Retail and Residential Investment For Sale
Main road frontage - Forming part of an established retail parade opposite Lidl and close to Hull University
Ground floor shop c. 30 sq m (322 sq ft) plus ancillary
Residential accommodation operated as a five-bed HMO
Shop rent £8,500 p.a.exc with vacant residential
For Sale £175,000
The mid-terrace property is built of traditional brick construction to two storey height under pitched roofs providing a ground floor lock-up shop with a long established business t/a Benedicts, together with rear ground and first floor residential accommodation we are advised is licensed as an HMO with five bedrooms, bathroom, W/C and kitchen/dining area. We understand the rooms have previously been let on an individual basis at £75 p.w. per bedroom.
Shop c. 30 sq m (322 sq ft) plus ancillary.
Residential accommodation – ground floor kitchen/dining area with 5 first floor bedrooms/bathroom and W/C.
We understand the individual ground floor commercial tenant is currently holding over at a rent passing of £8,500 p.a.exc. A copy lease is awaited. We understand the business has operated from the premises for a number of years with the tenant wishing to negotiate renewal terms. The vacant residential element has previously been occupied based on a bedroom rate of £75 per week (5 x £75 – annual equivalent £19,500 per annum).
The vendor has left the lease renewal and residential letting in abeyance for a purchaser to operate and manage the investment as it considers appropriate.
For Sale at £175,000.
We understand the individual ground floor commercial is assessed as ‘Shop and Premises’ with a Rateable Value of £6,000 – a qualifying small business should therefore benefit from full rate relief under current provisions. There is a listing for 42A Cottingham Road for Council Tax purposes within Band A.
ENERGY PERFORMANCE RATING: Awaiting Confirmation