Summary - 124, EASTGATE LN11 9AA
1 bed 1 bath Shop
**Standout Features:**
- Prime town center location with high footfall
- Generating a strong rental income of £85,000 per annum exclusive
- Expansive 10,000 sq.ft. split between retail space, stock room, and office
- Rear staff parking and delivery yard
- Freehold tenure with 5 years remaining on the current lease; tenant has a break clause after year 5
**Potential Concerns:**
- **Mortgage Lending:** Property may be difficult to finance due to the remaining lease term
- **Crime Rate:** Higher than average crime in the local area
- **Broadband Speeds:** Limited connectivity could impact business operations
- **Main Structure Condition:** Solid brick construction without noted insulation
**Summary:**
This large commercial property in Eastgate, Louth represents a prime investment opportunity in a bustling market town. Covering approximately 10,000 sq.ft., it features a retail space with an impressive shopfront, complemented by a first-floor stock room and office. The property is currently let under a 10-year FRI lease, providing stable income with a competitive rental of £85,000 per annum exclusive, making it a sound choice for investors seeking steady returns. Backed by essential amenities within walking distance and favorable foot traffic, it stands to benefit from the vibrant local community known for its independent shops and services.
However, prospective buyers should consider the property’s lease duration—only five years remain before the tenant has the option to break the lease. This may pose challenges for mortgage financing due to lender restrictions on shorter lease lengths. Additionally, while the location allows for easy access to necessary services in Louth, the area's higher-than-average crime rate and slow broadband speeds should be contemplated when considering potential operational impacts. With a freehold title and room for future renovations, this property is an exclusive chance to invest in a key commercial location. Don’t miss the opportunity to secure a prominent asset in a growing area that appeals to a diverse clientele.
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