Retail Property (high street) for sale

Eastgate, Louth, Lincolnshire, LN11

Under Offer 2,831 sq. ft. | £355,000

Property Description

Commercial information

  • 2,831 sq ft (263 sq m)

Key features

  • Prominent secondary location
  • Let to Cooplands Bakery
  • Rental Passing 27,500 pax
  • Retail Investment
  • Freehold Price 355,000

Full description

Tenure: Freehold

LOCATION:
The property comprises a retail shop located in a prominent position fronting Eastgate. Louth is located 16 miles south of Grimsby and is a popular market town. The property adjoins Millets Outdoor Store, Edinburgh Woollen Mill and Subway with Argos opposite.

DESCRIPTION:
The property is double fronted with upper floors with ancillary storage facilities to the rear. The property is Grade II Listed. The property is traditionally constructed in brickwork beneath a series of pitched slated roofs.

The Accommodation comprises in detail and the following dimensions are approximate:-


Ground Floor
Retail Frontage
Retail Depth
Retail Sales
Preparation Room
Rear Room
Staff Room
W.C.Facilities

NIA Approximately 122.07m (1,314 sq.ft.)

First Floor
Restaurant Seating Area
Restaurant and Seating
Ladies & Gents W.C.'s

NIA Approximately 140.93m (1,517 sq.ft.)

Second Floor
Measurement not included

Total NIA Approximately 263m (2,831 sq.ft.)


RATING ASSESSMENT:
The premises are assessed as follows:-

Rateable Value: 28,750
Description: Shop and Premises

The rate liability may, however, be subject to transitional arrangements.

ENERGY PERFORMANCE CERTIFICATE:
An Energy Performance Certificate shows the property as being within Band: C.

LEGAL COSTS:
Each party to be responsible for their own legal costs and stamp duty.

TENURE:
Freehold subject to a lease to Coopland & Son (Scarborough) Ltd for a term of 10 years commencing 7 June 2010 on a full repairing and insuring basis subject to a Schedule of Condition.

Coopland & Son (Scarborough) Ltd were established in 1949 and trade from 15 retail shops in Yorkshire and Lincolnshire (Source: www.coopland.co.uk) for the year ending 31 March 2015 Coopland & Son (Scarborough) Ltd reported a turnover of 40,364,002 and a pre-tax profit of 1,961,147 and a net worth of 11,252,616 (Source Risk Disk 11 March 2016).

Peter Tew and Company are unable to provide a guarantee with regard to the Title of the property. Parties should instruct their solicitor to investigate the Title to their own satisfaction.

RENTAL PASSING:
27,500 (Twenty Seven Thousand Five Hundred Pounds) pax.

PRICE:
355,000 (Three Hundred and Fifty Five Thousand Pounds).

VIEWING:
Strictly by appointment through this agency.
Contact: Julie Wood
T: 0116 2551527
E: julie@petertew.co.uk

VAT:
Prices are quoted excluding vat.

HEALTH & SAFETY:
You are asked to exercise all care and diligence during your inspection of the property and the Agents are unable to warrant that the property is free of hazards or complies with Health and Safety legislation. The Agents accept no liability for injury or loss to persons or property when visiting the premises.


SUBJECT TO CONTRACT/SUBJECT TO LEASE
ALL TRANSACTIONS ARE STATED EXCLUSIVE OF VAT

Interested parties are advised to check with ourselves that these particulars have not been altered or amended in any way since they were issued.

Ref: 18195.9725e.14.04.16






Nearest station

  • Cleethorpes (13.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Peter Tew & Co, Leicester

Granby House, 171a London Road, Leicester, LE2 1EG

0116 452 0240 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 (13.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Peter Tew & Co, Leicester

Granby House, 171a London Road, Leicester, LE2 1EG

0116 452 0240 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.

Disclaimer - Property reference 18195. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Peter Tew & Co, Leicester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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