23, High Street, HORNCASTLE, Lincolnshire, LN9 5HP

Description

Mixed use property Commercial to the ground floor & 2 residential flats above Potential combined rental income of approximately £28,000pa Description A mixed-use property comprising a commercial premises to the ground floor and 2 residential flats above. Currently, the commercial premises and one of the flats is vacant, with the second flat being currently tenanted and achieving £600pcm. The ground floor has most recently been used as a barber shop and hair salon. Horncastle is a market town located in East Lindsey, a district of Lincolnshire. The town has a range of shops and amenities, boasting businesses such as Costa Coffee, Tesco, Co-Op and smaller independent businesses. The ground floor space measures approximately 88sqm (information taken from the EPC), offering a spacious unit suitable for a number of potential uses, subject to any necessary permissions/consents. Occupying a prime position in the town centre, this represents a very good investment opportunity with the ability

Location

Property located at 23, High Street, HORNCASTLE, Lincolnshire, LN9 5HP.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £5,000–£15,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

The auctioneer-published rent identified in the source is approximately £28,000 per annum.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Verify tenancy documents, rent history and deposit compliance

Recommendation

Preferred strategy: Commercial Income Investment. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Commercial Income: ★★★★☆

Development: ★★☆☆☆

Flip: ★★☆☆☆