Freehold retail investment in a vibrant location
Currently opperated as a cafe over both floors
Extending overall to c.77.4 sq m (833 sq ft)
Producing £14,000 p.a.e. under standard commercial terms
The property has Edwardian features inc. curved glazing and a recessed entrance
Busy neighbourhood shopping location with regional and national occupiers present
Nearby occupiers include William Hill, Sainsburys, Post Office and Cooplands
The property is situated in a central position on the western side of Newland Avenue approximately 3 miles north of Hull city centre.
Newland Avenue is in close proximity to the main campus of Hull University and offers a good mix of both retail and food & drink establishments with provision for on street car parking. The subject premises are positioned opposite a bus stop and a pedestrian crossing. The immediate area is recognised as a busy secondary retail location with a mix of local, regional and national occupiers present.
Description
The property comprises a two-storey mid terrace of traditional brick construction under a covered slate pitched roof. The property provides a main sales, small kitchen and access to a passageway at the rear. The first floor provides additional sales area/ seating, a storage room and staff/customer WC’s.
The property is held on a ‘local building list’ due to its unique traditional features including a late-Edwardian shop front with a curved window frontage, glazed brick stallriser and a recessed entrance.
Accommodation
Ground floor Main sales, kitchen | 48.5 sq m | (522 sq ft) |
First floor storage | 28.9 sq m | (311 sq ft) |
Total | 77.4 sq m | (833 sq ft) |
Terms
The property is offered For Sale, subject to the current tenancy, at a guide price of £165,000. A purchase at the guide price reflects an initial net yield of 8.27% (assuming purchasers costs of 2.6%)
Tenancy
The tenancy is held under a five year FRI lease (expiring October 2028) at a passing rent of £14,000 per annum exclusive (payable quarterly in advance).
RATEABLE VALUE
The premises are listed as ‘Shop & Premises’ with a Rateable Value of £12,750 (2026 Rating List). Under current provisions, an eligible occupier may benefit from discounted business rate liability under the Small Business Rates Relief Scheme.
ENERGY PERFORMANCE RATING: C (71) valid until 23/07/2033
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