Market Street, Long Sutton, Spalding

Investment Opportunity - Freehold.
Yield of 11.5% based on Annual Rent of £52,000.
Long FRI LTA '54 Lease in Place with quality Tenants.
Tenancy in Personal Names rather than Limited Company.

Property Description - Imposing kerb side business on the very busy Market Street, brick built construction with buttermilk coloured painted render under a tiled roof.
Double glazed throughout. 6 X Letting Bedrooms all of which are en-suite andre beautifully presented having been refurbished to the owners exacting standards.

The Business - The Granary has been owned by the current Freeholder for over 12 years and was run by him for 5 years where weekly turnover regularly exceeded £20,000 p/week.
It now returns an income of £52,000 per year in Rent.
The desire, is to sell the freehold of this structurally sound and very well maintained building, complete with Landlord and Tennant Act 1954 Lease to an Investor.

Location & Area - Located in Long Sutton with a population of circa 10,000 and has been thought of one of the richest areas of Lincolnshire. Through geography the population within a 15 minute drive could be in the 100,000 bracket and due to the nature of the surrounding areas it is commonplace to travel for quality entertainment, food and drink. Letting accommodation is minimal, which makes occupancy rates high for the available letting bedrooms. The affluence of the local area is complimented by the constant tourist traffic trade being the gateway to North Norfolk, and those who come for Bird Watching, Walking and Country Pursuits. Even Dick Turpin lived her for a time under the name of John Palmer (or Parmen). It is also home to a thriving Antiques trade, weekly market and produce auction.

Owners Accommodation - There is no associated owners accommodation with this business which makes it the ideal turn key business.

Price & Tenure - Offers in the region of £450,000 will be considered for the Freehold "Bricks and Mortar" sale of this building.

Epc - An EPC is in place and will be circulated along with the Heads of Terms.

Viewings - Strictly by appointment with the vendors sole selling agents. Tel: 01780 435072 Email [email protected] You are recommended to contact us in the first instance prior to visiting the property even for an informal viewing.