Summary - 7, MARKET ARCADE DN21 2DY
1 bed 1 bath Not Specified
Low-cost town centre investment or renovation opportunity near bus links.
999 year lease to be granted to buyer on completion at a peppercorn rent
Vacant possession on completion — suitable for immediate refurbishment
Ground-floor retail frontage with three roller shutters and rear entrance
First-floor multiple office rooms above adjoining Market Hall unit
Interior needs repairs: ceiling damage and stained carpets noted
Services not tested — buyer must verify utilities and compliance
Very high local crime and very deprived area may affect demand
Auction sale — £1,440 admin fee and £1,440 buyer's premium payable
Located in Gainsborough town centre, Unit 7 offers a low-entry commercial investment or refurbishment project with long lease security. The property extends over two storeys with ground-floor retail frontage protected by three roller shutters and a range of first-floor office rooms. A 999-year lease will be granted on completion at a peppercorn rent, and vacant possession will be provided, simplifying ownership transfer for the buyer.
The town centre is undergoing regeneration and the unit sits next to the bus station, with recent nearby investment including a new cinema complex and expanding retail and hospitality offerings. These local improvements, plus excellent mobile signal and fast broadband, support a variety of commercial uses or conversion potential subject to planning.
Buyers should note material drawbacks plainly: the area rates as very deprived with very high crime levels, which may affect footfall and tenant demand. The interior shows clear repair needs — damaged ceiling and stained carpet — and services/apparatus have not been tested. The sale is by auction with fees: an administration fee and a buyer’s premium (both £1,440 inc VAT) payable on exchange; see the legal pack for full disbursements and tenure details.
This lot will suit investors or developers seeking a low-price, long-lease town-centre opportunity where uplift can be achieved through refurbishment and active management. Conduct full due diligence on lease terms, service charges, utilities and local trading conditions before bidding.
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