5 bedroom commercial property for sale

North Witham,NG33

£1,200,000

Property Description

Full description

Tenure: Freehold

SUBSTANTIAL COMMERCIAL & RESIDENTIAL INVESTMENT PROPERTY
Main road location in North Witham, near Grantham, Lincolnshire
Large house consist of 7 individual lets (option to purchase separately)
Numerous commercial units (available to purchase separately)
5 individual cottages (available to purchase separately)
4 acre site plus additional 1 acre (currently undeveloped)
Early interest and viewing is highly recommended
Would suit investors from within the UK or abroad
300 year old Grade II listed property
Sale includes all fixtures and fittings
Very well appointed and presented
Rental income of 130,000 pa
Easy to manage
FREEHOLD


Location

This character residential/commercial investment property stands on a corner plot situated on the main A1 between Grantham and Stamford. It stands in 4 acres of land with an additional 1 acre plot adjacent which, with approved planning, could be suitable for additional dwellings. The village is located along the upper course of the River Witham, 11.4 miles (18.3 km) south of the nearest major town, Grantham. It has an estimated population of 158 in around 70 households. The village is perhaps best known for its links with Isaac Newton, who is known to have lived nearby and visit the village on numerous occasions and made carvings in the wall of the church porch, and for the presence of nearby RAF North Witham. Nearby villages include Gunby, Colsterworth and Stainby.


Business History

Meridian Business Sales are privileged to offer to the market this profitable, 300 year old Grade II listed, residential and commercial investment property which has been in the careful hands of our client for the last 16 years. The only reason this rare opportunity is being offered to the market is due to our clients desire to concentrate on other business interests. Since our clients took ownership of the property, they have transformed it from a B&B to a very profitable investment property comprising of both residential and commercial lets, which currently achieve an advised annual income of circa 130,000. The business can be run with little or no effort at all from anywhere in the UK or abroad as all rents are collected via direct debit. There is further scope to increase turnover as parts of the commercial property are still vacant in addition to which there is a further adjacent 1 acre plot which could offer scope for further development subject to any relevant planning permission. The main income comes from residential lettings which are on a 6 month assured short tenancy agreement, additional income comes from office and commercial unit lettings as well as a large yard area which is currently rented out to a local coach hire company for vehicle storage. The rear of the building has 12 further metal storage containers which are also individually rented out. Our clients have gone to considerable expense and effort on the presentation of the property and are very generously including fixtures and fittings in the sale price which is a huge plus for a new owner as additional funds will not need to be spent for some time. This is a superb investment opportunity, and as such Meridian Business Sales recommends early viewing.

Financial Profile

Turnover: 131,000pa


Tenure

We are advised freehold

Accommodation
5 acre plot with Grade II listed detached house (7 separate lettings), 5 cottages and numerous commercial lettings, briefly comprising:

Main House

Let 1 - Ground Floor: Conservatory, utility room, kitchen and lounge. First Floor: One double bedroom with en-suite bath, toilet & wash basin (Rental income: 600pm)

Let 2 - Ground Floor: Kitchen, lounge, toilet/ laundry room, double bedroom and bathroom with separate shower cubical (Rental income: 600pm)

Let 3 - Ground Floor: Lounge and toilet. First Floor: Double bedroom with en-suite shower toilet & wash basin and kitchen (Rental income: 500pm)
Let 4 - First Floor: Lounge, kitchen and double bedroom with en-suite bath, shower, toilet & wash basin (Rental income: 600pm)

Let 5 - First Floor: Lounge, double bedroom with wash basin, shower cubicle & toilet (Rental income: 500pm)

Let 6 - Second Floor: Lounge, double bedroom, kitchen and bathroom (Rental income: 500pm)

Let 7 - Second Floor: Bedsit with open plan lounge/ bedroom with kitchen area and en-suite shower, toilet and wash basin (Rental income: 450pm)

Cottages

Let 1 - Ground Floor: Lounge, hallway and kitchen. First Floor: Double bedroom, single bedroom and bathroom (Rental income: 600pm)

Let 2 - Ground Floor: Hallway to lounge and kitchen. First Floor: Double bedroom, single bedroom and bathroom (Rental income: 600pm)

Let 3 - Ground Floor: Lounge, kitchen, 2 double bedrooms and bathroom (Rental income: 600pm)

Let 4 - Ground Floor: Lounge, large kitchen/diner, double bedroom and bathroom (Rental income: 600pm)

Let 5 - Ground Floor: Lounge, large kitchen/diner, double bedroom and bathroom. External: Self-contained yard (Rental income: 600pm)
Commercial Units

Office & Unit (Rental income: 12,000pa)

Empty unit with 3 offices currently vacant which can be sub-let for 600pm

External Lettings

Large yard area currently rented out (Rental income: 12,000pa)

Yard area currently sub-let to a catering van (Rental income: 25pw)

12 metal storage units individually let (Rental income: 25 per unit per week)

External info

Well maintained gardens to front & rear of property with duck pond, additional acre of land (currently not developed) and car park with ample parking.


Nearest station

  • Grantham (8.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Meridian Business Sales Ltd, Bolton

First Floor Office Suite, Nelson Mill, Gaskell Street, Bolton, BL1 2QE

01204 521417 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Grantham (8.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Meridian Business Sales Ltd, Bolton

First Floor Office Suite, Nelson Mill, Gaskell Street, Bolton, BL1 2QE

01204 521417 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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