47, 47A, 47B & 47C Grimsby Road

Cleethorpes, DN35 7AQ

Buy £165,000

Mixed use retail/residential property within popular location

Accommodation extending to approximately 201.1 sq m (2,165 sq ft) overall

Ground floor comprising 2 retail units with ancillary accommodation

First floor comprises 2 flats

Businesses unaffected

Guide Price £165,000 (reflecting a gross yield of 8.7%)

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The town of Cleethorpes forms part of the larger Grimsby and Cleethorpes conurbation with a population of approximately 40,000.  The town is situated approximately 27 miles east of Scunthorpe and 32 miles south-east of Kingston upon Hull.  Whilst Grimsby provides the main administrative hub for the North East Lincolnshire area and in more recent years has experienced a considerable capital investment for enlarged offshore windfarm projects, Cleethorpes provides a more cultural and tourist related offer centred around its long established visitor economy and leisure offer to both visitors and residents alike.

Within this context the property is situated to the northern side of Grimsby Road, the main route to Cleethorpes town centre from the A180 within a terrace of similar properties.

Description

The property comprises two-storey premises originally constructed for residential purposes which have been converted to a provide two retail units to the ground floor with two flats to the first floor.

Internally, No. 47 provides a retail area on the ground floor with a rear store and WC while No. 47A also provides a retail area on the ground floor with rear workroom/store and WC.

The first floor is accessed via a separate entrance on Grimsby Road and comprises a one bedroom flat and a studio flat.

A variety of occupiers nearby include Natwest, Tesco and St Andrews Hospice while a number of local convenience stores and takeaways are also situated within the locality.

Accommodation

Ground No. 47 

Retail

41.0 sq m

(441 sq ft)

Ancillary

8.0 sq m

(86 sq ft)

Ground No. 47A  

Retail

28.7sq m

(309sq ft)

Ancillary

20.4 sq m

(220 sq ft)

First Floor No.47B
Residential45.7 sq m(492 sq ft)
First Floor No.47C
Residential57.3 sq m(617 sq ft)

Terms

The premises are offered For Sale at a guide price of £165,000, subject to lease, reflecting a yield of 8.7%.

Property

Tenant

Lease Term

Expiring

Rent

Business Rates/Council Tax

EPC

47

Elite Second Hand Stores

3 years

June 2024

£3,360 p.a, rising to £3,600 p.a. from Jan 2022

£3,100

C

47A

All Wood Is Good

3 years

Nov 2021

£3,640

£3,050

D

47B

Residential

AST

Rolling

£2,860

£1,336.33

F

47C

Residential

AST

Rolling

£4,500

£1,336.33

E

LEGAL COSTS

Each party will be responsible for their own legal costs incurred together with any Stamp Duty Land Tax that may be payable.

Property Enquiry

47, 47A, 47B & 47C Grimsby Road

47, 47A, 47B & 47C Grimsby Road