Property photos
Sold STC
Auction
Guide price
£50,000
Retail premises for sale
172-176 Trinity Street, Gainsborough, Lincolnshire DN21Local area information
Property location
Nearby amenities
- Benjamin Adlard Primary School 0.3 miles
- Warren Wood - A Specialist Academy 0.5 miles
- Gainsborough Central 0.5 miles
- Gainsborough Lea Road 0.5 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Gainsborough to find out more about the local area.
Features and description
For sale by online auction on Tuesday, 19 Nov 2024 ending at 13:17
*online Unconditional Auction Opening 19 November 2024*
To register for the legal pack and bidding, please visit our website:
Situation:
The property is prominently positioned in the heart of Gainsborough, on Trinity Street, offering excellent access to the centre and its wealth of facilities and amenities, including the popular Marshalls Yard retail and leisure complex. The surrounding towns of Retford, Newark, Scunthorpe and cities of Doncaster and Lincoln are all easily accessible.
Description:
A wonderful opportunity to acquire this mixed use, 3 story property in the heart of this popular Lincolnshire market town, giving significant further scope for income currently passing at £10,800 per annum. The property is arranged as a ground floor retail unit, currently let at £6000 per annum to an established business of over 3 years, along with both first and second floor being self contained flats, the upper of which is subject to a tenancy at £4800 per annum. The first floor flat is in need of some improvement work but offers further potential for additional income, with current market rents for a well appointed flat of this nature achieving circa £525/£550pcm. The total potential income (with rents at market value and further improvement works) approaching £20,000 per annum.Ground Floor Primary Retail Unit,
Front Service Area,
Rear Ancillary Rooms and Space
Total Floor Area Approx 60sqm
First Floor Self Contained Flat
Total Floor Area Approx 42sqmSecond Floor Self Contained Flat
Total Floor Area Approx 41sqmMaterial Information
Tenure:
The property is freehold. All prospective bidders should satisfy themselves of the tenure by inspecting the legal pack.
Council Tax:
The property falls within West Linsdey Council - Flats Band A
Premises Current rateable value (1 April 2023 to present) £4,650
Possession:
Subject to existing tenancy agreements.
Viewing:
Strictly by appointment with Auction House.
Services:
Prospective purchasers are advised to make their own enquiries of the relevant statutory authorities. Nb: Services, Apparatus
Featured Lot
False
EPC Rating: C
Additional Fees
Buyers Premium: £1800 inc VAT payable on exchange of contracts.
Administration Charge - £1800 inc VAT payable on exchange of contracts.
Disbursments - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
*online Unconditional Auction Opening 19 November 2024*
To register for the legal pack and bidding, please visit our website:
Situation:
The property is prominently positioned in the heart of Gainsborough, on Trinity Street, offering excellent access to the centre and its wealth of facilities and amenities, including the popular Marshalls Yard retail and leisure complex. The surrounding towns of Retford, Newark, Scunthorpe and cities of Doncaster and Lincoln are all easily accessible.
Description:
A wonderful opportunity to acquire this mixed use, 3 story property in the heart of this popular Lincolnshire market town, giving significant further scope for income currently passing at £10,800 per annum. The property is arranged as a ground floor retail unit, currently let at £6000 per annum to an established business of over 3 years, along with both first and second floor being self contained flats, the upper of which is subject to a tenancy at £4800 per annum. The first floor flat is in need of some improvement work but offers further potential for additional income, with current market rents for a well appointed flat of this nature achieving circa £525/£550pcm. The total potential income (with rents at market value and further improvement works) approaching £20,000 per annum.Ground Floor Primary Retail Unit,
Front Service Area,
Rear Ancillary Rooms and Space
Total Floor Area Approx 60sqm
First Floor Self Contained Flat
Total Floor Area Approx 42sqmSecond Floor Self Contained Flat
Total Floor Area Approx 41sqmMaterial Information
Tenure:
The property is freehold. All prospective bidders should satisfy themselves of the tenure by inspecting the legal pack.
Council Tax:
The property falls within West Linsdey Council - Flats Band A
Premises Current rateable value (1 April 2023 to present) £4,650
Possession:
Subject to existing tenancy agreements.
Viewing:
Strictly by appointment with Auction House.
Services:
Prospective purchasers are advised to make their own enquiries of the relevant statutory authorities. Nb: Services, Apparatus
Featured Lot
False
EPC Rating: C
Additional Fees
Buyers Premium: £1800 inc VAT payable on exchange of contracts.
Administration Charge - £1800 inc VAT payable on exchange of contracts.
Disbursments - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Floor plans and tours
Floor plans (1)
More information
Listed by
Auction House Lincolnshire, North Notts & South Yorks
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