Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • To be offered on Tuesday 25 November
    • High Yielding Retail Investment
    • Retail Unit and Upper Parts
    • Let to Specsavers on a Renewed Lease
    • Five Year Lease Expiring 04.09.2030
    • Tenant in Occupation for 15+ Years
    • 5,094 sq ft (473.23 sq m)
    • Prominent Corner Pitch
    • High Footfall Pedestrianised Street
    • Investment Let at £30,000 p.a. (13.04% GIY on Guide Price)

    Description

    The property comprises a high yielding retail investment opportunity let to Specsavers and occupying a prime corner pitch on a pedestrianised street.

    Arranged as two ground floor retail units with associated upper parts, the ground floor retail unit at 31 Victoria Street and the Upper Parts are let to Specsavers Optical Superstores Limited, a long-standing occupier of 15+ years, on a recently renewed five year lease expiring 04.09.2030 and paying £30,000 per annum.

    The ground floor retail unit at 33 Victoria Street is sold off on a long leasehold basis. This leasehold is also available and details can be found here.

    The property occupies a prominent corner pitch with a principal frontage to Victoria Street, forming part of the retail heart of Grimsby characterised by a number of national occupiers including Subway, Greggs, Savers and McDonalds. Freshney Place Shopping Centre lies to the rear of the property with the nearby Brewery Street forming the principal point of access.

    Additional information

    Tenure

    Freehold

    Tenancy

    The ground floor retail unit at 31 Victoria Street and the Upper Parts are let to Specsavers Optical Superstores Limited, a long-standing occupier of 15+ years, on a recently renewed five year lease expiring 04.09.2030 and paying £30,000 per annum.


    The tenant recently renewed their lease displaying confidence in the location. The renewal includes a period of reduced rent until 05/09/2026 however the vendor will "top up" the rent to the full quoted rent for the duration of this concession.


    The lease is on full repairing and insuring terms and includes a tenants break option in the third year.


    Specsavers Optical Superstores Limited


    • D&B Rating - 5A2
    • Turnover (2024) - £3.74bn
    • Pre-Tax Profit (2024) - £323.6m


    The ground floor retail unit at 33 Victoria Street is sold off on a long leasehold basis. This leasehold is also available and details can be found here.

    Rent

    £30,000 per annum

    Notes

    We understand the property is elected for VAT.

      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      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

      Legal documents

      Login to view legal documents

      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.

      Addendums