Convenience Store for sale

Freehold Retail Investment Let to Spar at 15 Market Place, Lincolnshire, Louth,LN11 9PB

Offers in Excess of £575,000
4,767 sq. ft.

Property Description

Commercial information

  • 4,767 sq ft (442 sq m)

Key features

  • Freehold Convenience Store Investment
  • Town centre location adjacent to Greggs
  • Entirely let to Spar
  • New 15 year lease with no breaks

Full description

Tenure: Freehold

ADDRESS: 15 Market Place, Lincolnshire, Louth,LN11 9PB
Freehold Convenience Store Investment
Town centre location adjacent to Greggs
Entirely let to Spar
New 15 year lease with no breaks
LOCATION
Louth is a prosperous Lincolnshire town situated approximately 18 miles south of Grimsby, 22 miles north-east of Lincoln and 65
miles north-east of Nottingham. Local communications are good with the A16 leading to Grimsby to the north and Stamford to the
south. The A631 runs out of the town centre and links directly with the M18 motorway some 45 miles to the west.
SITUATION:
The property is situated in a prominent position at the junction between Market Place and Mercer Row in the heart of Louth town
centre. Both roads benefit from a number of local bus services. Occupiers close by include Greggs (adjacent), NatWest, Holland and
Barrett, Santander, The Carphone Warehouse, Boots the Chemist, Lloyds Bank and Specsavers amongst many other high profile and
local traders.
DESCRIPTION
The property is arranged on ground and two upper floors to provide a ground floor convenience store with ancillary accommodation to
the remainder of the ground floor and staff accommodation at mezzanine level. The upper floors to the front of the building provide
further ancillary accommodation.
ACCOMMODATION:
Gross Frontage 8.55 m (28' 1"), Net Frontage 7.85 m (25' 9"), Shop Depth 25.85 m (84' 9")
Ground Floor 442.9 sq m (4,767 sq ft), Mezzanine 11.90 sq m (128 sq ft)
First & Second Floor - No Access, NB. Areas taken from www.voa.gov.uk
TENANCY:
The entire property is at present let to Mr Patel (t/a Spar) for a term of 15 years from 16th July 2017 at a current rent of 41,000 per
annum. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants.
RENT: 41,000 p.a. TENURE: Freehold VAT: Applicable
PRICE: Offers in excess of 575, 000 - 6.8% Net


More information from this agent

Nearest station

  • Cleethorpes (13.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Suttons, London

100 Pall Mall London SW1Y 5NQ

020 8012 3073 Local call rate

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To view this property or request more details, contact:

Suttons, London

100 Pall Mall London SW1Y 5NQ

020 8012 3073 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

  • Cleethorpes (13.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Suttons, London

100 Pall Mall London SW1Y 5NQ

020 8012 3073 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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