking for numerous vehicles accessed off Prince George Street.

SERVICES -

Mains services are understood to be available. The agents have not inspected or tested any of the services or service installations and tenants should make their own enquiries.

LEGAL COSTS -

The purchaser will be responsible for the vendor’s reasonable legal costs.

VIEWING -

Strictly by appointment with the sole agents, TES Property.

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