362 Holderness Road

Hull, HU9 3DL

Buy £138,000

Vacant shop & tenanted flat (part let investment)

Ideally suited to owner occupiers or investors

Currently generating a gross rent £3,900 p.a. (£325 p.c.m.) from the flat

Potential to generate additional investment income by letting the ground floor

Popular Holderness Road location, close to the main retail parades

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The property is located in Hull, East Yorkshire on the south side of Holderness Road, approximately 2 miles east of the City Centre. Holderness Road is an main arterial route to and from the east of the city and is close to the junction with Southcoates Lane. The location is anchored by many local, regional and national operators. The property sits immediately between local branches of William H Brown Estate Agents and Lovelle Estate Agents.

Description

The property comprises a mid-terrace brick built premises providing a ground floor retail premises with an independent self-contained 1-bed flat at first floor level.The vacant retail unit benefits from a glazed shop front, secured with an electric roller shutter. The main sales area is partitioned to provide a self-contained office, leading through to store/rear office, staff kitchen and WC. Premises are part carpeted, part vinyl floor complete with ceiling mounted strip lighting. The ground floor benefits from consent for uses within class ‘E’ (Commercial, Business and Service) including retail and financial/professional uses, such as an estate agents.

The tenanted flat is independently accessed via the rear, providing a one bedroom premises comprising a fitted bathroom suite completed with shower, kitchen, bedroom and living room. Windows are UPVC double glazed and heating is provided by wall mounted gas central heating.

Accommodation

OCCUPATIONAL LEASE

Ground Floor Retail Vacant Premises. Not Applicable.

First Floor flat Gross rent of £3,900 per annum (£325 per calendar month).

ACCOMMODATION

Ground Floor Retail 44.0 sq m (474 sq ft)

First Floor Flat - 1 Bed 40.7 sq m (438 sq ft)

Terms

The property is offered For Sale at a guide price of £138,000.

The ground floor is also offered To Let at a Guide Rent £7,800 p.a.e. (£150 per week)

INVESTMENT POTENTIAL

Potential total income of £11,700 per annum (excluding costs), assuming a letting of the ground floor at £7,800 per annum (£150 per week),

reflecting an initial gross yield of 8.5%, less costs, based on the quoting price of £138,000.

RATEABLE VALUE / COUNCIL TAX

The ground floor element is described as ‘Shop and Premises’ with a Rateable Value of £4,250. The billing authority is City and County of

Kingston Upon Hull under reference 10220001036204. Occupiers may benefit from 100% small business rates relief, subject to tenant status.

The flat has a Council Tax band of ‘A’.

ENERGY PERFORMANCE RATING: Shop – D / Flat - D

Property Enquiry

362 Holderness Road

362 Holderness Road