Investment property in a high-profile location
Freehold with ground floor tenancy producing £10,000 p.a
Ground floor sales area 47.0 sq m (506 sq ft)
Ground floor ancillary 12.0 sq m (129 sq ft)
Opportunity to let first-floor flat
The property is located 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, established local shopping centre serving a high-density residential catchment. Nearby occupiers include a Spar convenience store together with a number of hairdressers, hot food takeaways, and other local retailers.
Description
The property comprises a two-storey building of brick construction beneath a pitched, concrete-tiled roof. The ground floor is accessed directly from an open forecourt with a single-glazed timber shopfront and security shutters. To the rear of the sales area is ancillary accommodation. The first-floor accommodation is self-contained and accessed via an entrance door to the side, leading to a flat with lounge, kitchen, two bedrooms, and bathroom. The upper floors are ready for immediate occupation.
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 under an effective full repairing and insuring lease at a passing rent of £10,000 per annum. This lease expires on 2nd July 2029.
Rateable Value
The ground floor is described 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 is within Council Tax Band A.
Property Enquiry
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