12 Tower Street, Ludlow, Shropshire, SY8 1RL

Property Description

Tower Street is located in the heart of Ludlow's historic Town Centre. 12 Tower Street is a four storey mixed use investment which has been excellently maintained and improved by the current owners. On a busy pedestrian thoroughfare, now available the property is an excellent investment opportunity. The ground floor retail has an existing tenant and there are two refurbished residential apartments above each tenanted. The Freehold is generating an income of just under £30,000 per annum.

The property has recently undergone an extensive programme of works including new roof, all chimneys and valley gutters newly releaded and refurbishment and external decoration of windows on the upper levels. The exterior is in excellent decorative condition.

The layout of the property is ideal for mixed use as there is a separate access to the flats at the side opening to a shared Hall with the retail element and a door and stairs rising to the apartments.

Ground Floor Retail
The retail element is currently tenanted with a lease until 2027 at £1200 per calendar month. The tenant has informed the landlord that they wish to sign a further lease for another 10 years which can be drawn up prior to the sale. Approached off the busy pedestrianised thoroughfare with ample space outside to display stock the main retail area is 401 sq. ft, off here is a communal Hall with a door to the side and a door leading up to the apartments. Beyond the Hall is a useful store room 150 sq.ft5 and a kitchenette.

Stairs lead from the Hall down to the useful basement area.

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The residential apartments have been consistently easy to let to professional tenants.

Flat 1, 12 Tower Street
- A spacious second floor one bedroom apartment retaining period features currently tenanted and achieving £695 per calendar month. With a lovely Sitting Room with deep bay window to front, a Kitchen, Bathroom and a good sized Double Bedroom. A new gas combination boiler was installed in 2024.

Flat 2, 12 Tower Street

Council Tax
Flat 1, Tower Street - Council Tax Band A
Flat 2, Tower Street - Council Tax Band A

Rateable Value & Business Rates
Rateable Value £11,000 April 2023 to present. Total area 52.4 sq m. (564 square feet)
Rates payable £5489.