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Hull – Freehold Shop and Residential Investment

For sale: £140,000.00|1,558 Sq Ft|Residential, Retail, Flat, General Retail, Restaurant/Cafes, Mixed Use, Other Property Types & Opportunities

Property details

FOR SALE£140,000.00
SIZE1,558 Sq Ft
ADDRESS288/288A Southcoates Lane, Hull, North Humberside HU9 3AP
TYPEResidential, Retail, Flat, General Retail, Restaurant/Cafes, Mixed Use, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON2nd June 2020

Description

Investment Consideration:
Comprising a ground floor shop and flat above.
Situated in an established local shopping parade.
VAT is applicable to this property.
Occupiers close by include Lloyds Pharmacy (adjacent) amongst other local occupiers.

Property Description:
The property is arranged on ground and one upper floor to provide a ground floor shop with self-contained residential accommodation above.

The property provides the following accommodation and dimensions:
Ground Floor Shop: 88.8 sq m (956 sq ft)
First Floor Flat: 56 sq m (602 sq ft)

Tenancy:
The shop is at present let to M Alnassar t/a Take-Away Shop for a term of 4 years and 7 months from 15th March 2020 at a current rent of £9,840 per annum and the lease contains repairing and insuring covenants. The lease provides the tenant the option to determine on the 1st November 2021. Rent deposit held of £2,460. The first floor residential flat is at present let on an AST to an individual for a term of 6 months from 7th February 2017 (Holding Over) at a current rent of £3,900 per annum. Rent deposit held of £325.

Location:
Kingston upon Hull is a thriving east coast port, and is the commercial and retail centre of East Yorkshire, serving a population of some 258,000. The property is situated on the south side of Southcoates Lane, in between its junctions with Southcoates Avenue and Cundall Close, an established local shopping parade. The surrounding area is primarily residential. Occupiers close by include Lloyds Pharmacy (adjacent) amongst other local occupiers.

Location

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Location: 288/288A Southcoates Lane, Hull, North Humberside HU9 3AP

Hull Paragon (2.2 miles)

Cottingham (4.7 miles)

Goxhill (5.8 miles)

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