For Sale By Auction | 6.30pm , 11 September 2019 | Lot 17

16 High Street, North Ferriby, East Yorkshire, HU14 3JP

Sold £300,000

  • Mixed Use
  • 6 Bedrooms
  • Tenure: The property is held under freehold title and is sold subject to the existing leases.

Call the team on 0845 400 9900 for more information

Auction Date

Wed 11/09/2019

Auction Time

6.30pm

Auction Venue

Beverley Racecourse, York Road, Beverley, HU17 8QZ

A MIXED COMMERCIAL AND RESIDENTIAL INVESTMENT PROPERTY currently producing a gross rental of £29,500pa.

***SOLD NOW TAKING ENTRIES FOR OUR NEXT AUCTION 13th NOVEMBER 2019 CONTACT US FOR FURTHER DETAILS*** The sale of this property represents an excellent investment opportunity for any investor. The substantial building is fully let on long term leases, with a gross rental income of £29,500 pa. We understand that the tenants are responsible for all internal and external repairs and insurance of the building - Copies of the leases will be available in the legal pack.

Tenure

The property is held under freehold title and is sold subject to the existing leases.

Situation

The desirable village of North Ferriby is located along the banks of the River Humber and lies approximately 7 miles to the west of Hull. Immediate access is available to the A63/M62 motorway network. The village also has its own railway station and a good range of local shops, general amenities and a well reputed primary school. A variety of local walks are available particularly around the River Humber.

Accommodation

Ground Floor: Retail space, Kitchen, Store, Store, Office, Store. First Floor: Communal Hall, Flat A: We have not been able to access this flat prior to commencement of marketing. Flat B: Hall, Kitchen, Living Room, Bathroom, Bedroom. Flat C: Hall, Kitchen, Living Room, Bathroom, Bedroom One, Bedroom Two. Flat D: Hall, Kitchen, Living Room, Bathroom, Bedroom.

Viewing

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

Lease Details

Ground floor let to Vive Le Velo Ltd, 10yrs from 25/9/14, expiry 24/9/24, passing rent £17,500pa, rent review due 25/9/19. There was an option to break on the review note however this required six months notice and this option has not been excercised. The tenant trades as a bicycle retailer. The whole of the first floor is let to Sanctuary Housing Association and comprises of residential flats. The lease is for 35yrs from 8/10/1993, (expiry 8/10/2028 - 9 years) and the passing rent is £12,000pa with the next rent review on 8/10/2020.

Services

All mains services are connected to the property. Three phase electricity is understood to be connected to the ground floor. Each flat is separately metered and all have individual gas central heating. The services have not been tested by Auction House.

Rates

The rateable value is rounded down to £12,250 for this property as of 1st April 2017. Local authority reference NOR035016000N.

EPC

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

Hill Dickinson LLP, 50 Fountain Street, Manchester M2 2AS, Ref: Gary Cohen, Tel: 0161 838 4946

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.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.