- Potential development & investment opportunity (STP)
- Total GIA approx. 5,440 sq ft (505.4 sq m). Site area approximately 1.12 acres
- Four industrial units within an established Industrial Estate
- Enclosed Yard to rear
INDUSTRIAL UNITS & YARD / POTENTIAL DEVELOPMENT & INVESTMENT OPPORTUNITY
Units 3a to 3d Vale Industrial Estate, Spilsby PE23 5HE
GUIDE PRICE: £400,000 FREEHOLD
About this property
A well-located, part-let investment opportunity situated on the popular Vale Industrial Estate. The property stands on a site of approximately 1.12 acres and consists of four Industrial Units with a separate enclosed Yard to the rear. Three of the Units are currently let to V Fitness and one Unit is currently Vacant. V Fitness are currently paying a rent of £16,340 per annum, exclusive of VAT.
The Units are of steel framed construction with part brick walls, covered with sheet cladding. The units have an eaves height around 2.8m. The Storage Yard is hard surfaced and benefits from security fencing and an electric gate and offers undoubted further development potential, subject to planning consent being granted.
Spilsby is a Market Town in the Lincolnshire Wolds with a population including the adjoining village of Hundleby of about 3,500. The Town has a thriving community based on Retailing around the Market Place, an Industrial area and Sainsbury Supermarket just to its South and a range of local services including a Medical Centre.
This property is located in the popular Vale Industrial Estate just South of Spilsby. Neighbours include Buildbase, Bush Tyres and Tong Engineering.
Each Unit has been measured on a Gross Internal Area basis.
Description Sq M Sq Ft
Unit 3a (Vacant) 154.6 1,664
Unit 3b 98.1 1,056
Unit 3c 98.1 1,056
Unit 3d 154.6 1,664
Total 505.4 5,440
Rateable Values are as follows under the 2017 Rating List.
Unit 3a - £5,200
Unit 3b, 3c & 3d - £8,500
For further information in respect of Business Rates prospective purchasers should contact East Lindsey District Council as the Billing Authority. Tel: 01507 601111.
We understand that the properties are connected to mains gas, 3 phase electricity, water and drainage.
We have not carried out any tests on any of the services or appliances present at the properties and potential purchasers should arrange for their own tests to ensure that any services are adequate and in good working order prior to committing to purchase.
VIEWING AND FURTHER INFORMATION
Strictly by prior appointment with the Sole Agents:
Brown & Co
5 Oakwood Road Lincoln
Tel: 01522 457800
We understand that the property is elected for VAT.
Each party will be responsible for their own legal costs incurred in respect of any sale negotiated.
Unit 3a - D80
Units 3b, 3C & 3d - B46
TOWN & COUNTRY PLANNING
The units have previously been used for Light Industrial with Units 3b to 3d currently being used as a Gym Premises and as such has an established use now falling under Use Class E.
For further information in respect of planning-related matters, prospective purchasers should contact East Lindsey District Council. Tel: 01507 601111
Unit No. Rent (Per Annum) Rent Per ft2 Lease Start Date Lease End Date
3b, c & d £16,340 £4.33 01/04/2020 31/03/2025
We understand VAT is charged on the rent.
We are offering the freehold interest at £400,000.