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Commercial Development Property In Scunthorpe For Sale

Scunthorpe, Lincolnshire
Asking Price:
£130,000 Furniture / Fixtures included
Sales Revenue:
Available on request
Cash Flow:
Available on request

Freehold Commercial Property
Large Property On Prominent Corner Location
Formally Working Mens Club
Available To Let For £288 Per Week
New Lease Offered (If Preferred)
2 Bedroom Flat Above
Car Park To Side
Planning Permission Granted For Extention
EPC - E

INTRODUCTION

This extensive A4 property situated in a residential area of Scunthorpe. Consequently there are excellent transport links to both the M180 and the M181 motorways.

The property is a former working men’s club, function venue and bar and also consists of a two bedroom flat and has an extensive carpark. However it is useful to note, there is full planning permission which was granted February 2017 for extensions and external alterations.

LOCATION

The property is situated on the south side of Rowland Road, which is in close proximity is to the A1029 (Brigg Road) and consequently the steelworks and Scunthorpe town centre. The immediate area however, is residential.

REASON FOR SALE

Our vendor has numerous other investment properties and is unable to commit their time required to develop this project.

LEASE

The building is primarily for sale as a freehold proposition however the vendor is willing to grant a new lease covered by 1954 landlord and tenants act for a minimum of 10 years at an annual rent of £15,000 per annum. Rent reviews are proposed to be every three years and the lease will be subject to landlords covenants and bond.

BUILDING LAYOUT AND DESIGN

The property comprises of what once would’ve been a club, function room and bar together with a two bedroom flat. There is also an extensive carpark and garage. The property is constructed in rendered brick and has a prominent position fronting onto Rowland Road where it intersects Trent Street and Cliff Street.

Supporting the ground floor is a basement cellar, the first floor contains the accommodation. New owners have the framework in which to substantially develop this as a commercial and ongoing proposition.

BUSINESS RATES

The purchaser will be responsible for the payment of business rates, enquiries with the local authority revealed that the property currently attracts a 2010 rateable value of £8,700 which is subject to current uniform business rate in the pound.

SUMMARY

This is an outstanding proposition to any potential investor and developer. We are advised that the total accommodation area is 5567 ft.² so as a consequence potential buyers are acquiring this for a little over £26 per square foot, an outstanding proposition. Given the addition of planning permission and the tremendous profits opportunity available, this is worthy of serious consideration from any investor

Property information

Property:

Freehold

Business Operation

Trading hours:

Closed

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