8 bedroom commercial property for sale

North Witham,NG33

£800,000

Property Description

Commercial information

  • Business for sale

Full description

Tenure: Freehold

COMMERCIAL & RESIDENTIAL INVESTMENT PROPERTY - LINCOLNSHIRE
Main road location in North Witham, near Grantham, Lincolnshire
5 cottages and numerous commercial units
Commercial units available seperatley at 240,000
Early interest and viewing is highly recommended
Would suit investors from within the UK or abroad
Very well appointed and presented
Sale includes all fixtures and fittings
Rental income of 72,000 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. 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, residential and commercial investment property which has been in the careful hands of our client for since 2008. 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 into a very profitable investment property comprising of both residential and commercial lets, which currently achieve an advised annual income of circa 72,000. 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. 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: 72,000pa



Tenure

We are advised freehold


Opening Hours

Open throughout the year


Accommodation

5 cottages and numerous commercial lettings, briefly comprising:

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 - Available seperatley at 240,000
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)

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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