11 - 11C Market Place, Tattershall, Lincoln, Lincolnshire, LN4 4LQ

Investment property comprising a Ground Floor Restaurant/Takeaway Unit

3 residential dwellings

Whole property currently let achieving a rent of £51,400 per annum

Net Initial Yield of 7.52%.

Takeaway Unit let until February 2034 on full FRI with no break clauses

Rent review in 2029

Detailed Description

The property comprises a Ground Floor Takeaway Premises let to Domino`s Pizza in addition to 3 residential dwellings (1 x 1 Bed Flat, 1 x 2Bed Flat and a 3 Bed End Terrace House).

The property benefits from a communal Yard at the rear and customer seating area to the front.

We have been advised that the whole property is currently let and achieving a rent of £51,400 per annum on the following lease terms:

The Ground Floor Takeaway is at present let to DP Realty Limited for a term of 10 Years on an effective full repairing and insuring basis from 2nd February 2024 at a rent of £25,000 per annum.

There is an upward only rent review in February 2029. Flat 11A is let on a Periodic Tenancy at a rent of £9,000 per annum.

Flat 11B is let on a Periodic Tenancy at a rent of £7,800 per annum.
Number 11C is let on a Periodic Tenancy at a rent of £9,600 per annum.

Location

The property is centrally situated within the popular Village of Tattershall, enjoying easy access to a range of local amenities, Schools, Shops and Leisure facilities. The Village is renowned for the historic Tattershall Castle and is well positioned for access to the wider Lincolnshire area. Woodhall Spa lies approximately 8 miles to the West, Horncastle approximately 8 miles to the NorthEast, and Boston approximately 15 miles to the South-East, offering a broader range of Shopping, Dining and Professional Services.