DESCRIPTION
City Centre commercial premises comprising a large vacant retail shop requiring refurbishment and ripe for further development and a further shop with apartments above sold on long leaseholds producing £500 pa income. The vacant retail unit has approx 8.75m frontage and extends to approx 2,850 sq feet with ancillary first floor accommodation and substantial basement. Planning consent was obtained in September 2018 (Hull City Council ref 18/00951/FULL) for conversion of the rear of the building to create two further one bedroomed apartments with a cycle store.
SITUATION
The building is in a highly visible road junction position at the north end of Savile Street in an area of mainly independent retail businesses on the eastern side of Hull's city centre retail area. It is about 500m to Hull Paragon rail station adjacent to St Stephen's shopping centre, and the city's old town business district and Princes Quay shopping complex are also similarly close.
ACCOMMODATION
Nos 13-14
Ground Floor: Retail unit approx 2,350sq ft/265 sq m, Store. First floor: Toilets, Kitchen & Store. Basement approx 1,245 sq ft./115 sq m plus storage
No 15
Retail unit (sold on long leasehold)
Upper floors
Residential apartments (sold on long leasehold)
Tenure
Freehold.
Viewings
Strictly by appointment with the auctioneers on 01482 866844.
Solicitors
Ms Sarah Collins, Keith Harvey & Company, 43 High Street, Market Harborough, LE16 7AQ. Email: sarah@keithharveyandcompany.co.uk
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 14th March 2022 and closing on Wednesday 16th March 2022 at 3.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer's offices, with the solicitors and on-line at www.auctionhouse.uk.net/hullandeastyorkshire prior to the date of the auction.
Guide Price
*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.
Additional Fees
Additional Fees (Including VAT):
Administration Charge - £750
Buyer's premium - £480
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion
Online Bidding
If you are wanting to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process:
youtube.com/watch?v=ImXr4HXR36c
- For sale by Online auction 16.3.2022
- City Centre Freehold
- Vacant retail unit
- Ground Floor approx 2,850 sq ft/ 265 sq m
- Basement & upper ancillary rooms
- Potential for further development
- To create 2 flats to the rear
- Further shop & upper flats sold leasehold
- £500pa ground rent income
