Retail premises for sale in Knowles Street, Mablethorpe LN12

The subject property is located close to the resorts main shopping, tourist facilities and sea front situated on a prominent corner position of Knowles Street and Victoria Road within a mixed-use location.

The seaside town is within the East Lindsey district of Lincolnshire and has a population of approximately 12,500 but is by far the most popular resort in the area with seasonal visitors and locals throughout the year. Mablethorpe boasts beautiful sandy beaches and excellent family facilities.

The property incorporates a well maintained and substantial corner dwelling with the ground floor being two retail premises, one on the corner of Victoria Road/Knowles Street and a second next door on Knowles Street with a separate side entrance on Victoria Road (40A) leading to a first floor two-bedroom maisonette set over two floors. The shop at 2 Knowles Street is let on a rolling tenancy with a rental income currently of £4,320 per annum. The shop at 2A Knowles Street is let on a 5-year Fri lease commencing Sept 2023 with a rental income of £4,416 per annum. The maisonette is currently vacant but has a potential income of £6,600 per annum once fully let.

The approximate accommodation comprises:
Ground Floor
2 Knowles Street 2A Knowles Street
Shop Area Approx 24.0 sq. M. (259 sq. Ft). Total Area Approx 28.1 sq. M. (303 sq. Ft.)
Storage Area Approx 11.8 sq. M. (127 sq. Ft). WC

WC

First Floor Residential Accommodation
First Floor Second Floor
Lounge Kitchen & Bathroom Two Bedrooms

Price
The property is available at an asking price of £285,000 ono.

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