Lincoln Property Syndicates are Scheme Administers for this syndicate.
Louth is a market town in the East Lindsey district of Lincolnshire. Louth is the principle town and centre for a large rural area of eastern Lincolnshire. It has a resident population of approximately 20,000 people.
Louth is located roughly 50 minutes from Lincoln. The development is located on Newmarket Road next to The Newmarket Medical Practice.
LPS are now syndicate administrators for this scheme since July 2017 after taking over from the current administrators.
The development was built in 2014 and compromises of a convenience store with smaller retail units.
The main unit is let to national food retailer, The Co-operative Food Group, as the anchor tenant. There is ample car parking.
The other unit is let to Warwick Healthcare Limited.
Rational for Purchase
This was another high quality new build property, which has strong tenant quality/covenant in the form of the national Co-Operative Group.
Neighbourhood centres are popular when sited in close proximity to residential development, as UK consumers buying habits evolve from weekly/monthly ‘major shops’ at out of town sites, to more regular use of convenience stores.
The anchor tenant gives a strong income stream which will be distributed to investors after borrowing costs and some small reserving.
The Total syndicated purchase price was £1,235,000, which included borrowing of £570,000, provided on a non-recourse loan by NatWest Bank plc.
Initial investment offers access to a high-quality brand-new investment property with a strong tenant covenant with a regular ongoing quarterly income stream and potential for capital growth over the term held.