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1 bed investment for sale

Waterloo Street, Market Rasen, LN8
Guide price

£70,000

Interested in this property? Call us on 01673 843011

Property features

  • 2 Storey Commercial Property
  • Town Centre Location
  • Ground Floor Retail Shop
  • Shop Requires Refurbishment
  • Spacious, Modern First Floor Flat
  • Flat is Tenanted

Property location

Property description

Summary
A two storey commercial property situated close to the town's high street and comprising a retail shop, spacious 1st floor flat with en suite.

The 1st floor flat is modern with contemporary kitchenette. The shop unit does require some refurbishment work but offers an ideal opportunity for an investor.
The above premises are being sold with current tenants in place.

Location:
The property is situated off Market Rasen's busy high street, which provides shopping and banking facilities, schooling to include De Aston Comprehensive School and a primary school, Lincolnshire's only racecourse, golf club and a railway link to mainline stations.
The port of Grimsby, the historic City of Lincoln, the Humber Bridge, Humberside International Airport and the M180 motorway link are within commuting distance.

Directions:
From the Agent's office turn left along Queen Street. Take the first left into George Street and the shop and flat can be found on the left hand side.

Shop Unit:
7 Waterloo Street

Shop Area: 26' x 12'10" (7.92m x 3.91m)
The shop has a timber front door leading to reception lobby area.

Fire door leading to shop unit area. Window to front elevation, power and light

Store Room: 18'4" x 15'8" (5.59m x 4.78m)
Having bricked up door to rear, two obscured windows to side, light void to ceiling, power and light.

FLAT:
7A Waterloo Street

Reception Lobby:
Having stairs to first floor landing

Landing:
Having mains smoke alarm, velux to ceiling and radiator

Sitting Room: 13'6" x 12'11" (4.11m x 3.94m)
Having two sash windows to front elevation, roof access, storage cupboard and radiator

leading to

Kitchenette: 12'11" x 5'11" (3.94m x 1.80m)
Having contemporary base, eye level and drawers, roll top work surfaces, tiled splash backs, stainless steel sink unit and drainer, integrated Lamona electric hob with chrome extractor hood above and oven below, fridge/freezer, plumbing and space for washing machine, vinyl flooring and consumer unit.

Bedroom: 12'11" x 12'1" (3.94m x 3.68m)
Having fitted wardrobe housing combi gas boiler, Velux to ceiling, sealed unit window to rear elevation and radiator.

En Suite Shower Room:
Having shower cubicle with fully tiled walls and Mira Sport electric shower unit, pedestal hand wash basin, extractor, radiator, vinyl flooring and sealed unit obscure window to rear elevation.

Cloakroom:
Having low level WC ,pedestal hand wash basin, tiled splash back, extractor and sealed unit obscure window to rear elevation.

Lease/Tenancies:
The properties are currently let

The Flat is let on an assured shorthold tenancy
1st Floor Flat - £400 pcm

Retail Shop/Store Room - £260pcm (The tenant has been in situ over 32 years).

Total £7,920 pa yield (11%)

Tenure:
The property is Freehold

Services:
The owner/occupier informed us that any services; or appliances (including central heating if fitted) referred to in this brochure operates satisfactorily, but they have not been checked. If a property is unoccupied at any time there may be reconnection charges for any switched off/disconnected or drained services or appliance.

Outgoings:
The Flat falls into Council Tax Band A payable to West Lindsey District Council, Guildhall, Marshalls Yard, Gainsborough DN21 2NA Tel: 01427 676676

The shop has at Rateable Value of £2,050 pa the current amount payable is £0

Fixtures & Fittings:
Only those items described within these sales particulars are included within the sale.

Brochure Details:
This brochure including photography was prepared by Perkins, George Mawer & Co. In accordance with the sellers instructions of April 2017

Viewing:
Strictly through the Selling Agents at their Market Rasen office. Tel: 01673 843011

Opening Hours:
Monday to Friday : 9 am to 5.00 pm - Saturday 9 am to 12.00 pm

Interested in this property? Call us on 01673 843011
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PERKINS GEORGE MAWER & CO

01673 843011

Weekdays: 9:00am - 5:00pm
Saturday: 9:00am – 12noon

Corn Exchange Chambers, Queen Street, Market Rasen LN8 3EH

info@perkinsgeorgemawer.co.uk

Chartered Valuation Surveyors & Estate Agents
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