Mixed use property in a popular location
Extending to approximately 117.8 sq m (1,268 sq ft) overall
Ground floor comprising retail accommodation with ancillary areas to the rear
First floor comprising a two-bedroomed flat - Part let, generating an income of £4,490 per annum
Potential to generate additional income
The town of Grimsby forms part of the larger Grimsby and Cleethorpes conurbation with a population of 88,250. The property is located on Wellowgate, forming part of an established retailing location approximately 0.5 miles to the south-west of Grimsby town centre.
The property comprises two-storey, end-terrace, mixed-use retail/residential premises, on the southern side of Wellowgate. Internally, the ground floor provides retail accommodation to the front, with extensive ancillary areas to the rear. The flat occupies the entire first floor, being separately accessed via a communal passageway on the eastern side and comprises a lounge, kitchen with balcony area, two bedrooms and bathroom.
Nearby occupiers include Ready Rent-a-Car and Maxwell’s Hair Design, in addition to a variety of other local occupiers and residential houses.
36.1 sq m
(389 sq ft)
27.6 sq m
(297 sq ft)
54.1 sq m
(582 sq ft)
The premises are offered For Sale on a freehold basis, at a guide price of £115,000, subject to the existing tenancy agreement. The first floor flat has been let for approximately 20 years at a rent of £95 per week (£4,940 per annum).
The new occupier will be responsible for the payment of Business Rates at the property. The ground floor of the premises are listed within the Rating List as‘Shop & Premises’ with a Rateable Value of £3,250 (Source: VOA website), although the premises will require reassessment should a change of use take place. The new occupier may be eligible for Small Business Rates Relief but should contact North East Lincolnshire Council for confirmation.
The first floor flat has a Council Tax band rating of ‘A’.
ENERGY PERFORMANCE RATING: To be confirmed
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