For Sale via National Online Auction, Register to Bid!
Location
The property is situated on a mixed use road in Hull amongst local shops and amenities and close to the City Centre. The open spaces of a Public Park are within easy reach. Transport links are provided by Hull Paragon International rail station and the M62 link to the wider motorway network.
Description
A superb freehold mixed commercial & residential investment arranged to provide a ground floor shop with eight one-bedroom self-contained flats above and behind. Situated within a mid-terrace building arranged over ground and two upper floors. Fully let producing a gross income of £63,000 per annum.
The building has been completely renovated recently, all doors are fireproof and there is a fire alarm. uPVC windows are fitted throughout, all the walls have been re-plastered, all the wiring has been replaced, the floors of the building is tile and laminate, heating through radiators and electric showers. Electricity and gas are separately metered for each part.
Accommodation
Ground floor lock-up shop
Tenancy:
Ground floor lock up shop is on a 36 Month lease starting 1st November 2023 producing £6,600 per annum.
The eight flats are currently fully let as follows.
Flat Start Term Rent Deposit
1 23/04/2024 12 month £700 £900
2 20/04/2024 12 month £650 £650
3 31/01/2024 12 month £450 £450
4 01/03/2024 12 month £550 £550
5 01/02/2024 12 month £650 £600
6 20/07/2022 6 month £450 £450
7 01/01/2024 12 month £550 £520
8 01/03/2024 12 month £700 £700
Shop 01/11/2023 36 months £550 £2,000
Total Monthly Income £5,250
Gross Annual Income £63,000
Tenure
Freehold
Tenancy
The property is subject to Assured Shorthold Tenancies details of which are in the legal pack.
Lot Type
Residential Investments
Important Notice to Prospective Buyers
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Administration Charge
The purchaser will be required to pay an administration charge of 0.3% of the purchase price (0.25% plus VAT), subject to a minimum charge of £900 (£750 plus VAT) in addition to the purchase price of the property.
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- 8 Bedrooms
- Tenure: Freehold
- Unconditional (Immediate Exchange)
Call the team on 0345 873 1366 for more information
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