Commercial Property for sale in Sheep Market
LOCATION
** Retail Investment Property being sold in conjunction with The Auction House 10:00, 21 October 2026 - Ground Floor Retail Unit - First Floor Ancillary Accommodation and Separate Workshop Building to Rear – Let as a whole - Town Centre location – close to car parks - Auction T's&C's Apply **
The property occupies a prominent location in Sheep Market, near to ‘The Sessions House’ events venue. The property lies close to the pedestrian routing to Holland Market with a large number of multiple operators including Sainsburys incl. Argos, Iceland, Halfords, Home Bargains, Pets at Home and B & Q.
Gore Lane and Victoria Street car parks are located nearby.
DESCRIPTION
A ground floor Sales Shop and first floor ancillary accommodation currently occupied and used as an Opticians together with Opticians Workshop to the rear.
ACCOMMODATION
Ground Floor
Retail Area 3.88m (max) x 11.26m including under stairs cupboard
Testing Room 3.25m x 2.03m
First Floor
Landing Area 4.03m x 3.58m
Front Office LHS 3.62m x 2.86m
Front Office RHS 3.60m x 2.15m
Rear Office 3.71m x 2.77m
The property has the following approximate dimensions
M2 Sq.Ft
Ground Floor Retail Front 19.04 205
Ground Floor Retail Rear 19.23 207
Cupboard 1.00 11
First Floor Ancillary Accommodation 44.59 480
Opticians Workshop 22.43 241
Store 1.70 18
There is a Right of Way through the rear yard serving means of access to neighbouring properties.
SERVICES
Mains water, electricity and drainage
TERMS
The property is available for sale Freehold, Subject to Tenancy
OUTGOINGS
We understand from the Valuation Office Agency website that the property has a Rating Assessment of £9,500 with effect from 1 April 2026.
LEGAL COSTS
Each party will be responsible for their own legal costs.
PARKING NOTES
Gore Lane and Victoria Street car parks are located nearby.
OTHER
INVESTMENT DETAILS
The property is For Sale subject to a lease to Eye Care Centre (Spalding) Limited (Company number 05038148), the summary details of which are as follows: (Lease dated 2.11.22)
Term: From 1st September 2022 until 30th August 2037 – No Break Clause
Rent: £12,250 per annum
Rent Reviews: At the end of every 3rd year of term to Market Rent, upwards only.
Repairs Liability: Tenant to keep the whole of leased property except main walls and roof in
good repair.
Outgoings Business Rates: Tenants responsible for all
Buildings Insurance: Tenant to repay premium to Landlord
Land Registry Title No LL318044.
AUCTION HOUSE NOTES
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
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. These include 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.
VIEWING
Strictly By appointment only.
Property Ref: 101505033096
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