Location...

The picturesque market town of Louth has a population of approximately 20,000 residents and is located in the East Lindsey District of Lincolnshire on the edge of the Lincolnshire Wolds.

The town has a good range of local facilities including a strong retail offering, sporting facilities and well-regarded schools, nature parks, 2 golf courses.

The property is located in the centre of the town off Upgate with a return frontage to Butcher Lane off Corn Market.

Accommodation...

An arcade entrance leads to the main glazed retail area which is open plan having return frontage.

Stairs lead to the first floor where there are offices, breakout area and ancillary accommodation.

Office……………………………………………7.8m x 4.4m, 34.2m2

Kitchenette………………...……………………..1.9m x 4.7m, 9m2

WC which are appended to the ground floor shop.

A separate doorway leads to an impressive staircase giving access to the second-floor apartment, having 2 bedrooms, reception room, modern bathroom and kitchen.

Bathroom

Lounge…………………………………….…..5.7m x 4.1m, 23.4 m2

Kitchen……………………………………………2.4m x 2.5m, 6.3m2

Bedroom No. 1…………………….….…....3.7m x 3.1m, 11.5m2

Bedroom No. 2……………………..…………2.9m x 3.2m, 9.3m2

Schedule of Accommodation...

GIFA

Ground Floor

Main Sales Area

49.1m2

530ft2

Circulation Area

8.5m2

90ft2

First Floor

50m2

540ft2

Second Floor Apt.

62m2

665ft2

Total

170m2

1,825ft2

Tenure...

The ground and first floors are subject to a 10-year lease dated 31st October 2022 to J & M Nails and Spa Ltd at £12,000 pa.

The landlord has reserved the rights to charge the tenant an annual insurance rent with the lease being excluded from the provisions of the Landlord and Tenant Act 1954 Part 2.

There is a tenant only break clause dated 31 October 2027 with more than 6 months written notice. Review dates are 31st October 2025, 2028 and 2031.

The apartment has just been refurbished and has an estimated retail value of around £600/calendar month.

Outgoings...

15 Mercer Row has a Rateable Value of £13,000. The first floor is Council Tax Band A.

EPC...

15a Mercer Row has an Energy Performance Asset Rating E48. Full details are available on request.

Viewing...

All viewings are to be made by appointment through the agent.

Poyntons Consultancy.

Run by a Chartered Surveyor with over 20 years experience, James Fairman has a wealth of resources to draw upon. The business has clients all over the UK. James has previously managed departments for Savills, Brown & Co. Pygott and Crone and Thomas Balderston & Co. James gained a degree in Building Surveying from Sheffield Hallam before gaining experience in the fields of Agency, Building Surveying and General Practice. He has also been the chief instigator on a number of development projects in the fields of residential, commercial, industrial, retail and healthcare development, now successfully completed. As a Registered Valuer James advises a number of pension funds with regards to new acquisitions and ongoing management. Independently-owned and independently-minded, not afraid to give honest advice.

No longer on the market

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