• Attractive retail investment

• Prime retailing pitch

• Let to Molson & Associates Opticians until July 2025

• The unit has been fitted out to a high standard

• Freehold

• £290,000, subject to contract

• 9.0% Net Initial Yield

The property occupies a prime location in the heart of Spalding town centre on the south side of the pedestrianised Hall Place, close to the junction with Market Place. Surrounding occupiers include Nationwide & WHSmith (adjacent), Costa, Holland & Barrett, Greggs, Specsavers, Boots and Superdrug.

The property comprises a ground floor retail unit with some consulting rooms to the rear, along with office/staff/ancillary accommodation at first floor level. Internally, the retail area has been fitted out by the tenant to a high standard.

Freehold.

The property is let to Molsom & Associates Limited on a full repairing and insuring lease for a term of 15 years from 13th July 2010, expiring on 12th July 2025. The lease is guaranteed by Mr Andrew Molsom.

The current passing rent is £27,000 per annum.

It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC) and the purchaser will be required to submit the appropriate election to HMRC. It should be noted that the administrators may not hold documentation to prove VAT election at the point of completion.

We are instructed to seek a figure of £290,000 (Two Hundred and Ninety Thousand Pounds), subject to contract, reflecting a net initial yield of 9.0%, assuming standard purchaser’s costs of 3.18%.

Please note that a purchaser will be re-charged the costs of the measured survey (£345 + VAT) and searches (£751.41 + VAT) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of 1% of the Purchase Price plus VAT.

The affairs, business and property of the Company is being managed by the Joint Administrators Andrew Knowles and Steven Muncaster, who act as agents for the Company and without personal liability. Both are licensed by the Insolvency Practitioners Association and are bound by the Insolvency Code of Ethics.

Access to the data room and for the ability to purchase online with speed and ease, please click the clicktopurchase® “C” icon or the clicktopurchase® side bar. Purchasers will be able to access the complete legal package, clear verification and submit legally-binding offers to acquire the property.

Purchasers benefit from the trust, security and transparency provided by the platform. All activities, including the online contract execution, will form part of the electronic audit trail which is anchored in the clicktopurchase® Blockchain.

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