Commercial Property
The property comprises a spacious and attractive four storey town centre Head Office building of great character and well presented throughout.
It is occupied by Newton Fallowell (wholely owned by Belvoir Plc) and operates as an Estate Agency and associated offices. The property extends to approximately 4,435 sq.ft. (412 sq.m.).
The property occupies a prominent frontage to High Street having a return frontage to Butchers Row in the heart of Grantham Town Centre.
Grantham is a popular market town located just off the A1 and is an easy commute to Lincoln, approximately 23 miles to the north and Nottingham approximately 22 miles to the west.
The town benefits from a high speed rail service to Kings Cross London just over an hour away and has been recognised as one of the best commuter towns in the Country and one of the best towns to live in Britain.
Grantham has an expanding and developing town centre, with many thriving shops and shopping centres including The George and Isaac Newton shopping centres.
We understand that the property is Freehold, subject to a full repairing and insuring Lease for a term of 10 years with effect from 21st July 2014, at a current rent of £42,000 per annum. There is a provision for a rent review on the 1st June 2019.
The original Lease to Newton & Derry Ltd has been assigned to Newton Fallowell Ltd, who are wholely owned by Belvoir Plc.
Further details and a copy of the Lease will be available for inspection within the legal pack.
All interested parties should refer to the Legal Pack.
Strictly by appointment with the Auctioneers.
Freehold. Commercial investment.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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