50 Savile Street

Hull, HU1 3EF

Buy £115,000

Freehold Investment Opportunity

Forming part of an established retail parade

Ground Floor 61.2 sq m (659 sq ft)

Total area 131.4 sq m (1,415 sq ft)

Producing a rental income of £9,000 p.a. from an established tenant

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The subject property is located on the east side of Savile Street close to King Edward Street and Queen Victoria Square within Hull city centre. Savile Street is home to a mix of independent retailers. The central position enables easy access to all city centre area amenities. The property is shown in red on the Goad plan.

Description

The property comprises a 3-storey traditional brick, mid terrace building beneath a pitched slate roof incorporating a shuttered aluminium shop front with a recessed entrance.

Internally, the property provides a regular shaped ground floor sales area, benefiting from laminate flooring and a suspended ceiling with integrated lighting. An internal staircase provides access to the first and second floors, currently being used for additional storage and WC’s.

Accommodation

Ground Floor

61.2 sq m

(659 sq ft)

First Floor

33.7 sq m

(363 sq ft

Second Floor

36.5 sq m

(393 sq ft)

Total area

131.4 sq m

(1,415 sq ft)

Terms

Lease Details

The property is held on an effective Full Repairing and Insuring commercial lease which expired 20/04/2016 (currently holding over). The rent passing is £9,000 per annum payable monthly in advance. New heads of terms have been issued to the tenant, based on £9,000 p.a. for 5 years. The tenant has been in occupation since April 2010 and has expressed a wish to enter in to a new lease.

Disposal Terms

The freehold interest, subject to the current occupation is available For Sale at a guide price of £115,000.

Rateable Value

The premises are described as ‘shop and premises’ with a rateable value of £8,100 effective April 2017. Under current provisions, a small business may benefit from 100% small Business Rates Relief (subject to status). For clarification, please contact Hull City Council on 01482 300300

Energy Performance Rating:

Requires reassessment - awaiting details

Property Enquiry

50 Savile Street

50 Savile Street