- Retail Unit spread over 3 floors, first floor 2 bedroom flat and car park
- Car park to the rear for approximately 14 cars
- Potential for redevelopment, subject to the necessary planning consents
- Prominent Town Centre Location
RETAIL SHOP, 2 BEDROOM FLAT AND CAR PARK - FOR SALE
POTENTIAL DEVELOPMENT OPPORTUNITY
GUIDE PRICE £300,000 FREEHOLD
About this property
Detailed Description
The property is a Grade II listed, mid-terraced Retail Unit spread over three floors together with a first-floor 2-bedroom flat and car park to the rear.
The Retail Unit comprises of a sales area, kitchen, 3 stores and WC's on the ground floor. The first and second floors comprises of 2 stores and a showroom.
The first floor flat (12A Mercer Row) has its own access from the car park and comprises of 2 bedrooms, kitchen, lounge & bathroom/WC. Externally the property has a car park the rear for approximately 14 cars and an additional store accessed through a roller shutter door. 9 parking spaces are currently let on verbal agreements producing a rental income of £3,240 per annum. The car park has the potential for redevelopment, subject to necessary planning consents and accessed through Kidgate Mews to the South of the property
Location
Louth is a popular Market Town located in the East Lindsey district in Lincolnshire, approximately 14 miles South of Grimsby and 24 miles North East of Lincoln and on the edge of the Lincolnshire Wolds.
The subject property is situated in the centre of the Town in an excellent trading location. Neighbours include Lloyds Bank, Boots and Cafe Nero.
Accommodation
In Terms of Net Internal Area, the various elements of the property comprise as follows:
DESCRITPION - RETAIL SHOP SQ M SQ FT
Ground floor - Sales Area 163.6 1,761
Ground floor - Kitchen 2.7 29
Ground Floor - Stores 31.4 338
Ground Floor - WC's - -
First Floor - Store/Showroom 80.7 869
Second Floor - Store 73.3 789
TOTAL (NIA) 351.7 3,78
DESCRITPION - 2 BED FLAT SQ M SQ FT
First Floor - Lounge 27.0 291
First Floor - Bed 1 7 75
First Floor - Bed 2 12.1 130
First Floor - Kitchen 7.5 81
First Floor - Bathroom/WC 4.0 43
TOTAL (NIA) 57.6 620
Business Rates
The various elements of the property are assessed as follows under the 2023 Rating List and Council Tax Register:
12 Mercer Row (shop) is assessed as a Shop & Premises with a Rateable Value of £22,500.
12a Mercer Row (First Floor Flat) - Council Tax Band A.
Prospective purchasers should check the level of Business Rates and Council Tax payable in respect of each element of the property via East Lindsey District Council. Tel: 01507 601111
Services
We understand that the property is connected to mains electricity, water and drainage.
None of the services or appliances that are believed to be connected or available to the properties have been tested by Brown & Co and prospective purchasers are advised to check upon the adequacy and provision of services and utilities with the relevant Statutory Authorities prior to making an offer to purchase these properties.
Viewing
For further information or to arrange a viewing please contact the
Sole Selling Agents:
Brown&Co LLP Will Gaunt
5 Oakwood Road, 01522 504322
Doddington Road, 07919 694235
Lincoln, LN6 3LH william.gaunt@brown-co.com
01522 457800
VAT
We understand that the property is not elected for VAT and therefore VAT will not be payable upon any sale price negotiated, however, prospective purchasers are advised to clarify the VAT position prior to making an offer to purchase the property.
Legal Costs
Each party is to be responsible for their own legal costs incurred in respect of any transaction negotiated.
Other
EPC'S
12 Mercer Row (Shop) has an EPC rating of B47 that expires on the TBC.
12a Mercer Row (First Floor Flat) has an EPC rating of E50 which expires on the 9th July 2030.
DISCLOSURE
A member of Brown & Co is related to the Seller.
To arrange a viewing contact


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