A MIXED USE INVESTMENT PROPERTY COMPRISING 2 LET RETAIL UNITS AND SELF CONTAINED 2 BEDROOMED FLAT. POTENTIAL RENT ROLL ieo £20,000pa 2
Tenure : Freehold
Double glazing
2 Floor
AGE: Post-war
Condition: Good
Heating: Gas
Other info
DESCRIPTION
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.
SITUATION
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.
SERVICES
All mains services are connected to the property. None of the services or installations have been tested by Auction House.
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.
TENURE
The property is freehold and sold subject to the existing tenancies.
OUTGOINGS
Shop - rateable value £5,100. Flat - Council tax band A. Local authority is Hull City Council.
CONDITIONS OF SALE
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneers offices, with the solicitors and on-line at www.auctionhouse.uk.net/hullandeastyorkshire prior to the date of the auction.
METHOD OF SALE
The property will be offered for sale by public auction on Wednesday 18 March 2020 at 6.30pm at The Beverley Racecourse, York Road, Beverley, East Riding of Yorkshire, HU17 8QZ. Tel: 01482 867488. For further legal information relating to this lot please log on to www.auctionhouse.uk.net/hullandeastyorkshire.
ADDITIONAL FEES
Additional Fees (including VAT)
Administration Charge: £750
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
