A mixed investment property with considerable upside potential on income.

This mixed commercial property offers buyers the opportunity to purchase a ready made investment property that is let to a long term tenant and an excellent opportunity to increase the yield following some renovation work to the upper floor self contained apartment. The tenant is currently holding over on a lease that started in 2004 and is keen to remain in the property. The shop has A1 use and provides a retail space of 480 sq ft (44.6 sq m) plus a small kitchen & WC and the upper floors provide a good sized flat with two bedrooms and attic space that could provide two additional bedrooms.

Tenure

See Note

Situation

Located in a busy commercial area at the City Centre end of Holderness Road with excellent public transport connections to the City Centre and out to the East.

Accommodation

Ground Floor: Retail Unit: Currently let as a Sandwich shop to a long term tenant who is holding over but interested in entering into a new lease. Kitchen , Shower Room, WC. Self Contained Flat: Private entrance with staircase off too: First Floor: Landing, Living Room, Bedroom One, Bedroom Two, Kitchen, WC, Shower Room.

Viewing

Strictly by appointment through Auction House Hull & East Yorkshire on 0845 400 9900.

Tenure

We understand that the ground floor is currently holding over on a 3 year lease from 27th February 2004. The long term tenant is interested in entering into a new lease. The rent passing has not changed from the original lease at £3,000pa. The upper floors are vacant however the current landlord has allowed the ground floor tenant to store some possessions in it following the collapse of a roof to a ground floor store occupied by the tenant at the rear of the property.

Joint Agent

PPH Commercial The Hesslewood Estate Ferriby Road Hessle HU13 0LG T: 01482 626947

Rateable Value

The property is currently listed with a rateable value of £3,050 for the ground floor. The first floor has been removed from the council tax list.

Services

All mains services are connected but have not been tested.

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

Hull City Council

Offered in association with

Dee Atkinson and Harrison

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.