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Queen Street, Market RasenA1 - High Street, Refurbishment Opportunities, Residential, Commercial

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About this property

The property is located centrally within the busy Market Town of Market Rasen and Queen Street is the main retail street running through the town with neighbouring occupiers including Boots The Chemist.

We are pleased to offer for sale this substantial Freehold Property conveniently located on Queen Street, within Market Rasen Town Centre and offered for sale with full Vacant Possession, previously generating an income stream of circa. £40,000 per annum, comprising two self-contained retail units at ground floor level and four previously refurbished flats at first and second floor level.

The property comprises two self-contained retail units at ground floor level, whilst at first and second floor, there are four independent flats, all accessed via a shared entrance lobby. The flats have been previously refurbished and are generously proportioned to include modern open-plan living room/kitchens, two bedrooms and modern bathrooms/WC. The larger of the four flats also has the benefit of an en-suite shower room/WC.

Despite having previously been refurbished, the flats do now require further cosmetic improvement.

Mains drainage, gas, electricity and water are connected.

The two retail units are fully self-contained, whereas the four flats were refurbished to provide for shared gas central heating systems, although these now require replacement.

EPC Ratings:
6 Queen Street – C
6A Queen Street – D
Flat 1 – Floor Floor – B(81)
Flat 2 – First Floor – B(85)
Flat 3 – Top Floor – C(76)
Flat 4 – Top Floor – C(80)

The property is available for sale on a Freehold basis with Vacant Possession. Flat 1 & 2 are on Long Leasehold Titles and all Titles are included within the sale.

6 Queen Street, Market Rasen – £7,400
6A Queen Street, Market Rasen – £4,650

Small Business Multiplier (2020/2021) 49.9p in the £.
The property may qualify for small business rates relief.

Prospective tenants should make their own enquiries regarding Small Business Rates Relief.

VAT is not applicable.

Each party are responsible for their own legal costs.

Via prior appointment with Mundys Commercial