Shop

£75,000

Red Lion Street, Spalding PE11

FOR SALE
Property Description

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 businesses are 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...
Flowers n Things is a profitable business showing a healthy turnover in the region of £250,000pa.

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

Agents Note…
Flowers n Things is available for £75,000 plus VAT including fixtures and fittings, one item is an 18 month old van. Stock is available at valuation.

The new owner would be responsible for utilities including rates and an annual insurance premium for their apportionment of the building.

Penningtons Coffee Shop…
Penningtons Coffee Shop is located at 1 Red Lion Street and comprises a leasehold coffee business which is also available for sale separately at an asking price of £50,000 plus VAT. It has shown average turnovers in the region of £125,000 to £136,000 per year with recent turnover reduced due to Covid closures.

Full accounts are available to interested parties.

Freehold of the Property…
The Freehold of the property 1-3 Red Lion Street, comprising 6 separate tenants producing a total rent of £57,800 per annum is also available Freehold for £750,000 plus VAT subject to contract.

EPC...
1 & 3 Red Lion Street have an EPC asset Rating C63. Full details are available on request.

Outgoings...
Flowers n Things has a Rateable Value of £12,250. Penningtons has a Rateable Value of £5,000. Further details are available on the voa website.

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

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Marketed By

Poyntons Consultancy (Boston)

24, 26 and 28 South Street
Boston
Lincolnshire
PE21 6HT

01205 361694

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