Summary - 119, EASTGATE LN11 9QE
1 bed 1 bath Commercial Property
**Standout Features:**
- **Location:** Prominent town center position in Louth, a quaint market town.
- **Current Usage:** Let to an established menswear retailer with a lease earning approximately £13,000 per year.
- **Size:** Total area of 1,230 square feet with ground and first-floor spaces.
- **Local Amenities:** Close proximity to various shops, banks, and services, including independent retailers and major supermarkets.
- **Investment Potential:** Freehold property with a short remaining lease, expected to attract investors.
**Potential Concerns:**
- **Lease Duration:** Only 1 year left on the lease may limit mortgage options for prospective buyers.
- **Local Crime Rate:** Slightly above average crime statistics in the area.
- **Condition:** Built in the early 20th century, the property lacks insulation and relies solely on electric heating.
Located in the bustling center of Louth, this commercial property offers a golden opportunity for investors seeking established retail space in a vibrant market town. Currently leased to a charming menswear shop, this brick-fronted gem benefits from significant foot traffic among the thriving local market. The property includes spacious ground floor retail and first-floor storage, providing versatility for future business needs or potential expansion.
While the area boasts a rich mix of local independent shops alongside well-known banks and supermarkets, it’s important to note that the remaining one-year lease may pose challenges for financing. Furthermore, the property’s age may require modern updates. However, with Louth’s strong community feel and an attractive rental income of £13,000 per annum, this could be an enticing proposition for savvy investors looking to make their mark in a desirable location. Don’t miss out on this unique chance to secure a piece of Louth's commercial landscape!
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