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Fishermans Wharf, Grimsby, DN31

£950,000.00 £62.52 /sf
15,194 sf
Office Investments for Sale

Fishermans Wharf, Grimsby, DN31

£950,000.00 £62.52 /sf
15,194 sf
The ground floor is let to FOCUS Independent Adult Social Work CIC on an effective FRI lease for a term of 15 years from 7 March 2019 at a passing rent of £36,250 per annum. The lease provides for the annual rent to be reviewed by reference to RPI every fifth anniversary of the lease commencement date. There is a mutual rolling option to break subject to either party service 12 months notice, such break date to be no earlier than the fifth anniversary of the lease commencement date. Provisions of section 24 to 28 of the LTA 1954 are excluded.

The first floor is also let to FOCUS Independent Adult Social Work CIC on an effective FRI lease for a term of years expiring 15 September 2034 at a passing rent of £36,250 per annum. The lease provides for the annual rent to be reviewed by reference to RPI on 16 September 2024 and every fifth anniversary of that date. There is a mutual rolling option to break subject to either party service 12 months notice, such break date to be no earlier than 18 June 2023. Provisions of section 24 to 28 of the LTA 1954 are excluded.

The second floor is let to Peopleplus Group Ltd on an effective FRI lease for a term of 5 years from 8 August 2019 at a passing rent of £40,000 per annum. The lease provides for the annual rent to be increased to £45,000 from 8 August 2021. The tenant may terminate the lease at any time after 8 August 2022 on providing not less than 6 months prior written notice. Provisions of section 24 to 28 of the LTA 1954 are excluded.

Location

Heritage House is situated in a convenient location adjacent to the National Fishing Heritage Centre, Alexandra Dock Business Centre, a Sainsburyyys Supermarket and a short walk across Frederick Ward Way to the nearby Freshney Place Shopping Centre (which is the heart of Grimsby town centre). The townnns bus station is adjacent to Freshney Place and the railway station is a short walk to the south.

Amenities

High quality landmark three storey office building
Close to Town Centre
Fully let producing £112,500pa increasing to £117,500pa
Price reflectes net reversionary yield of 11.2%
Prior approval change of use for 20 flats granted
Long leasehold for sale (97 years unexpired)

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Investment property for SaleInvestment property for Sale in Grimsby
Lambert Smith Hampton
01522 698 888
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Investment property for SaleGrimsbyFishermans Wharf, Grimsby, DN31