Eastgate

 

For Sale £325,000

Louth, Lincolnshire


INVESTMENT OPPORTUNITY FOR SALE

  • 2 x shop units with offices/storage above
  • Town centre position
  • Frontage to Eastgate (Unit 1) & Little Eastgate (Unit 2)
  • Current income of £25,250 per annum
  • Unit 2 – EPC Rating E

Tenure: Leasehold


Location -

Louth is a market town of approximately 17,000 people, famous for its thrice weekly market and cattle market. The town centre provides essential services for a large rural area and secondary schools, banks and shopping facilities. The town is famous for its sole proprietor independent retailers, including butchers, bakers and specialist clothing shops etc. In addition, the town accommodates the main High Street banks and national retailers including Boots the Chemist, WH Smith, Millets etc. There are 3 supermarkets in the town, being a Co-operative, Morrison’s and Aldi.

The property is situated on Little Eastgate between Annikas and Eve & Ranshaw department store and opposite the Meridian House and Town Hall offices.

Shop Floor - 14' 5'' x 40' 7'' (4.4m x 12.38m)

max with customer fitting room, shelving and hanging rails, service counter and emergency exit, staircase to;

Landing -

With storage shelving

Stock Room - 17' 10'' x 36' 3'' (5.425m x 11.05m)

partitioned to include staff kitchen area with stainless steel sink, drainer, space for fridge, base, wall and drawer units, a small office space, and ample storage. An emergency exit with emergency lighting is accessed via side lobby.

Toilets -

With WC and hand basin

Shop - 11' 10'' x 26' 7'' (3.61m x 8.1m)

fully fitted out barbers’ shop with suspended ceiling, flush lighting, meter cupboard, and fire alarm panel.

Rear Lobby - 6' 6'' x 8' 2'' (1.98m x 2.5m)

with fire escape to shared yard, emergency lighting and stairs up to:

First Floor -

Landing with emergency exit out to metal staircase

Hallway -

With 2 x Ladies WCs with pedestal hand basins and low flush WCs, 1 Gents WC

Staff Kitchen - 10' 11'' x 8' 5'' (3.32m x 2.56m)

with stainless steel sink and drainer set in base unit with further wall cupboard. Staircase to

Main Sales Shop/office -

Of shaped design extending to 52.2 m², with air conditioning cassette

Office 2 - 7' 10'' x 12' 2'' (2.39m x 3.7m)

8.84 m², with air conditioning cassette

Office 3 - 11' 8'' x 13' 7'' (3.56m x 4.13m)

14.7 m², with air conditioning cassette

Outside -

Shared central yard with alleyway access to the fish market.

Rateable Value -

Enquiry of the Valuation Office Agency web-site indicates the rating assessment from the 1st April 2017 as
Unit 2 – 44 Eastgate, Louth
Shop & Premises – £5,600.

Services -

We understand that mains electricity and water are available to both units. Please note that these services have not been tested and all prospective purchasers are advised to check these are adequate for their needs

Legal Fees -

Each party will be responsible for their own legal fees in relation to the sale of the property.

Lease -

Unit 1, 44 Eastgate is currently let on a lease for £16,000 p.a on a 10-year lease from October 2015.
Unit 2, 44 Eastgate is currently let on a lease for £9,250 p.a on a 3-year lease from May 2018.

Vat -

All prices quoted exclude VAT

Viewing -

Strictly by appointment with the agents at the Louth office on 01507 602264.

Measurements -

Measurements are approximate with the metric conversion shown in brackets, taken wall to wall unless otherwise indicated.

Disclaimer -

Notice is hereby given that these particulars are set out for the guidance of proposed purchasers and, although due care is taken in their preparation and they are believed to be correct, proposed purchasers must not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness. These particulars are issued on the understanding that all negotiations are carried out through the agents Turner Evans Stevens but they do not constitute an offer or contract. Any price quoted in these particulars is subject to contract. No person employed by Turner Evans Stevens Limited has any authority to make or give any representation or warranty whatsoever in relation to this property.

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01507 602 264

survey@tes-property.co.uk

1 Queen Street, Louth, Lincolnshire LN11 9AU