About this property

Detailed Description

A modern builders merchants outlet consisting of a trade showroom building (with offices, staff facilities and warehouse) and a separate bulky goods warehouse on a fenced and gated site of approx. 1.486 acres. The yard area provides additional storage and is laid to concrete with drainage.

Tenant: Travis Perkins (Properties) Limited.
Term: 10 years from 4th July 2025.
Tenant break: 3rd July 2031 - at least 6 months' notice.
Rent: £65,500 pa.
Rent review: 4th July 2030 (upward only).
Other lease terms: Standard FRI.

For the year ended 31st December 2025 Travis Perkins (Properties) Limited showed a turnover of £71.8m and an operating profit of £21.4m (£18m after tax) and net assets of £62.7m.

Location

Gainsborough is an attractive Lincolnshire Market Town situated approximately 19 miles northwest of Lincoln, 21 miles west of Market Rasen and 23 miles north of Newark. The A1(M) is 16 miles east of Gainsborough. Gainsborough has a residential population of approximately 22,000 and a Local Authority catchment population of approximately 75,000.

The Travis Perkins is prominently located on Longwood Road forming part of the Corringham Rd Ind Estate. Other occupiers on the estate include Howdens, Jewson, Build Base and Screwfix

Accommodation

The following are approximate gross internal floor areas:

Main showroom building 5,935 sq ft
Mezzanines 2,111 sq ft
Bulky goods warehouse 6,479 sq ft
Total 14,525 sq ft

Business Rates

The property may benefit from Small Business Rates Relief which may reduce the rates payable.

Terms

Guide price of £1m showing a gross yield of 6.55% and net, after estimated costs of 6.14%.