Under Offer
Hull – White Goods Retail Shop & Ground Rent
346 Hessle Road, Hull, North Humberside HU3 3SBFreehold Shop and Residential Ground Rent Investment
Price
£90,000
Rent P.A.
£5,725
Yield
6.36%
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
2y 6m
Area
840 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises a ground floor retail shop with A1 usage
- Nearby occupiers include Lloyds Bank, Quick Silver, William Hill, Greggs, Iceland, amongst other local trader
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property is arranged as a ground floor retail shop with A1 usage. The property provides the following accommodation and dimensions:
Ground Floor Retail Shop: 78.00 sq m (840 sq ft)
Ground Floor Retail Shop: 78.00 sq m (840 sq ft)
Tenancy Description
The shop is at present let to an Individual for a term of 5 years from 29th October 2021 at a current rent of £5,700 per annum and the lease contains full repairing and insuring covenants. Rent review on 29.10.2024. Rent deposit held of £950. The first and second floor residential flat is sold off on long lease for term of 125 years at a current ground rent of £25 per annum.
Tenancies & Accommodation
Location Description
Hull has a population of 243,589 and lies on the northern bank of the Humber Estuary about 55 miles east of Leeds. Hull is linked to the national motorway network via the M62 Trans-Pennine motorway and also by the M180 motorway via the Humber Bridge. The property has a frontage to Hessle Road.