Eastgate, Louth

Investment property for sale in an excellent town centre location achieving £85,000 per annum exclusive.

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, Morrisons and Aldi.

These highly visual premises are found on Eastgate in a prominent area of high footfall in the centre of Louth.

Accommodation -

Ground Floor -

Main Shop Floor - 23.76m (max) x 34.73m (max) (77'11" (max) x 113'11 -

Lift Lobby - 2.75m x 6.46m (9'0" x 21'2") -

First Floor -

Lobby -

Ladies' Toilets -

Cleaner's Store -

Disabled Access Toilets -

Gents' Toilets -

Office - 5.22m x 2.4m (17'1" x 7'10") -

Staff Room - 3.84m x 4.56m (12'7" x 14'11") - With stainless steel sink and drainer, wall, base and drawer units, part tiles walls.

Manager's Office - 2.578m x 3.27m (8'5" x 10'8") -

Stock Room - 21.76 x 13.22 max (71'4" x 43'4" max) - Accessed from rear stairwell

With lift lobby, store and lifts

Outside -

Rear Staff Parking & Deliveries -

Agent's Note - The property is available For Sale with realistic offers considered.

Services - Some mains services are understood to be available. The agents have not inspected or tested any of the services or service installations and tenants should make their own enquiries.

Rateable Value - Enquiry of the VOA website indicates:-
Description - Shop and premises
Rateable Value - £110,000
Rating Authority - East Lindsey District Council.

Tenure - The property is understood to be of freehold tenure.

Lease Details - The property is Let by way of a 10 year FRI lease contracted inside the security of tenure provisions of the Landlord & Tenant Act 1954 Part II as amended at a rent of £85,000 per annum exclusive. The tenant has a break clause at the end of Year 5 and is currently benefiting from a rent free period.

Vat - Please note, all prices quoted may be subject to VAT unless stated otherwise.

Viewing - Strictly by appointment with the sole agents, TES Property.