A freehold mixed-use portfolio of 19 properties arranged as 10 shops, 4 offices and 5 flats in Driffield, positioned predominantly on the outer fringe of the main shopping thoroughfare or within an established secondary trading street close to the Town centre. The accommodation is largely configured with retail at the ground floor and residential flats or office space above, forming two traditional parades that continue to serve local day-to-day demand.

The portfolio is almost fully occupied and generates a gross income of £90,780 per annum. One vacant office offers a near-term opportunity to increase the total to around £92,860 per annum, based on existing rental evidence. Rents sit at levels that have proven affordable for independent businesses, supporting consistent take-up and providing investors with confidence in the sustainability of the income.

Constructed mainly in the early to mid twentieth century, the buildings appear as solid, familiar stock. EPC ratings are E or above, fire and electrical regulations are addressed, and there are no known requirements for major structural expenditure. At Brook Street Chambers, several suites share common corridors and facilities, with tenants responsible for internal repairs while the landlord retains the exterior, which is an arrangement well understood in assets of this type.

The properties have been under continuous professional management, including the last three years by the current agent, giving comfort around rent collection, record keeping and compliance.

For purchasers seeking an accessible multi-let investment, the portfolio offers immediate income, proven occupational demand and an identifiable scope to capture future rental growth through active management and the letting of the remaining vacant space.

The freehold of 22 Middle Street South is included, with Flat 1 retained and income producing and Flat 2 sold off on a 125 year lease from March 2016. The long lease produces a ground rent of £125 per annum until March 2041, rising by £100 every 25 years thereafter, providing an additional reversionary income and ongoing control of the building.

Location

Driffield is a well-established market town serving a wide rural catchment within the East Riding. The centre provides a mix of local retailers, services, cafes and professional occupiers which support regular footfall throughout the week, reinforced by traditional market activity and a strong sense of local identity.

With the exception of 77 Middle Street South, the four of the properties sit  on the outer fringe of the main shopping street, with B&M, Boyes and a Morrisons Local store close by.  The Brook Street units are in secondary trading locations that are still close to the main commercial core. These positions continue to function because they offer affordable occupational costs and convenient access to the town’s amenities. Shoppers and businesses benefit from short walking distances to car parking, convenience stores and public transport.

Road links connect the town to surrounding villages and to the larger centres of Bridlington, Beverley and Hull, while the railway station provides direct services along the Yorkshire coast and inland. This accessibility helps sustain demand from small businesses seeking premises that are easy for customers and staff to reach.

For investors, the appeal of the location rests in consistent local usage, limited competing supply at similar price points, and a long history of independent traders operating successfully from character buildings in and around the centre.

Services

Mains water, drainage, and electricity are connected to all properties; however, none of the services have been tested, and some may require upgrading during development.  Purchasers should make their own enquiries in this regard.

Tenure
Freehold and subject to the tenancies detailed above and in the legal pack.

Viewing
Strictly by appointment with the sole agents.  Viewing of some of the units might not be possible due to tenant availability.

Council Tax and Business Rates

All flats are listed as being in council tax band A.  Business rates are payable by the tenants.  Full details of the current business rates are available on the government website :.tax.service.gov.uk/business-rates-find/search

EPC

All of the EPC certificates will be included in the legal pack.

Floor Area Disclaimer

Any floor areas quoted are for guidance purposes only.  They have been taken from the Business Rates website or the EPC.