Investment property in a prominent, high-profile location
Freehold interest with ground floor income of £10,000 per annum
Ground floor sales area extending to 47.0 sq m (506 sq ft)
Ground floor ancillary accommodation of 12.0 sq m (129 sq ft)
Situated within an established local shopping parade
Opportunity to let or occupy the self-contained first-floor flat
The property occupies a prominent position at the junction of Cross Coates Road and Littlecoates Road, approximately 1 mile west of Grimsby town centre. The premises form part of a small but well-established local shopping centre serving a densely populated residential area.
Surrounding occupiers include a SPAR convenience store, hair salons, hot food takeaways, and a variety of other local retailers, providing strong footfall and visibility.
Description
The property comprises a two-storey brick-built building beneath a pitched concrete-tiled roof.
The ground floor is accessed directly from an open forecourt and benefits from a single-glazed timber shopfront with external security shutters. To the rear of the sales area is ancillary accommodation providing additional storage and facilities.
The first floor is self-contained and accessed via a separate entrance to the side of the building. The accommodation comprises a lounge, kitchen, two bedrooms, and a bathroom. The flat is presented in a condition suitable for immediate occupation or letting.
Accommodation
Floor | Description | Area (sq m) | Area (sq ft) |
Ground Floor | Sales Area | 47.0 | 506 |
Ground Floor | Ancillary | 12.0 | 129 |
First Floor | 2 Bedroom Flat |
Terms
The ground floor premises are currently let on an effective Full Repairing and Insuring (FRI) lease, producing a passing rent of £10,000 per annum.
The lease expires on 2 July 2029.
Rateable Value
The ground floor is assessed as “Shop & Premises” with a Rateable Value of £5,500 (Source: VOA).
The tenant is responsible for payment of business rates.
The first-floor flat falls within Council Tax Band A.
Legal Costs
Each party is to be responsible for their own legal costs and any Stamp Duty Land Tax incurred.
Energy Performance Certificate (EPC)
Ground Floor: C (64)
First-Floor Flat: D (66)
Property Enquiry
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