Description
Property
The property comprises an industrial unit of steel portal frame construction with part brick/block and clad elevations. The unit provides an office area and WC facilities. Externally the property provides parking/loading and circulation areas.
EPC
127F
Location
The property is situated on Hollis Road just off Earlesfield Lane, within the Western business quarter of Grantham. It has an excellent strategic position providing quick access to the A607 proceeding onto the A1.
Nearby occupiers include Lincolnshire Training Providers, Hollis Road Garden Centre, Damasco UK and Totemic.
Grantham is a historic and popular south Lincolnshire Market Town, that straddles the London to Edinburgh East Coast Main Rail Line and is bounded to the west by the A1 North/South Trunk Road. The town lies approximately 23 miles south of Lincoln and 22 miles east of Nottingham.
Grantham has a population of circa 45,000 and a large and affluent catchment close to 220,000.
Covenant Strength
Grantham Gymnastics Limited (Company No. 10563094) provide a Credit Safe score of 82/100. Further information can be provided upon request.
Tenure
The property is let to Grantham Gymnastics Limited on an Internal Repairing and Insuring Lease for a term of 5 years which expires 6th April 2027. The rental is on a stepped basis, starting at £15,000 per annum exclusive in year 1, £16,000 per annum exclusive in year 2 and rising to £17,500 per annum exclusive from year 3 onwards. The average rent is therefore £16,700 per annum.
vat
We understand the property is elected for VAT; however, it is expected that the sale will be progressed as a TOGC.
lEGAL COSTS
Each party is to be responsible for their own legal costs incurred in documenting the transaction.