Summary - Flat A, 63, Eastgate, LOUTH LN11 9PL
1 bed 1 bath Shop
Established shop plus five flats in a prominent historic Eastgate location..
Long-established fruit & veg business trading since 1878 included as going concern
Five tenanted flats plus ground-floor shop; immediate rental income
Residential income c. £22,960 pa; potential gross income c. £40,000 pa
Grade II listed — alterations restricted, potential higher repair costs
Shop EPC B; flats EPCs E — likely need energy upgrades
Rear vehicular access, parking and garage included
Located in busy town-centre Eastgate position with high footfall
Area classified as deprived; local crime above average
A rare town-centre investment anchored by a long-established independent retail business. The Grade II listed building on Eastgate includes a prominent ground-floor shop (Stevensons Fruit & Veg, trading since 1878) plus five self-contained flats, delivering immediate rental income and strong local visibility. The shop has air-conditioning, generous depth and useful stores including a cold store.
The residential accommodation currently generates approximately £22,960 pa; including the commercial element the potential gross income is about £40,000 pa. Flats are let on ASTs and provide a mix of studios, one- and two-bedroom units suited to single occupiers or small households. Shop EPC B; flats EPCs E.
Important considerations: the property is Grade II listed which will restrict alterations and may increase repair / compliance costs. Several flats have low EPC ratings and the asset sits in a deprived area with above-average local crime statistics. Vehicular access, rear parking and a garage are practical benefits for town-centre use and servicing.
This opportunity suits an investor or owner-operator seeking an established trading business plus multi-let residential income in a busy market town. Buyers should allow for listed-building constraints, potential energy-efficiency upgrades, and routine maintenance costs when modelling returns.
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