Eastgate, Louth

Town centre investment with long-established Stevensons Fruit & Veg shop and 5x flats, including the business as a going concern.

Overview - This Grade II listed property occupies a prominent position on Eastgate in the town centre of Louth and comprises a retail shop on the ground floor with five flats and is offered for sale due to retirement. The long-established business, Stevensons Fruit & Veg, founded in 1878, is available as a going concern. Serving the community for over 120 years, it is a mainstay of the town and the only remaining independent fruit and vegetable shop in Louth.

Location - Louth is a market town of approximately 17,000 people, famous for its thrice weekly market and cattle market. The town centre provides essential services for a large rural area and secondary schools, banks and shopping facilities. The town is famous for its sole proprietor independent retailers, including butchers, bakers and specialist clothing shops etc. In addition, the town accommodates the main High Street national retailers including Boots the Chemist, WH Smith, Millets etc. There are 3 supermarkets in the town, being a Co-Operative, Morrisons and Aldi.

The property is situated on Eastgate, in a well-established, high footfall area of the town centre with neighbouring occupiers include Argos, Superdrug and Heron.

Accommodation -

Shop - 4.695m max x 15.377m (15'4" max x 50'5") - With air-conditioning.

Wc X2 -

Stores - Various stores, including Cold Store, totalling approx. 104.87sq.m / 1,129sq.ft.

Flat A - 1 bedroomed flat under an AST at a rent of £350.00 per calendar month.

Flat B - 2 bedroomed flat under an AST at a rent of £450.00 per calendar month.

Flat C - 1 bedroomed flat under an AST at a rent of £260.00 per calendar month.

Flat D - 2 bedroomed flat under an AST at a rent of £400.00 per calendar month.

Flat E - Studio flat under an AST at a rent of £380.00 per calendar month.

Outside - The property benefits from vehicular access to the rear, with parking facilities and a garage.

Income - The residential flats currently achieve approximately £22,960 per annum exclusive. Including the commercial element, the potential gross annual rental income is approximately £40,000 per annum exclusive.

Rateable Value - Enquiry of the VOA website indicates:-
Description - Shop and premises
Rateable Value - £17,000
Rating Authority - East Lindsey District Council.

Council Tax Band - East Lindsey Council Tax Band - A

Epc Assessments - Shop - B, Flat A - E, Flat B - E, Flat C - E, Flat D- E, Flat E - E

Services - Mains services are understood to be available. The agents have not inspected or tested any of the services or service installations and tenants/purchasers should make their own enquiries.

Accounts - Accounts available on request following successful viewing.

Vat - Please note, all prices quoted may be subject to VAT unless stated otherwise.

Viewing - Strictly by appointment with the sole agents, TES Property.