Investment Consideration:
Gross Initial Yield: 11.40%
Rental Income: £11,400 p.a.
VAT is NOT applicable to this property
Comprises double fronted ground floor shop t/a Boxing Gym and residential flat above, which has been sold-off on long leasehold
Situated within short walk to Goole train station with nearby occupiers include Subway, Iceland, Halifax, Specsavers and Costa, amongst others.
Property Description:
Comprises double fronted ground floor shop with 2 parking spaces t/a boxing gym and a self-contained flat above (sold-off), providing the following accommodation and dimensions:
Ground Floor: 146 sq m (1,571 sq ft)
Open plan boxing gym, store, office, wc
First Floor Flat: (sold-off)
Tenancy:
The shop is at present let to Goole Amateur Boxing Club for a term of 5 years from 1st July 2021 at a current rent of £11,400 p.a. and the lease contains internal repairing and insuring covenants. Tenant option to determine in July 2025 with minimum 6 months notice. Break clauses in 2023 and 2024 NOT exercised
The residential flat has been sold-off for a term of 999 years from 28th January 2020 at a ground rent of peppercorn.
Location:
Goole is a port, market town and civil parish in the East Riding of Yorkshire, England. Goole lies on the River Ouse, 19 miles (31 km) south of York and 29 miles (47 km) west of Hull. Goole is south of the M62 linking it with Kingston upon Hull in the east and Leeds and the West Yorkshire urban belt in the west. To the north the A63 road via Howden provides local access to the A19 road to Selby and York. The M18 runs west of the town, connecting it with South Yorkshire, the South and the Midlands. The property is located in the town centre within short walk to Goole train station. Nearby occupiers include Subway, Iceland, Halifax, Specsavers and Costa, amongst others.
