14A Market Place, Alford, Lincolnshire, LN13

Investment Consideration:
Gross Initial Yield: 8.40%
Rental Income: £8,400 p.a.
Let until 2029. No breaks
VAT is applicable to this property. TOGC available.
Let until 2032. No breaks. Rent review in 3rd year linked to RPI
Comprises large ground floor retail shop t/a office
Occupiers close by include Post Office and Co-op Food, amongst others

Property Description:
Comprises large ground floor retail premises, providing the following accommodation and dimensions:
Ground Floor Shop: 95 sq m (1,022 sq ft)
Open plan retail, store, office, wc

Tenancy:
The property is at present let to Kamcot Cleaning Services Limited (with personal guarantee) for a term of 5 years from 1st September 2026 at a current rent of £8,400 p.a. and the lease contains full repairing and insuring covenants. Rent review on 3rd anniversary linked to RPI. No breaks. Lease renewal. Tenant in occupation since 2024.

Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.

Location:
Alford is a market town in the East Lindsey district of Lincolnshire, situated on the edge of the Lincolnshire Wolds between Mablethorpe, Louth, Spilsby and Skegness and acts as a local retail centre. The town lies on the A1104 some 7 miles south of Mablethorpe and 30 miles east of Lincoln, and benefits from easy access to the A16 and the A158. The property is situated in the heart of town on the west side of Market Place, close to its junction with West Street (A110), opposite public car parking. Occupiers close by include The Post Office, and Co-op Food Store, amongst many other local businesses.