A mixed use investment property comprising of a ground floorCafe with basement storage and three bedsits on the upper floors currently producing £17,940pa gross income.

***SOLD NOW TAKING ENTRIES FOR OUR NEXT AUCTION 11th APRIL 2018 CONTACT US FOR FURTHER DETAILS*** Offered on the instructions of The LPA Receivers Description A substantial mixed use investment property comprising of a ground floor café with large basement storage area offering further potential for expansion (subject to planning). On the first and second floor is a one bedroom flat and two small bedstis, The building is located just a stones throw from the Town harbour and sea front. Bridge street and the surrounding area is currently part of a significant regeneration scheme by the local Council which is set to lift the appeal of this established seaside town in the short to long term future.

Situation

Situated very close to the Bridlington harbour this is a prime all year round location. Bridlington is a traditional east coast seaside resort town that offers an excellent range of amenities and public transport connections.

Agents Notes

The property is currently the subject of a Private Sector Housing Schedule of Works to Remedy Hazards Notice. A copy of the notice will be included in the legal pack. Work in relation to this notice will NOT be carried out prior to completion.

Accommodation

Ground Floor: Approx 950 sq ft including two areas for customer dining, WC and kitchen. Basement: A further area of Approx 900 sq ft providing extensive storage and further potential. First floor: Two let bedsit flats (one approached from the staircase at the rear of the building and the other from the Cafe. Second floor: Small bedsit (vacant).

Rental Income

The ground floor café and basement is understood to have been let on what is understood to be a five year lease at a passing rent of £9,980 pa. Details or copies of the lease and terms are not available. Two of the three bedsits are let to longstanding tenants although copies of the tenancy agreements are not in hand. The flat has a passing rent of £4,420pa and the bedsit ££3,640.

Business Rates & Council Tax

The property is described as 'Cafe and Premises', with a Rateable Value of £6,800 under the 2017 list. The Flats are listed under council tax band 'A' payable to the East Riding of Yorkshire Council.

Services

All mains services are believed to be connected however these have not been checked by the selling agents or vendors. Gas fired heating is provided to some areas of the building.

Energy Efficiency Rating (EPC)

Current Rating TBC

Services

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

Local Authority

East Riding of Yorkshire Council

Solicitors

TLT LLP, One Redcliff Street, Bristol BS1 6TP, Ref: Rebecca Pickering, Tel: 0333 006 0648

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £600 inc VAT (£500 +VAT).

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.