Summary - 15-16, STATION STREET PE11 1EF
1 bed 1 bath Commercial Property
Period retail freehold with immediate income — short lease limits lending options.
Town-centre retail unit with ground, first and second floors
A period terraced retail investment in Spalding town centre, this three-storey property (ground, first, second plus attic) is let in whole to The Butterfly Hospice Trust on a recently signed five-year lease producing £12,500pa. The shop frontage occupies a prominent position on Station Street, close to Victoria and Sheep Market car parks and a dense mix of local retailers and services — good footfall and convenient rear access to Chapel Lane.
The tenant holds a full repairing and insuring lease and is responsible for business rates; the lease term provides immediate income but includes a tenant break option at the end of year three. The building retains period character, solid brick construction and timber windows and sits within the Spalding Conservation Area, which helps protect the street scene but limits some external alterations.
Important practical considerations: only five years remain on the lease, which will likely make mortgage finance difficult or unavailable for many buyers. The property is VAT applicable and located in an area with higher-than-average crime and a medium flood risk — both factors that affect insurance and operational costs. The enclosed rear yard and small outside store are useful but the plot is compact.
For investors seeking an entry-level freehold retail asset with immediate income and central location, this offers clear short-term yield and upside when the lease concludes. Buyers should factor in lending constraints, insurance considerations, and conservation-area restrictions when assessing total return and exit options.
High street retail property for sale in 18 Station Street/1 Chapel Lane Spalding, PE11 1EF, PE11 — £180,000 • 1 bed • 1 bath • 598 ft²
High street retail property for sale in Sheep Market, Spalding PE11 1BH, PE11 — £200,000 • 1 bed • 1 bath • 1738 ft²
High street retail property for sale in Market Place, Spalding, Lincolnshire, PE11 — £190,000 • 1 bed • 1 bath • 1224 ft²
High street retail property for sale in 12 Vine Street, Spalding, PE11 1AN, PE11 — £135,000 • 1 bed • 1 bath • 853 ft²
Takeaway for sale in Sheep Market, Spalding, Lincolnshire, PE11 1BE, PE11 — £275,000 • 1 bed • 1 bath • 1737 ft²
Commercial property for sale in Winsover Road, Spalding, PE11 — £480,000 • 7 bed • 3 bath • 862 ft²
