**Location**
The property occupies a prime position along Southgate in the centre of the
market town of Sleaford. The property benefits from a car park opposite and to
the rear. Nearby occupiers include Costa, Boots and Greggs. Sleaford is
situated approximately 14 miles north east of Grantham, 18 miles south of
Lincoln and 17 miles west of Boston.
**Description**
This property comprises a ground floor retail unit with three flats above. One
flat comprises a kitchen, living room, bedroom and bathroom and the other two
flats comprise a kitchen living area, bedroom and shower room. The retail unit
benefits from a prominent shop frontage onto busy Southgate in the town
centre.
**Tenancy information**
25 Southgate is let to Coopland & Son (Scarborough) Ltd on a 15 year Fri lease
expiring on the 26th March 2024 at a current rent of £17, 500 per annum. The
three flats are let on AST's and are producing an income of £17, 040 per annum.
The total rent roll for this property is £34, 540 per annum which equates to an
giy of 8. 12%.
**Accommodation**
We have been informed that the net internal floor areas are as followed;
25 Southgate: 91. 5 Sq m (985 Sq ft)
Flat 1, 25a Southgate: 49 Sq m (527 Sq ft)
Flat 2, 25a Southgate: 41 Sq m (441 Sq ft)
Flat 3, 25a Southgate: 42 Sq m (452 Sq ft)
Total Floor Area: 223. 5 Sq m (2, 405 Sq ft)
**Services**
We understand that the following services are connected. None of the heating
systems or any other plant and equipment have been tested by Commercial List
and prospective purchasers must rely on their own investigations as to their
existence and condition.
25 Southgate - Mains water, gas, electricity and drainage.
All the flats have mains water, electricity and drainage connected.
**Business rates**
From enquiries made though the Valuation Office website, we understand that
the following Rateable value applies;
25 Southgate - £15, 250
Flat 1, 25a Southgate - Council Tax Band A
Flat 2, 25a Southgate - Council Tax Band A
Flat 3, 25a Southgate - Council Tax Band A
**Terms**
The property is for sale freehold subject to the current tenancies at an
asking price of £425, 000 Plus VAT.
**EPC**
The following energy ratings apply;
25 Southgate - tbc
Flat 1, 25a Southgate - E
Flat 2, 25a Southgate - D
Flat 3, 25a Southgate - tbc
**VAT**
Although the property is elected for VAT the sale will be treated as a togc
and therefore VAT will not be payable on the purchase price.
**Legal costs**
Each party to pay their own legal costs incurred.
**Viewing**
For an appointment to view or further information please contact the agent.
**Agents note**
Under the Estate Agents Act of 1979, we hereby give notice that an employee of
Commercial List is a relative of the owner of this property.

Property location on the map: Use mouse double click to (Zoom IN: LEFT button; Zoom OUT: RIGHT button)

Similar properties: