For SaleINVESTMENT

52, Upgate, Louth, Lincolnshire, LN11 9EX

Description

The ground floor self-contained retail lock up comprises ground floor retail sales area, rear sales, store and external WC.

The upper floor comprises an attractive self-contained 1-bed flat accessed via the rear yard.

location

The ground floor retail premises occupies a prominent position fronting Upgate, one of Louth’s busiest town centre thoroughfares. The town has an excellent retail offering with a strong mix of independent and national operartors, providing essential services for a large rural catchment.

The town sits close to the Lincolnshire Wolds, an Area of Outstanding National Beauty and has a population of circa 17,000 people as well as a large affluent rural catchment.

Set within the Conservation Area, the property provides excellent access to Louth town centre with its amenities and transport links.

There are many schools and education establishments throughout Louth, including the prestigous King Edward VI Grammar School.

services

We understand that mains supplies are available and connected to the property. These have not been tested and interested parties are advised to make their own investigations to the relevant utility service providers.

town and country planning

We understand that the ground floor retail unit has an established use falling within Class A1 (Shop) and the first floor flat within Class C3 (Housing/Dwellings) of the Town and Country Planning (Use Classes) Order 1987 (as amended).

tenure

The property will be sold with vacant possession of the ground floor retail premises.

The first floor apartment is currently let on an Assured Shorthold Tenancy at a passing rent of £4,080 per annum. There will be a review of the rent in August 2020 with an estimated increase to £4,380.

We understand that it is the tenant’s wish to remain in occupation if possible.

vat

VAT may be charged in addition to the purchase price at the prevailing rate.

legal costs

Each party is to be responsible for their own legal costs incurred in documenting the transaction.