Sold STCSOLD STC | Freehold Mixed Use Investment Property Comprising Shop with Large Refurbished Apartment Over
Louth
15 Mercer Row | Louth | Lincolnshire | LN11 9JG
* Centrally Located and Prominent Grade II Listed Building
* Ground Floor Nail Bar with First Floor Offices Producing £12,000 pa
* Refurbished Second Floor Maisonette ERV Estimated £6,500 pa
Location…
The picturesque market town of Louth has a population of approximately 20,000 residents and is located in the East Lindsey District of Lincolnshire on the edge of the Lincolnshire Wolds.
The town has a good range of local facilities including a strong retail offering, sporting facilities and well-regarded schools, nature parks, 2 golf courses.
The property is located in the centre of the town off Upgate with a return frontage to Butcher Lane off Corn Market.
Accommodation…
An arcade entrance leads to the main glazed retail area which is open plan having return frontage.
Stairs lead to the first floor where there are offices, breakout area and ancillary accommodation.
Office……………………………………………7.8m x 4.4m, 34.2m2
Kitchenette………………………………………..1.9m x 4.7m, 9m2
WC which are appended to the ground floor shop.
A separate doorway leads to an impressive staircase giving access to the second-floor apartment, having 2 bedrooms, reception room, modern bathroom and kitchen.
Bathroom
Lounge…………………………………….…..5.7m x 4.1m, 23.4 m2
Kitchen……………………………………………2.4m x 2.5m, 6.3m2
Bedroom No. 1…………………….….…….3.7m x 3.1m, 11.5m2
Bedroom No. 2……………………..…………2.9m x 3.2m, 9.3m2
Schedule of Accommodation…
|
|
GIFA |
|
|
Ground Floor Main Sales Area |
49.1m2 |
530ft2 |
|
Circulation Area |
8.5m2 |
90ft2 |
|
First Floor |
50m2 |
540ft2 |
|
Second Floor Apt. |
62m2 |
665ft2 |
|
Total |
170m2 |
1,825ft2 |
Tenure…
The ground and first floors are subject to a 10-year lease dated 31st October 2022 to J & M Nails and Spa Ltd at £12,000 pa.
The landlord has reserved the rights to charge the tenant an annual insurance rent with the lease being excluded from the provisions of the Landlord and Tenant Act 1954 Part 2.
There is a tenant only break clause dated 31 October 2027 with more than 6 months written notice. Review dates are 31st October 2025, 2028 and 2031.
The apartment has just been refurbished and has an estimated retail value of around £600/calendar month.
Outgoings…
15 Mercer Row has a Rateable Value of £13,000. The first floor is Council Tax Band A.
EPC…
15a Mercer Row has an Energy Performance Asset Rating E48. Full details are available on request.
Viewing…
All viewings are to be made by appointment through the agent.
Poyntons Consultancy.
Property Details
- £185,000 Excluding VAT
- Mercer Row, Louth, LN11 9JG
15-Mercer-Row-Louth-Brochure.pdf