Mixed Freehold investment – Loughborough LE11 1UD

For Sale £550,000

• LOCATION

• This mixed use Investment is located just off the main pedestrianised town centre of Loughborough.
  
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• The town has a population in the region of 60,000 making it the largest settlement outside of the County capital of Leicester. The Town lies on the A6 and is approximately midway between Leicester and Nottingham. Loughborough is home to Loughborough university, an excellent facility that boasts one of the largest sports scholarship schemes in the UK. Good road and rail links to surrounding towns and cities, with the M1, M42 and M69 / M6 all within a 20-mile radius and direct rail access to St Pancras station.

• DESCRIPTION

• 16 & 17 Churchgate comprise 2 properties - one 2 storey and one 3 storey property, with commercial units on the ground floor and 4 residential units on the first and second floors.
  
• The properties are brick built and under pitched tiled roofs.
  
• (P&F commercial have not inspected the residential accommodation)

• ACCOMMODATION

• 16 Churchgate - Commercial space (763 sq ft)- Let to Absolute Finesse - £11k per annum - Holding over currently
  
• 17 Churchgate - Commercial space (340 sq ft) - Let to The Gate Barbers - £7,500 per annum - Holding over currently
  
• Both commercial tenants are due to sign new 6-year lease terms with 3-year breaks in March 2023. These will be on internal repairing and insuring leases. No. 17 has benefitted from a new roof in the last 3 years.
  
• Residential income: -
  
• Flat 16a Churchgate - £476.66 pcm
  
• Flat 16b Churchgate - £433.33 pcm
  
• Flat 16c Churchgate - £466.66 pcm
  
• Flat 4 16 Churchgate - £866.68 pcm
  
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• SERVICES

• We are advised that all main services are connected to the property. These services have not been inspected or tested by the agent.

• TERMS

• For Sale freehold - Subject to tenants - leases available upon request.

• OUTGOINGS

• Commercial unit 16 - £9900 per annum rateable value
  
• Commercial unit 17 - £6700 per annum rateable value
  
• All tenants are responsible for rates payable.

• VAT

• The property maybe opted to tax and VAT may apply to the purchase price. To be confirmed by the sellers accountant in due course.
  

• LEGAL COSTS

• Both Parties will be responsible for their own legal costs.

• OTHER

• Finance may be available through Independent Financial Brokers and P & F Commercial would be pleased to make an introduction for you. The Brokers are completely Independent and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details.

• VIEWING

• Strictly by prior appointment via the sole agents P & F Commercial Tel: 01664 431330 or via email office@pandfcommercial.com