Swan House New Haven Terrace Grimsby Lincolnshire DN31 2SD

  • Swan House<br>New Haven Terrace<br>Grimsby<br>Lincolnshire<br>DN31 2SD

Swan House
New Haven Terrace
Grimsby
Lincolnshire
DN31 2SD

Freehold Government Let Residential Apartment Block investment

  • Let to North East Lincolnshire Council until 2033 (no breaks)
  • Rent Paid Annually in Advance
  • Rent Reviewed inline with the Consumer Price Index (CPI) subject to a minimum of 1% and a maximum of 4% per annum exclusive annually compounded
  • Comprises 29 One and Two Bed Residential Apartments
  • Benefits from Private and Secure Parking for Approximately 21 Cars
  • 1 Mile from Grimsby Town Centre
  • Lot
    12
  • Auction
    19th December 2024
  • Rent
    £286,520 per Annum Exclusive
    Rising to a Minimum of £304,758.08 and a Maximum of £342,625.86 in July 2028
  • Status
    Available
  • Guide*
    Contact Us
  • Auction Venue
    Live Streamed Auction
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Freehold Government Let Residential Apartment Block investment

  • Let to North East Lincolnshire Council until 2033 (no breaks)
  • Rent Paid Annually in Advance
  • Rent Reviewed inline with the Consumer Price Index (CPI) subject to a minimum of 1% and a maximum of 4% per annum exclusive annually compounded
  • Comprises 29 One and Two Bed Residential Apartments
  • Benefits from Private and Secure Parking for Approximately 21 Cars
  • 1 Mile from Grimsby Town Centre
  • Lot 12
  • Auction 19th December 2024
  • Rent £286,520 per Annum Exclusive Rising to a Minimum of £304,758.08 and a Maximum of £342,625.86 in July 2028
  • Status Available
  • Guide* Contact Us
  • Sector
    Residential
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
33 miles south-east of Kingston upon Hull, 35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby Railway Station
Air
Humberside Airport
Situation

Grimsby, with a resident population of circa 100,000, is a well established commercial centre for North East Lincolnshire and a major fishing port. The town has excellent communications with road connections to the A180/M180 which provides access to the M18, the Humber Bridge and Humberside International Airport.

The property is situated less than 1 mile west of Grimsby town centre, at the junction of New Haven Terrace and Clavering Street. The surrounding area is predominantly residential with a number of local businesses nearby.

Tenure

Freehold.

Location
Miles
33 miles south-east of Kingston upon Hull, 35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby Railway Station
Air
Humberside Airport
Situation

Grimsby, with a resident population of circa 100,000, is a well established commercial centre for North East Lincolnshire and a major fishing port. The town has excellent communications with road connections to the A180/M180 which provides access to the M18, the Humber Bridge and Humberside International Airport.

The property is situated less than 1 mile west of Grimsby town centre, at the junction of New Haven Terrace and Clavering Street. The surrounding area is predominantly residential with a number of local businesses nearby.

Tenure

Freehold.

Description

The property is a substantial residential apartment block comprising 12 x one bedroom and 17 x two bedroom apartments. The property also benefits from a private and gated car park with space for approximately 21 cars.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property is a substantial residential apartment block comprising 12 x one bedroom and 17 x two bedroom apartments. The property also benefits from a private and gated car park with space for approximately 21 cars.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m		 Floor Areas
Approx sq ft		 Tenant Term Rent p.a.x. Rent Review
Ground
First
Second		 12 x 1 bedroom and 17 x 2 bedroom Residential Apartments
-
-
 NORTH EAST LINCOLNSHIRE BOROUGH COUNCIL 10 years from 09/08/2023
£286,520
09/08/2028 linked to the Consumer Price Index subject to a minimum of 1% and a maximum of 4% per annum compounded. (1)
Total Approximate Floor Area  
-
-
    
£286,520 Rising to a minimum of £316,341 pax and a maximum of £348,595 pax in 2028 (1)
  

(1) The lease provides for the rent to be reviewed on 9th August 2028 in line with the Consumer Price Index (CPI) subject to a minimum of 1% and a maximum of 4% per annum exclusive annually compounded,

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Anjali SawaliAnjali Sawali +44 (0)020 7034 4854 +44 (0)0)7854 316 621anjali.sawali@acuitus.co.uk
Seller's Solicitors
Trowers & Hamlins LLP 3 Bunhill Row
London
EC1Y 8YZ
Dwynwen Lewis (0)20 7423 8744dlewis@trowers.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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Guide

The guide is an indication of the minimum price at which the seller may be prepared to sell at the date the guide is published.  If a guide range is provided, it represents a price bracket within which the seller may consider selling.  The guide may be subject to change up to the time of the auction.

The guide does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price.

Reserve

The reserve is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell. The reserve may be subject to change up to the time of the auction.

Price

This is the price at which the property is sold.

Yield

Guide yield – The rent reserved divided by the guide.

Sale price yield – The rent reserved divided by the sale price plus standard purchaser’s costs including stamp duty.

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