No bars, no signal predictedOne bar, reliable signal unlikelyTwo bars, may experience problems with connectivityThree bars, likely to have good coverage and receive a data rate to support basic web servicesFull bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
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£750,000
Added > 14 days

Property for sale

Red Lion Street, Spalding PE11
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Property
0 bed
0 bath
7,000 sq ft / 650 sq m

Property description & features

Location...

The historic market town of Spalding is located approximately 100 miles to the north of London on the South Lincolnshire Fens and has a population of around 35,000 residents.


It is renowned for Spalding Flower Parade and celebrates the region’s vast tulip flower production.


The town has a stable economy, well regarded retail offering, good sporting facilities and schools.


The property is located in the centre of town on Red Lion Street which connects the busy conduit of New Road to the Market Place.


Opposite the property is a large college campus, retail properties including Vodafone, Costa Coffee, Holland & Barrett, Barclays Bank are located nearby.


Description...

The premises comprise 6 separate lettings located within one group of buildings.


The lettings comprise 3 retail units with first floor tuition rooms, a recruitment agency and escape rooms on two floors above.


The buildings appear to have been constructed over 3 separate periods and are of conventional construction, being masonry under pitched tiled roofs, the accommodation arranged on the ground, first and second floors.


3 Red Lion Street - Flowers ‘n’ Things

Accommodation...

Sales Area…………………………………13.2m x 6.4m, 88sqm

Ceiling height 3.5m.

Rear Preparation Room………………3.4m x 8.7m, 30sqm

Store…………………4.2m x 2.3m and 2.4m x 2.2m, 15sqm

L Shaped

WC

Having low level WC.

Additional Preparation Area………7.2m x 3.8m, 28sqm

2 Parking Spaces


Agent Note…

Presently this business is currently operated by the sellers of the building.


1 Red Lion Street - Penningtons Coffee Shop

Accommodation...

Sales Counter Area……………………5m x 8.1m, 41sqm

2nd Sales Area/Seating Area……10m x 4.6m, 47sqm

Customer WCs

Having male and female WCs.

Rear Private Courtyard………4.3m ave x 6.3m, 28sqm

Enclosed and Covered.

External Seating Area………………6.4m x 4.8m, 31sqm

Kitchen………………………………3.9m x 2.5m ave, 10sqm

2nd Kitchen/Food Prep Area……3.5m x 3.6m, 13sqm


Agent Note…

Penningtons Coffee Shop is a profitable business which is available separately and is owned by the sellers of the building.


1A Red Lion Street – 1A Antiques

Accommodation...

Ground Floor Sales Area……………9m x 5.29m, 47sqm

First Floor…………………………………6.7m x 5.4m, 36sqm

Store

WC/Kitchenette


Agent Note…

This property is let on Internal Repairing Terms on a lease on Internal Repairing Terms at £9,600 per annum plus VAT.


2 Red Lion Street - Lincs Tuition 

Accommodation...

Room 1…………………………………5.2m x 3.4m, 18sqm

Room 2…………………………………4.1m x 3.5m, 15sqm

WC

Kitchenette……………………………1.7m x 1.3m, 3sqm


Agent Note…

This is a first floor teaching centre above the coffee shop. It is let at a passing rent of £4,200 per annum excluding bills. The tenant is responsible for an apportionment of annual building insurance premium.


Above No. 3 Red Lion Street is a communal entrance leading to the first and second floors where there are 2 tenants, one a recruitment agency, the other running Escape Rooms.


3A Red Lion Street - Rush Hour Escape Rooms 

Accommodation...

Escape Room Suite………………………5.1m x 8.8m, 45sqm 

This area is divided into two partitioned escape rooms.

Kitchen……………………………………………2.8m x 2m, 6sqm

WC


Second Floor 

Escape Room Reception Area…………5m x 2.9m, 41sqm

2 Escape Rooms (estimated)……………………………30sqm

Circulation Space……………………………………………10sqm


Agent Notes...

The Escape Rooms are let on Internal Repairing Terms at £7,800 per annum excluding bills and the insurance contribution.


3 Red Lion Street - Capital Recruitment


Accommodation...

Open Plan Office…………………………9.7m x 6.3m, 61sqm

Having modern wall finishes, partitioned areas.

Office 2…………………………………4.1m x 4.1m, 17sqm

Kitchen – Unmeasured

WC


Agent Notes...

Capital Recruitment occupy first floor accommodation let on an Internal Repairing Lease at a rent of £7,800 per annum excluding bills and the annual landlord’s insurance premium.


Schedule of Accommodation…


1 Red Lion St

Penningtons Coffee Shop

Ground Floor Sales

115sqm 1,235sqft

Ancillary Accommodation

47sqm 505sqft

ERV £15,700 pa

3 Red Lion St

Flowers ‘n’ Things

Ground Floor Sales

88sqm 945sqft

Ancillary Accommodation

77sqm 825sqft

ERV £12,700 pa

1A Antiques

Ground Floor Sales

47sqm 500sqft

1st Floor Sales

36sqm 385sqft

Passing Rent £9,600 pa

Lincs Tuition, 2 Red Lion St

1st Floor Net Internal Area

33sqm 355sqft

Passing Rent £4,200 pa

Capital Recruitment

Net Internal Area

80sqm 840sqft

Passing Rent £7,800 pa

Escape Rooms - 2 floors

Net Internal Area

96sqm 1,0335sqft

Circulation

31sqm 335sqft

Passing Rent £7,800 pa

Total NIA

650sqm 7,000sqft

Total Passing Rent £29,400 pa

Total ERV £57,800 pa


Sales Terms…

The property is available freehold subject to the existing occupational leases.


Outgoings...


Address Rateable Value

Flowers ‘n’ Things, 1-3 Red Lion Street £12,250

Ground Floor 1a, Red Lion Street £11,250

Penningtons, 1-3 Red Lion Street £5,000

Escape Rooms, Red Lion Street £7,800

1st Floor 1a, Red Lion Street £1,425

1st Floor 2, Red Lion Street £1,875


EPC...

1 & 3 Red Lion Street have an EPC asset Rating C63, 1a is rated C51 and 3a, 3b and 3c are rated E108. Full details are available on request.


Viewing...

All viewings are to be made by appointment through the agent.

poyntons.com


Property information from this agent

Places of interest

    Run by a Chartered Surveyor with over 20 years experience, James Fairman has a wealth of  resources to draw upon. The business has clients all over the UK. James has previously managed departments for Savills, Brown & Co. Pygott and Crone and  Thomas Balderston & Co. James gained a degree in Building Surveying from Sheffield Hallam before gaining experience  in  the fields of Agency, Building Surveying and General Practice. He has also been the chief instigator on a number of development projects in the fields of residential, commercial, industrial, retail and healthcare development, now successfully completed. As a Registered Valuer James advises a number of pension funds with regards to new acquisitions  and ongoing management. Independently-owned and independently-minded, not afraid to give honest advice.

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    Broadband availability and predicted speed

    Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:

    Basic: Up to 30 Mbit/s
    Super-fast: Between 30 Mbit/s and 300 Mbit/s
    Ultra-fast: Over 300 Mbit/s

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    Mobile phone signal availability and predicted strength

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    Clear: No bars, no signal predicted
    Red: One bar, reliable signal unlikely
    Amber: Two bars, may experience problems with connectivity
    Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
    Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services

    Energy Performance data and Internal floor area

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    *Call rate information

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