For Sale By Auction | 6.30pm , 18 March 2020

668-670 Marfleet Lane, Hull , East Yorkshire, HU9 4TP

*Guide | £175,000 (plus fees)

  • Shop
  • 2 Bedrooms
  • Tenure: The property is freehold and sold subject to the existing tenancies.

Call the team on 0845 400 9900 for more information

Auction Date

Wed 18/03/2020

Auction Time

6.30pm

Auction Venue

Beverley Racecourse, York Road, Beverley, HU17 8QZ

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.

Tenure

The property is freehold and sold subject to the existing tenancies.

Location

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.

Accommodation

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.

Lease Details

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.

Viewing

By prior appointment with the auctioneers. Tel 01482 866844.

Outgoings

Shop - rateable value £5,100. Flat - Council tax band A. Local authority is Hull City Council.

Services

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

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Hull City Council

Solicitors

Andrew Jackson , Marina Court, Castle Street, Hull, HU1 1TJ, Ref: Yasmin Fenton , Tel: 01482 601 324

Additional Fees

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.