£6,000,000
(£6.62/sq. ft)
Property for saleCleethorpes Pearl Holiday Park, 208 North Sea Lane, Humberston, Grimsby DN36
906,048 sq. ft
Freehold
About this property
Freehold interest in part of Cleethorpes Pearl Holiday Park
Long established and well regarded holiday park
Extending to approx. 20.8 acres
Extensive array of static pitches
57 years unexpired term, tenant break in 2038
£330,000 per annum with rpi reviews
Description
We are instructed to sell a freehold ground rent investment subject to a lease to Riverhead Commercial Services Limited. The lease is dated 1 November 2018, expiring on 30 October 2083. There are 57 years unexpired. The rent passing is £330,000 per annum exclusive subject to rpi rent reviews. The next rent review is on 31 October 2028 and thereafter on a five yearly basis. There is a tenant only break clause on 31 October 2038 and thereafter on a 10 yearly basis.
Location
The available freehold forms a substantial part of the Cleethorpes Pearl Holiday Park (formerly known as Beachcomber Holiday Park) and is situated in a prominent position at the junction of North Sea Lane and Kings Road to the south of Cleethorpes town centre and adjacent to Haven’s Thorpe Park Holiday Centre and close to Humberston Fitties. It is within walking distance of the beach which is situated approximately 500m east of the park with a coastal footpath and cycle path linking to the town centre and other sea-front amenities to the north.
Nearby attractions include Cleethorpes Coast Light Railway, Cleethorpes Golf Club and the Boating Lake. Meridian Point is a short distance away which is home to Parkway Cinema, 10 pin bowling and various food and beverage establishments. Traditional sea-front amusements and the Pier are located further to the north, adjacent to the main town centre.
Cleethorpes is a long-established and popular holiday resort, readily accessible from the major conurbations of South Yorkshire and Nottinghamshire with good links to the national motorway network via the A180.
We are instructed to sell a freehold ground rent investment subject to a lease to Riverhead Commercial Services Limited. The lease is dated 1 November 2018, expiring on 30 October 2083. There are 57 years unexpired. The rent passing is £330,000 per annum exclusive subject to rpi rent reviews. The next rent review is on 31 October 2028 and thereafter on a five yearly basis. There is a tenant only break clause on 31 October 2038 and thereafter on a 10 yearly basis.
Location
The available freehold forms a substantial part of the Cleethorpes Pearl Holiday Park (formerly known as Beachcomber Holiday Park) and is situated in a prominent position at the junction of North Sea Lane and Kings Road to the south of Cleethorpes town centre and adjacent to Haven’s Thorpe Park Holiday Centre and close to Humberston Fitties. It is within walking distance of the beach which is situated approximately 500m east of the park with a coastal footpath and cycle path linking to the town centre and other sea-front amenities to the north.
Nearby attractions include Cleethorpes Coast Light Railway, Cleethorpes Golf Club and the Boating Lake. Meridian Point is a short distance away which is home to Parkway Cinema, 10 pin bowling and various food and beverage establishments. Traditional sea-front amusements and the Pier are located further to the north, adjacent to the main town centre.
Cleethorpes is a long-established and popular holiday resort, readily accessible from the major conurbations of South Yorkshire and Nottinghamshire with good links to the national motorway network via the A180.
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