Shop & Flat investment forming part of an established retail parade
Adjacent to the A63, North Ferriby is situated west of Hull
Commercial lease expires 2029 with rent reviews in 2019 & 2024
Total rent currently £9,900 per annum exclusive
Guide Price £160,000
The property is situated at the end of the parade and is built of traditional brick construction to two-storey height primarily under a pitched tile clad roof with a substantial two-storey flat roof projection to the rear. The ground floor provides a lock-up shop trading as Select Convenience with a forecourt and access to a shared rear yard/parking area off which external stairs lead to a spacious self-contained one bedroom flat at first floor level. There is also a separate garage/store providing space to develop a more substantial structure or, if cleared, offering additional parking.
|Sales Area approximately
||34.0 sq m
||(365 sq ft)
||2.4 sq m
||(26 sq ft)
||11.0 sq m
||(118 sq ft)
|First floor flat
||51.7 sq m
||(556 sq ft) GIA
|comprising front lounge with bay, hallway, bedroom, bathroom/WC and dining kitchen
The ground floor is held on the balance of a 25 year lease term which commenced from July 2004. The lease incorporates 5 yearly upwards only rent reviews, the next of which is in July 2019. The current rent passing is only £6,000 per annum exclusive. The lease written in typical commercial terms with well over 10 years unexpired is held by a tenant with multiple outlets.
The flat is let to an individual who we understand has been in occupation for many years and currently pays £300 every 4 weeks – annual equivalent £3,900 per annum.
Reasonable rental growth and re-letting prospects are anticipated.
The investment property in this highly regarded village is offered at a guide price of £160,000.
ENERGY PERFORMANCE RATING: Awaiting Confirmation