56 Mill Street, Ludlow, Shropshire, SY8 1BB

Property Description

56 Mill Street is situated in the heart of historic Ludlow. Walk just a few yards and you reach Castle Square, renowned for its open air markets selling local produce and goods. Ludlow, one of England’s most sought-after Market Towns, is famed for its range of independent shops, cafes, and variety of pubs and restaurants. The nearby Assembly Rooms is a wonderful entertainment venue with live theatre, a cinema and many events throughout the year.

A Three Storey Grade II Listed building, an excellent investment opportunity with a potential income of just over £35,000 per annum. With Ground floor retail with basement and rear yard and three self-contained apartments.

At the top of Mill Street in a prime position.

Introduction
56 Mill Street is situated in the heart of historic Ludlow. Walk just a few yards and you reach Castle Square, renowned for its open air markets selling local produce and goods. Ludlow, one of England’s most sought-after Market Towns, is famed for its range of independent shops, cafes, and variety of pubs and restaurants. The nearby Assembly Rooms is a wonderful entertainment venue with live theatre, a cinema and many events throughout the year.

A Three Storey Grade II Listed building, an excellent investment opportunity with a potential income of just over £35,000 per annum. With Ground floor retail with basement and rear yard and three self-contained apartments.

At the top of Mill Street in a prime position.

GROUND FLOOR RETAIL
Approximately 50sq.m (538 sq.ft) The current tenants on the ground floor retail have a lease of 6 years from November 2023 with a break clause at each two yearly interval. The rent is £12,000 per annum.

The main entrance opens to

Main Retail Space
Excellent window frontage on to Mill Street (28 sq.m)

Rear Retail
With double doors opening to a small rear yard area.

Store Room

Kitchenette

Basement

Basement

THE APARTMENTS
With a separate entrance door and staircase rising to the first and second floors.

APARTMENT ONE
Apartment One is let on an Assured Shorthold Tenancy at £425 per calendar month. A door from the communal Landing opens to

Open Plan Kitchen/Living/Bedroom
A studio Apartment, light and airy with four windows to the front, a kitchen area with fitted units, integrated hob and inset sink unit.

Shower Room
Appointed with a suite of wc, wash basin and shower cubicle.

APARTMENT TWO-ROOFTOPS
Rooftops is a recently refurbished one bedroom first floor apartment, currently a successful holiday let. Potential income as an AST would be £700 per month.

Open Plan Living/Kitchen/Dining Room
A beautifully presented room, the kitchen area is appointed with a range of wall and base units with inset sik unit, integrated oven, hob and dishwasher. The Living area has ample space for a sofa and chair and the bay window, the perfect spot for a table and chairs.

Bedroom
A super room with double glazed skylight.

Shower Room
Appointed with a suite of wash basin and wc inset to vanity unit, large double walk in shower with fixed screen and wood effect flooring. Double glazed skylight.

APARTMENT THREE - ASSEMBLY VIEW
Assembly View is a recently refubished two bedroom second floor apartment. Currently a successful holiday let. Potential income as an AST would be £800 per month.

Open Plan Living/Dining/Kitchen
A lovely room, beautifully presented. The Kitchen area is appointed with a range of units with inset sink unit, integrated oven, hob, fridge/freezer and dishwasher. The Living Area has ample space for sofa and chairs and dining table. With window to rear.

Bedroom One
A light and airy room with two windows to the front.

Bedrom Two
Another pretty room with two windows to the front and built in wardrobe.

Shower Room
Appointed with a suite of wash basin and wc inset to vanity units. Large double walk in shower with fixed screen. Wood effect flooring.

Rateable Value & Council Tax
Ground Floor Retail - £10,750 rates payable £5364.25

Apartments Two & Three, 56 Mill Street - £2,700 rates payable £1357.30 Please note the current owner has 100% Small Business Rates Relief with Flats 2 and 3 combined

Apartment One - Council Tax Band A