Retail premises for sale in Victoria Road, Mablethorpe LN12

The subject property is located close to the resorts main shopping, tourist facilities and sea front on the busy, mixed-use location of Victoria Road, accessed from the High Street within the popular seaside location of Mablethorpe.
The seaside town within East Lindsey district of Lincolnshire has a population of approximately 12,500 but is by far the most popular in the area with seasonal visitors and locals throughout the year, boasting beautiful, sandy beaches and excellent family facilities.

The property incorporates a well maintained and substantial end-terrace dwelling with retail premises to the ground floor with store/kitchen to the rear of the shop. Offering side access to a one-bedroom ground floor flat which has been previously let through . Separate access to the first floor which has a self-contained two-bedroom flat let on an AST achieving £5,500 per annum.

Ground Floor
Shop Area Approx. 31.4 sq. M (338 sq. Ft)
Rear Store/Kitchen Approx. 10.9 sq. M (118 sq. Ft)
Lobby & WC Approx. 2.7 sq. M (30 sq. Ft)

Residential accommodation (Separate Access)
Ground Floor
Living/Bedroom, kitchen, and bathroom.

First Floor
Lounge, two bedrooms, kitchen, and bathroom.

Rear garden giving separate access to the flats.

The property when fully let will give a yield in excess of 11.5%.

The property is available with an asking price of £175,000.

We are advised that the property is Freehold.

Each party will be reasonable for their own legal costs incurred in this transaction together with any stamp duty and land tax that may apply.

We are verbally advised by East Lindsey Council that the Rateable Value is £4,450 under the current assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change and the rates payable can vary due to changes in transitional relief.