Call the team on 0845 400 9900 for more information
A MIXED USE INVESTMENT PROPERTY COMPRISING 2 LET RETAIL UNITS AND SELF CONTAINED 2 BEDROOMED FLAT. POTENTIAL RENT ROLL ieo £20,000pa
This end of terrace unit, understood to date from the late 1950’s, was purpose built as a part of a parade of neighbourhood shops with first floor self contained flats. It is now offered as a mixed use investment property. The open plan ground floor retail unit (668) is let as a betting office to Coral Racing Ltd and a further detached building at the rear to let to a carpet retailer. A spacious fully self contained flat to the first floor (670), with gas central heating and uPVC double glazing, is vacant at the time of going to market, but when let the total income produced by the property should be at least £20,000pa, Current rents received are £15,000pa.
The property is freehold and sold subject to the existing tenancies.
The property is around 3.25 miles from the city centre toward Hull’s north eastern outskirts and is part of two blocks of shops providing services to a wide surrounding residential area to include a general store, hot food takeaways, hairdressers and public house across the road.
Ground Floor: Betting office/retail unit with two WC’s First Floor: Side entrance & stairs to Landing, Lounge with Dining Area, Kitchen, Bathroom with shower & wc, 2 Bedrooms Rear Detached Unit: (not internally inspected) Sales shop & wc 25’ x 18’ (7.62m x 5.48m) external measurement Outside: Forecourt and fenced rear yard.
Ground floor let to Coral Racing Ltd - 10 yrs from 8/3/13, expiry 7/3/23 with rent passing of £12.000pa. A copy of the lease is available with the legal pack. Detached unit let to Adam Northage at a rent of £750 per quarter on an informal arrangement.
By prior appointment with the auctioneers. Tel 01482 866844.
Shop - rateable value £5,100. Flat - Council tax band A. Local authority is Hull City Council.
All mains services are connected to the property. None of the services or installations have been tested by Auction House.
Energy Efficiency Rating (EPC)
Current Rating D
Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.
Hull City Council
Andrew Jackson , Marina Court, Castle Street, Hull, HU1 1TJ, Ref: Yasmin Fenton , Tel: 01482 601 324
Administration Charge - The purchaser will be required to pay an administration charge of £750 (£625 plus VAT) in addition to the purchase price of the property.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.