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Lot 4

Freehold Commercial Investment t/a Betfred – Gross Yield 12.5%
6 week completion

Situation

Occupying a prominent trading position in the heart of the pedestrianised town centre with its twice weekly market, adjacent to Boots and Co-op Travel and amongst such multiples as Savers, Card Factory, Superdrug, Specsavers, Holland & Barrett, Greggs, TGJones, Costa Coffee, Lloyds Bank, William Hill and many more, being less than 1/4 mile from Spalding Rail Station (East Midlands Railway).
Spalding is an attractive Lincolnshire market town located some 15 miles north of Peterborough and approx. 23 miles west of Kings Lynn and benefits from good road links via the A16 and A151.

Property

A mid terrace building comprising a Ground Floor Double Shop with internal access to Ancillary Accommodation on the first and second floors (see Note).

Accommodation

Ground Floor Double Shop
Gross Frontage 28'5"
Internal Width 26'0"
Shop Depth 46'7"
Built Depth 55'4"
2 WCs
First Floor Ancillary (above No. 15)
Area Approx. 502 sq ft
Second Floor Ancillary (above No. 15)
Area Approx. 119 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Done Brothers (Cash Betting) Limited t/a Betfred (having approx. 1,300 branches) for a term of 15 years from 23rd April 2026 (in occupation since 2017) at a current rent of £25,000 per annum exclusive.

Rent Reviews and Tenant's Break 2031 and 2036

Note: The first and second floors above No. 16 have been sealed off and currently there is no access to this part of the property.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

15–16 Hall Place, Spalding, Lincolnshire PE11 1SA