The investment opportunity comprises two ground floor shop units which are both let to strong local businesses, generating a combined income of £14,600 per annum, soon to be increasing to £15,100 per annum in October of this year. In addition to the retail units, the building has self-contained first floor office space which would be suitable for conversion into two, one bedroom flats subject to planning permission. The investment opportunity is currently on the market for offers in excess of £300,000.
Julian Welch, Director at Barker Storey Matthews commented, "Freeholds of this nature rarely become available within Market Deeping. It is a sought after and growing market town, and the subject property represents a fantastic investment for a private investor or small property company."
He added, "whilst the first floor offices have just become vacant, and could of course be re-let to a new tenant, it is our view that the upper parts lend themselves very well to a conversion into two residential flats. This will enable any new owner to drive further income from the investment either by letting out the flats, or by selling them on long leases".
For further information or to arrange a viewing contact Julian Welch at Barker Storey Matthews on 01733 897722.