13 December 2023: Wednesday 13 December 2023 - 9:00am
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    Key features

    • High Yielding Retail Investment
    • Let to Savers Health and Beauty Limited
    • Producing £28,000 per annum
    • New Five Year Lease from June 2023
    • 2,618 sq ft (243.22 sq m)
    • Guide Price Reflects 15.5% Gross Yield

    Description

    The property comprises a high yielding retail investment opportunity in the heart of the historic market town of Grantham.

    Arranged across ground and first floors, the property is let in its entirety to Savers Health and Beauty Limited on a new five year lease from June 2023 producing a rent of £28,000 per annum. We understand the tenant is a long standing presence in the town, having been in occupation for over 20 years.

    The property sits at the junction of St Peters Hill and the High Street and forms part of the principal retail amenity of Grantham, which in turn is one of the principal towns in South Lincolnshire. Nearby occupiers include Boots, Superdrug, B&M and Clarks.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is let in its entirety to Savers Health and Beauty Limited on a new five year lease from 23rd June 2023 and paying a rent of £28,000 per annum. The lease is on full repairing and insuring terms.


    There is a tenants break clause on 23rd June 2026 with the tenant benefitting from an additional three months rent-free if not exercised.


    Savers Health and Beauty Limited have a Dun & Bradstreet rating of 5A1 and the latest available accounts display the following:


    • Turnover - £672,630,000
    • Pre Tax Profit - £47,019,000
    • Total Assets - £372,298,000


    The business is a major occupier on the High Street with approximately 5,300 employees nationwide.

    Rent

    £28,000 per annum

    Notes

    Savills have not inspected the property and therefore any photos, drawings, plans and areas are for indicative purposes only. Purchasers should rely on their own enquiries.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      • Grantham Station - 0.5 miles

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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