Market Street, Long Sutton, Spalding
- PROPERTY TYPE
Pub
- BEDROOMS
6
- SIZE
2,000 sq ft
186 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
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Description
Yield of 11.5% based on Annual Rent of £52,000.
Long FRI LTA '54 Lease in Place with quality Tenants.
Tenancy in Personal Names rather than Limited Company.
Property Description - Imposing kerb side business on the very busy Market Street, brick built construction with buttermilk coloured painted render under a tiled roof.
Double glazed throughout. 6 X Letting Bedrooms all of which are en-suite andre beautifully presented having been refurbished to the owners exacting standards.
The Business - The Granary has been owned by the current Freeholder for over 12 years and was run by him for 5 years where weekly turnover regularly exceeded £20,000 p/week.
It now returns an income of £52,000 per year in Rent.
The desire, is to sell the freehold of this structurally sound and very well maintained building, complete with Landlord and Tennant Act 1954 Lease to an Investor.
Location & Area - Located in Long Sutton with a population of circa 10,000 and has been thought of one of the richest areas of Lincolnshire. Through geography the population within a 15 minute drive could be in the 100,000 bracket and due to the nature of the surrounding areas it is commonplace to travel for quality entertainment, food and drink. Letting accommodation is minimal, which makes occupancy rates high for the available letting bedrooms. The affluence of the local area is complimented by the constant tourist traffic trade being the gateway to North Norfolk, and those who come for Bird Watching, Walking and Country Pursuits. Even Dick Turpin lived her for a time under the name of John Palmer (or Parmen). It is also home to a thriving Antiques trade, weekly market and produce auction.
Owners Accommodation - There is no associated owners accommodation with this business which makes it the ideal turn key business.
Price & Tenure - Offers in the region of £450,000 will be considered for the Freehold "Bricks and Mortar" sale of this building.
Epc - An EPC is in place and will be circulated along with the Heads of Terms.
Viewings - Strictly by appointment with the vendors sole selling agents. Tel: 01780 435072 Email info@ksa-commercial.co.uk You are recommended to contact us in the first instance prior to visiting the property even for an informal viewing.
Brochures
Market Street, Long Sutton, SpaldingKSA Commercial- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
Market Street, Long Sutton, Spalding
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About LLH Solutions Limited, Oakham
Office 6, Suite 16, Oakham Enterprise Park, Ashwell Road, LE15 7TUYour mortgage
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Visit our security centre to find out moreDisclaimer - Property reference 28318428. 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 LLH Solutions Limited, Oakham. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call LLH Solutions Limited, Oakham on 01780 431569.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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