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64 Westgate, Grantham, NG31 6LA

1,668 sq ft, £250,000

For sale

PRICE: £250,000 FREEHOLD or
TO LET: Rental Terms upon Application

Former Town Centre Public House offering Commercial and Residential redevelopment potential.

• Property occupies extremely prominent town centre location on the corner of Westgate and Dysart Road spread over 3 floors.

• Current Ground Floor gross internal area approximately 1,668 sq ft (155 sq m). Our client's Architects have drawn up plans to potentially extend this element of the property to provide approximately 2,874 sq ft (267 sq m) of Retail space, subject to the relevant planning permission being obtained.

• Two upper floors offer potential for conversation to Residential Apartments subject to the relevant planning permission being obtained.

• Car parking an…

PRICE: £250,000 FREEHOLD or
TO LET: Rental Terms upon Application

Former Town Centre Public House offering Commercial and Residential redevelopment potential.

• Property occupies extremely prominent town centre location on the corner of Westgate and Dysart Road spread over 3 floors.

• Current Ground Floor gross internal area approximately 1,668 sq ft (155 sq m). Our client's Architects have drawn up plans to potentially extend this element of the property to provide approximately 2,874 sq ft (267 sq m) of Retail space, subject to the relevant planning permission being obtained.

• Two upper floors offer potential for conversation to Residential Apartments subject to the relevant planning permission being obtained.

• Car parking and loading facilities to the rear off Dysart Road.

• Property available on either a freehold basis or by way of a new lease - lease term and rental terms upon application.


LOCATION
Grantham is an expanding and popular market town in South Lincolnshire with a resident population of approximately 38,000 people as of the 2011 Census with an extensive catchment area. The town has been awarded Growth Point Status and is currently growing at a dramatic rate in both Residential and Commercial terms. Grantham benefits from excellent road communication links via the A1 to the regional road and national motorway networks as well as a mainline rail connection to London Kings Cross with a journey time of approximately 80 minutes.

Westgate is a popular and predominately Retail town centre location and houses many of the town's historic buildings.

DESCRIPTION
The property briefly comprises a three storey end-terraced former Public House located on the corner of Westgate and Dysart Road. The property is currently vacant and has been subject to some internal works and offers the opportunity to be converted to Retail at Ground Floor level and where potential also exists for the Ground Floor element to be extended into the current car park to the rear to further enhance this element of the accommodation, subject to the relevant planning permission being obtained. Our client's Architect have drawn up plans for such an extension which would still mean that car parking and loading facilities exist to the rear accessed directly off Dysart Road but where the extension may make the property suitable for use as a Convenience Store. The current gross internal area of the Ground Floor element of the property is approximately 1,668 sq ft (155 sq m) and where potential exists, subject to planning permission being granted for the extension proposed, to enhance this area to 2,874 sq ft (267 sq m). The two upper floors could potentially be converted to a number of Residential Apartments, subject to the relevant planning consent being obtained, where access to these would be obtained from the Dysart Road frontage via a dedicated Entrance Lobby.

Our clients are receptive to selling the property in its existing format on a freehold and vacant possession basis, however, they would also be interested in granting a new effective full repairing and insuring lease over the Ground Floor element of the property and potentially undertaking construction of any extension that a proposed occupier would like built and carrying out any internal refurbishment programme required subject to suitable lease and rental terms being agreed.

SERVICES
We understand that mains water, gas, electricity and drainage are either connected or available to the property. Please note that Brown & Co have not tested any of the utilities or apparatus contained within the property and, as such, prospective purchasers/tenants are advised to check upon the adequacy, condition and provision of any services with the relevant Statutory Authorities prior to making an offer to acquire this property on either a freehold or leasehold basis.

TERMS
Lease/Rental Terms
If a prospective tenant is interested in acquiring the Ground Floor element of the property by way of a new effective full repairing and insuring lease, lease and rental terms will need to be negotiated through Brown & Co as Sole Agents, however, the rental terms will be dependent upon whether or not a prospective tenant requires an extension to be constructed to the rear of the property and the covenant strength offered by said tenant. Please contact Brown & Co for further information in this regard. Please note that our client will require a minimum 10 year lease term to be entered into.

Price
We are quoting an asking price of £250,000 for the freehold interest in this property in its current format and in its entirety with vacant possession to be granted upon completion.

OUTGOINGS
The property is currently assessed under the 2017 Rating List as a Public House and Premises with a Rateable Value of £6,600.

The existing first/second floor Flat is currently assessed under the Council Tax Register as a Band A property.

For further information in respect of the levels of Business Rates and Council Tax payable in respect of this property, please contact South Kesteven District Council. Tel: 01476 406080.

VAT
The quoting asking price and rental terms are exclusive of, but may be liable to, VAT at the prevailing rate and prospective purchasers/tenants should clarify the position regarding VAT prior to making an offer to acquire this property on either a freehold or leasehold basis.

PARKING NOTES
Car parking and loading facilities to the rear off Dysart Road.

PLANNING
The property has been used as a number of years as a Public House and Premises and therefore has an established use covered by Use Class A4 of the Use Classes Order 1987. This allows the property to be used for any purpose falling within Use Classes A1 (Retail), A2 (Estate/Letting Agency), A3 (Restaurant/Café) and A4 (Public House/Bar).

Our client's Architect has prepared a set of drawings to extend the Ground Floor of the premises to the rear into part of the existing Car Park accessed off Dysart Road, however, a planning application for this extension has not been made to South Kesteven District Council by our clients.

We understand that the property is not a Listed building but is situated within the established town centre Conservation Area.

Prospective purchasers/tenants are advised to make their own enquires in respect of planning-related matters to the Planning Department at South Kesteven District Council. Tel: 01476 406080.

OTHER
EPC Rating C64.

VIEWING
For further information or an appointment to view this property please contact:
Brown & Co
Tel:01476 514433
James Cameron
James.Cameron@brown-co.com

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