North East Lincolnshire Council have completed the purchase of 3-15 Osborne Street, a prominent site in the heart of Grimsby Town Centre.
The 1.6 acre site includes five retail units totalling over 23,000 sq ft, with former tenants including the likes of Somerfield and Poundland, plus a 94 space car park. It has been acquired by the Council as part of its future regeneration and reinvention plans for the high street.
The sale was agreed by joint agents Sanderson Weatherall and Clark Weightman, who acted on behalf of PKF GM as Joint Fixed Charge Receivers.
Craig Watson, acting agent commented “We’re delighted to have completed the sale of the property to North East Lincolnshire Council and look forward to seeing their future plans for the site. The property provided an interesting investment and/or development opportunity in a strategic location in the heart of Grimsby town centre, which was demonstrated by the strong levels of interest we received from a wide variety of interested parties.”
The property occupies a prominent position fronting onto Osborne Street in the heart of Grimsby town centre, with further access from Abbey Walk and Garden Street. Council leader Councillor Philip Jackson told a full council meeting that potential plans and funding opportunities are being looked at.
“Last week we announced that 1.6 acres of town centre development land is being purchased by this council. Contracts have now been exchanged on the area, which comprises of 3 to 15 Osborne Street and the land behind those buildings on Garden Street, which is currently used as a car park,” he said.
“This area has been derelict and a blight on the area for several years. This is a strategic regeneration acquisition, and we need to develop further plans and identify funding opportunities. However, it would be an ideal location for a new transport hub, with its proximity to the main shopping areas and the railway station and enjoying excellent highway connectivity, and would once again provide Grimsby with a proper bus station, complimenting other town centre regeneration projects.”