Market Rasen, An excellent opportunity to acquire 7 light

Pygott & Crone - Commercial

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· Joined: Feb 17, 2011

£439,950

Market Rasen, An excellent opportunity to acquire 7 light

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Market Rasen, An excellent opportunity to acquire 7 light in Market Rasen LIN is a House

Price:

£439,950 Get Prequalified Today

Contact:

01522 536777

Location:

Market Rasen, Lincs

Description:

An excellent opportunity to acquire 7 light industrial units, all presently tenanted producing a present income of £27,500 with an estimated full rental value of in the region of £35,000 per annum exclusive once fully let. The premises comprise a terrace of light industrial units amounting to a total of 840.59 sq m (9,048 sq ft), with a large yard area and access road off Gallamore Lane.

SITUATION
Market Rasen, formerly East Rasen is a seemingly quiet Market town in the heart of the Lincolnshire countryside. The surrounding area shares much of its roots with Market Rasen, villages such as Tealby, Legsby and Owmby may have their own communities now, but over the years, they were very much a part of East Rasen and an important part of the town's economy.
SITUATION
In the heart of the East Midlands lies the City of Lincoln which has one of the fastest growing economies in the UK. The City and its suburbs have a population in excess of 100,000, and a retail catchment area in the region of 300,000.
2006 Acorn Population Profile
Lincoln 10 mile radius 188,612
Lincoln City is an administrative, educational, business, financial and cultural centre. Companies based in the City include Siemens, Hyder Business Services, Walkers Foods, British Telecom, Lincat and Anglian Water.
Lincolnshire is the fourth largest County in England and there is plenty of scope for growth. Population density of the County is approximately 650,000 in an area covering some 2,200 square miles.
Each year thousands of people choose to settle in Lincolnshire, in fact it is the second fastest growing of all the Shires, with a net inward migration twice that of the national average.
(Source: Lincolnshire Enterprise)
Lincoln City Centre is experiencing major redevelopment and is rapidly expanding. Lincoln is ranked third out of thirty five centres in the East Midlands (Experian retail centre ranking 2002 report) and offers a diverse range of shops and businesses. Lincoln also has one of the UK's newest Universities situated in the heart of the City by the Brayford Pool.
The University is a vibrant forward thinking institution which continues to grow with new facilities being opened recently, including the architects building and medical centre
DESCRIPTION
The site comprises a range of 7 light industrial units with 2 being vacant at the present time. The units are constructed of a steel portal frame construction with internal block and external brickwork together with insulated cladding to the sides and pitched roof, with large hardcored/part tarmacced yard area to the front. The site has direct views over a cricket field. There is also an additional yard area which is separately tenanted.
ACCOMMODATION
The accommodation more particularly comprises:
UNIT 1
139.51 sq m (1501 sq ft)
UNITS 2 & 3
208.69 sq m (2246 sq ft)
Presently joined together.

UNIT 4
104.34 sq m (1123 sq ft)
UNIT 5
160.40 sq m (1726 sq ft)
UNIT 6
194.87 sq m (2097 sq ft)
UNIT 7
33 sq m (355.21 sq ft)
Total 840 sq m (9048.21 sq ft)
TENANTS
The units are presently let to:
Unit 1 - Race Products
Unit 2/3 - Bridgewater Glass
Unit 4 - Dave Scott
Unit 5 - Vacant
Unit 6 - Vacant
Unit 7 - DRF Services
RATES
Contact West Lindsey District Council, tel: 01427676676.
PLANNING
The site has planning for B1, B2 and B8 light industrial, storage and warehousing.
VAT
The price expressed in these particulars is exclusive of VAT at the appropriate rate.
SERVICES
Mains electricty, water, drainage and gas are connected to the site, however all prospective purchasers are advised to check upon the adequacy of these supplies for their own purposes.
EPC
The Energy Performance Certificate for this property has been instructed and will be available shortly.
VIEWING
Viewing is strictly by appointment with the sole agents:
Pygott & Crone
Lawrence House
27-29 Clasketgate
Lincoln
LN2 1JJ
Tel: 01522 536777
Fax: 01522 787603
NOTE
The Money Laundering Regulations 2007 has been extended to include estate agency work with the definition of relevant business. Estate agency is as defined in the Estate Agents Act 1979. Auctioneers and estate agents will have to put certain anti-money laundering procedures into place. Failure to do so will be a criminal offence that carries a penalty of a maximum of two years imprisonment, or a fine or both.
The principal requirements are identification of clients, record keeping, internal reporting procedures and employee training and awareness.

This footer paragraph is an example only and should not be relied upon as complying with current legislation. These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.

Property Type:

Single-Family Houses

Sq feet:

1,123 sq. ft.

Amenities:

Pool, Storage

For sale by:

Agent/Broker

Phone:

01522 536777

Posted:

February 16 2011 on Facebook