Mercer Row, Louth

Investment property for sale in prime town centre location including ground floor let to cafe and 2 self-contained flats let on ASTs.

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 banks and national retailers including Boots the Chemist, WH Smith, Millets etc. There are 3 supermarkets in the town, being a Co-operative, Morrison’s and Aldi.

Accommodation -

Ground Floor -

Restaurant/Cafe Area - 4.53 max x 6.80 (14'10" max x 22'3") -

Lobby Off -

Toilet - With low flush wc and wash basin.

Preparation Room - 3.20 x 2.77 (10'5" x 9'1") -

Kitchen - 2.98 x 2.79 (9'9" x 9'1") -

Rear Passageway - With access to side yard.

Ground Floor Common Entrance - With staircase leading to:

First Floor -

Landing -

Flat 1 -

Living/Kitchen - 4.70 x 4.73 (15'5" x 15'6") -

Internal Hallway To; -

Shower Room - With shower, wash basin, low suite wc.

Bedroom - 3.10 x 2.70 average (10'2" x 8'10" average) -

Staircase To; -

Second Floor -

Flat 2 -

Lounge - 3.19 x 2.03 + 2.22 x 2.64 (10'5" x 6'7" + 7'3" x 8 -

Kitchen - 1.52 max x 2.85 max (4'11" max x 9'4" max) -

Bathroom - With suite comprising panelled bath with shower, wash basin and wc.

Outside - The property has a small rear yard for bin storage.

Access to the rear of the café and the two flats is over a shared passageway which runs between numbers 9 and 11 Mercer Row.

Tenancies - The cafe is under lease commencing 1st September 2023 on an annual contract at a rent of £700.00 pcm.

Flat 1 is under an AST at a rent of £380.00 pcm
Flat 2 is under an AST at a rent of £380.00 pcm

Rateable Value - Enquiry of the VOA website indicates:-
Description - Restaurant and premises
Rateable Value - £6,200
Rating Authority - East Lindsey District Council.

Epc Assessments - CAFE - E (109) valid until 11 February 2028
FLAT 1 - E (39) valid until 17 August 2030
FLAT 2 - E (50) valid until 17 August 2030

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

Tenure - The property is believed to be freehold and we await solicitors confirmation.

Legal Costs - Each party will be responsible for their own legal fees in relation to the sale.

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

Opening Hours - Monday to Friday 9:00am to 5:00pm
Saturday 9:00am to 1:00pm

Viewings - By prior appointment through TES Property office in Louth admin.