Description
Property Address: 38 & 38A Alexandra Road, Cleethorpes, DN35 8LE
Property Type: Freehold Lock up Restaurant (Class E use) with Five self-contained flats above (Shop Vacant, Flats let) – Part Vacant Investment
Rent: Total rent reserved £25,083.96 per annum together with vacant possession of the ground floor restaurant
Sale: For sale by Auction – Terms & Conditions Apply, Enquire for more details. Considering offers prior to auction.
Accommodation / Tenancies
– **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
The property is situated within a retail parade fronting on to Cleethorpes Pier Gardens, a coastal town east of Grimsby. 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 may be gained from passing pedestrians going to and from Cleethorpes railway station.
What3Words: sector.spider.keys
Note
There is a pre-app permitted development letter available from North East Lincolnshire Planning – www.nelincs.gov.uk within the legal pack. This offers potential for re-development of the restaurant into a Children’s nursery, potentially increasing the overall total rent to be in excess of £50,000 per annum.
Buyer’s Premium
The purchaser shall pay a 10% deposit. In addition, a buyer’s premium of 2% of the sale price + VAT upon the exchange of the contract. When registering to bid, 2 forms of ID (Passport, Driving Licence) are required to comply with the Anti-Money Laundering Act.
For more information, you can visit:
Cleethorpes tourist board
New Cleethorpes restaurant in the planning