under offer
UNDER OFFER 56 HULL ROAD HESSLE HU13 0AN Attractive ground floor retail and first floor residential investment. Situated on established parade of retail shops, close to Hessle Town Centre. Ground floor operating as Urban 44 Café (business not affected). First floor consisting of two bedroom flat. Net initial yield of 8.1% after purchaser's costs of 2.8%.
RETAIL INVESTMENT Price
Enquiries
£230,000
Paul White DDI: 01482 312366 [email protected]
Jonathan Barker DDI:01482 312367 [email protected]
Location
Tenure
The property is located on the south side of Hull Road, Hessle within a short walking distance from Hessle Square. The premises form part of a suburban shopping parade serving the residential area of Hessle approximately 5 miles west of Hull. The premises benefit from having easy access to the A63, Humber Bridge and motorway networks.
The freehold interest is available, subject to the existing tenancies.
EPC Rating
Description The property comprises of a ground floor Café, trading as Urban 44 which has the benefit of a front forecourt and rear yard area which as well as a single storey garage for storage. The first floor is accessed via a side entrance and comprises of a two bedroom self contained flat which has been refurbished to a good specification.
Service Charge There is no service charge implemented on this property.
Tenancy Information Urban 44 business not affected. The ground floor shop is held on a 5 year lease from 21st April 2015. The rent has a £500 annual increase whereby the rent commenced at £11,750 per annum. The tenant is currently paying £12,250 per annum. The rent will conclude at £13,750 per annum, giving an average rent of £12,750 per annum. The first floor is let on an Assured Shorthold Tenancy Agreement paying £6,300 per annum (£525 per annum).
Price We have been appointed to seek offers in the region of £230,000 which reflects a net initial yield of 8.1% after purchaser's costs of 2.8%.
GARNESS JONES CHARTERED SURVEYORS 79 Beverley Road, Hull, HU3 1XR Garness Jones Ltd for themselves and for the vendors or lessors of the property whose agents they are, give notice that i) Particulars are set out as a general outline only intended for the guidance of intended purchasers or tenants and do not constitute, nor constitute part of, an offer or contract. ii) All descriptions, dimensions, references to conditions and necessary permission or use and occupation and other details are given in good faith and are believed to be correct, but any intended purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. iii) The vendor or lessor does not make and neither Garness Jones Ltd nor any person in their employment has any authority to make or give any representation or warranty whatsoever in relation to this property. © Crown Copyright 2005. All rights reserved. Licence number 100010906. VALUE ADDED TAX Value Added Tax may be payable on the purchase price and/or the other charges or payments. All figures quoted are exclusive of VAT. Intending purchasers and lessors must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice.
RETAIL INVESTMENT Price
Enquiries
£230,000
Paul White DDI: 01482 312366 [email protected]
Jonathan Barker DDI:01482 312367 [email protected]
Location
Tenure
The property is located on the south side of Hull Road, Hessle within a short walking distance from Hessle Square. The premises form part of a suburban shopping parade serving the residential area of Hessle approximately 5 miles west of Hull. The premises benefit from having easy access to the A63, Humber Bridge and motorway networks.
The freehold interest is available, subject to the existing tenancies.
EPC Rating
Description The property comprises of a ground floor Café, trading as Urban 44 which has the benefit of a front forecourt and rear yard area which as well as a single storey garage for storage. The first floor is accessed via a side entrance and comprises of a two bedroom self contained flat which has been refurbished to a good specification.
Service Charge There is no service charge implemented on this property.
Tenancy Information Urban 44 business not affected. The ground floor shop is held on a 5 year lease from 21st April 2015. The rent has a £500 annual increase whereby the rent commenced at £11,750 per annum. The tenant is currently paying £12,250 per annum. The rent will conclude at £13,750 per annum, giving an average rent of £12,750 per annum. The first floor is let on an Assured Shorthold Tenancy Agreement paying £6,300 per annum (£525 per annum).
Price We have been appointed to seek offers in the region of £230,000 which reflects a net initial yield of 8.1% after purchaser's costs of 2.8%.
GARNESS JONES CHARTERED SURVEYORS 79 Beverley Road, Hull, HU3 1XR Garness Jones Ltd for themselves and for the vendors or lessors of the property whose agents they are, give notice that i) Particulars are set out as a general outline only intended for the guidance of intended purchasers or tenants and do not constitute, nor constitute part of, an offer or contract. ii) All descriptions, dimensions, references to conditions and necessary permission or use and occupation and other details are given in good faith and are believed to be correct, but any intended purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. iii) The vendor or lessor does not make and neither Garness Jones Ltd nor any person in their employment has any authority to make or give any representation or warranty whatsoever in relation to this property. © Crown Copyright 2005. All rights reserved. Licence number 100010906. VALUE ADDED TAX Value Added Tax may be payable on the purchase price and/or the other charges or payments. All figures quoted are exclusive of VAT. Intending purchasers and lessors must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice.
