14A Market Pl
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14A Market Pl
1,069 SF 13% Leased Retail Building Alford LN13 9EB £150,000 (£140/SF) 8.47% Net Initial Yield
Executive Summary
Investment Consideration:
Gross Initial Yield: 8.47%
Rental Income: £12,700 p.a.
VAT is applicable to this property
Comprises ground floor shop and self-contained residential flat at first floor
The residential accommodation is accessed from the left side of the retail unit
Occupiers close by include Post Office and Co-op Food, amongst others.
Property Description:
Comprises large ground floor retail premises with self-contained residential flat at first floor, providing the following accommodation and dimensions:
Ground Floor Shop: 95 sq m (1,022 sq ft)
Open plan retail, store, office, wc
First Floor Flat: 42 sq m (452 sq ft)
2 Bedrooms, kitchen, living room, bathroom
Total area size: 137 sq m (1,474 sq ft)
Tenancy:
The retail shop is at present let to CCS-Clifford Contract Services Limited for a term of 5 years from 30th April 2024 at a current rent of £7,000 p.a. and the lease contains internal repairing and insuring covenants.
The residential flat is at present let on AST to an Individual for a term of 6 months from 8th September 2022 (holding over) at a current rent of £5,700 p.a. Deposit held of £545.
Location:
Alford is a market town in the East Lindsey district of Lincolnshire, situated on the edge of the Lincolnshire Wolds between Mablethorpe, Louth, Spilsby and Skegness and acts as a local retail centre. The town lies on the A1104 some 7 miles south of Mablethorpe and 30 miles east of Lincoln, and benefits from easy access to the A16 and the A158. The property is situated in the heart of town on the west side of Market Place, close to its junction with West Street (A110), opposite public car parking. Occupiers close by include The Post Office, and Co-op Food Store, amongst many other local businesses.
Gross Initial Yield: 8.47%
Rental Income: £12,700 p.a.
VAT is applicable to this property
Comprises ground floor shop and self-contained residential flat at first floor
The residential accommodation is accessed from the left side of the retail unit
Occupiers close by include Post Office and Co-op Food, amongst others.
Property Description:
Comprises large ground floor retail premises with self-contained residential flat at first floor, providing the following accommodation and dimensions:
Ground Floor Shop: 95 sq m (1,022 sq ft)
Open plan retail, store, office, wc
First Floor Flat: 42 sq m (452 sq ft)
2 Bedrooms, kitchen, living room, bathroom
Total area size: 137 sq m (1,474 sq ft)
Tenancy:
The retail shop is at present let to CCS-Clifford Contract Services Limited for a term of 5 years from 30th April 2024 at a current rent of £7,000 p.a. and the lease contains internal repairing and insuring covenants.
The residential flat is at present let on AST to an Individual for a term of 6 months from 8th September 2022 (holding over) at a current rent of £5,700 p.a. Deposit held of £545.
Location:
Alford is a market town in the East Lindsey district of Lincolnshire, situated on the edge of the Lincolnshire Wolds between Mablethorpe, Louth, Spilsby and Skegness and acts as a local retail centre. The town lies on the A1104 some 7 miles south of Mablethorpe and 30 miles east of Lincoln, and benefits from easy access to the A16 and the A158. The property is situated in the heart of town on the west side of Market Place, close to its junction with West Street (A110), opposite public car parking. Occupiers close by include The Post Office, and Co-op Food Store, amongst many other local businesses.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,069 SF
Building Class
B
Year Built
1858
Price
£150,000
Price Per SF
£140
Net Initial Yield
8.47%
NOI
£12,700
Percent Leased
13%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.91
Land Acres
0.03 AC
Frontage
28 ft on Market Place
Amenities
- EPC - D
- Storage Space
Space Availability
- Space
- Size
- Space Use
- Position
- Available
The unit comprises 929 square feet of retail space on the ground floor. Internally the shop contains a main shop area with office/store, wc, a rear store and a small store.
| Space | Size | Space Use | Position | Available |
| 14A | 929 SF | Retail | In-Line | Now |
14A
| Size |
| 929 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
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14A
| Size | 929 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
The unit comprises 929 square feet of retail space on the ground floor. Internally the shop contains a main shop area with office/store, wc, a rear store and a small store.
1 of 1
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Joseph Bachman -
Blue Alpine Partners Ltd
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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14A Market Pl
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