Bristol Arcade, Southgate/Market Place, Sleaford, Lincolnshire, NG34 7ST

Rarely available multi-let,mixed Retail & Residential Investment Property

Occupying prominent Town Centre location

Covered Shopping Arcade comprising 15 Retail Units

5 self contained Residential Flats, Office Suite and various Garages

RETAIL & RESIDENTIAL INVESTMENT
BRISTOL ARCADE, MARKET PLACE / SOUTHGATE, SLEAFORD NG34 7ST
PRICE: £1,500,000 FREEHOLD

RETAIL & RESIDENTIAL INVESTMENT
BRISTOL ARCADE, MARKET PLACE / SOUTHGATE, SLEAFORD NG34 7ST
PRICE: £1,500,000 FREEHOLD

Detailed Description

The Market Place frontage to Bristol Arcade comprises a Grade II Listed 3-storey predominantly stone built structure with the entrance from Southgate comprising a covered walkway leading to various Retail Units thereof, the majority of which are of brick construction.

The Retail element of the property comprises 15 individual Retail Units of varying sizes, some of which have their own WC facilities, the remainder having shared use of communal WC facilities for the tenants concerned accessed off the covered walkway. Some of the Retail Units have ancillary accommodation at First Floor level.

The 5 Residential Flats are all situated at First and Second levels and comprise 3x 2 bedroom Flats and 2x 1 bedroom Flats. One Flat is currently vacant and requires internal refurbishment works offering the potential to add further rental income.

North Kesteven District Council have aspirations to construct a pedestrian foot bridge which will link Bristol Arcade over the River Slea to Money's Yard and the proposed Town Centre Cinema / Leisure scheme to potentially be constructed on an adjacent site. This should significantly enhance footfall to Bristol Arcade.

The property also offers further development opportunities to the new owner as some currently vacant properties, including a 2-storey detached structure overlooking the River Slea, could be redeveloped for a wide variety of uses to include Restaurant / Café, subject to the relevant planning consents being obtained.

Location

Sleaford is an established Market Town in the centre of the County of Lincolnshire having a resident population of approximately 20,000 people and offering excellent road communication links via the A15 and A17 Trunk Roads and with the Cathedral City of Lincoln being approximately 18 miles to the North.

Bristol Arcade occupies an extremely prominent position on the corner of Market Place and Southgate with the various Retail Units being accessed off a central covered walkway linking the two.

Further areas suitable for redevelopment

Current gross rental income approx. £130,000 pax.


Estimated ERV £155,000 pax