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    Key features

    • To be offered on Tuesday 25 November
    • HIgh Yielding Mixed-Use Investment
    • Retail Unit and Residential Upper Parts
    • Fully Let to Two Tenants
    • Ground Floor Retail Let - Expiring 29.04.2029
    • Two Bed Flat to Upper Parts - Let on AST
    • 1,474 sq ft (137 sq m)
    • Prominent High Footfall Pitch
    • Investment Let at £13,600 p.a. (11.82% GIY on Guide Price)

    Description

    The property comprises a high yielding mixed-use investment opportunity located in an affluent market town.

    Arranged as a ground floor retail unit with a two bedroom flat to the upper parts, the property is fully let to two tenants producing a total rent of £13,600 per annum.

    The ground floor retail unit is let to CCS-Clifford Contract Services Limited on a five year lease with no breaks expiring 29.04.2029 and paying £7,000 per annum.

    The residential upper parts are let to a private individual on an Assured Shorthold Tenancy (AST) expiring 08.11.2026 and paying £6,600.

    The property occupies a prominent pitch fronting Market Place and forms part of the principal retail amenity of Alford. The surrounding area is characterised by similar mixed uses with a number of local and national occupiers including the Post Office and Coop, with a Premier Convenience Store immediately adjacent.

    Additional information

    Tenure

    Freehold

    Tenancy

    The ground floor retail unit is let to CCS-Clifford Contract Services Limited on a five year lease with no breaks expiring 29.04.2029 and paying £7,000 per annum.


    The residential upper parts are let to a private individual on an Assured Shorthold Tenancy (AST) expiring 08.11.2026 and paying £6,600.


    The AST includes a tenants break option anytime after six months (two month notice). We understand a deposit of £545 is held.

    Rent

    £13,600 per annum

    Notes

    We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).


    Joint Auctioneer


    Joseph Bachman

    07723 619 270

    joseph@bluealpine.com

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      Local information

      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.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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