Under Offer
Hull – Takeaway
294/294A Southcoates Lane, Hull, North Humberside HU9 3APFreehold Shop and Residential Investment
Price
£105,000
Rent P.A.
£7,900
Yield
7.52%
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
Holding Over
Area
1,302 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises a ground floor retail unit with hot food takeaway planning consent and self-contained flat on the first floor
- Situated on the south side Southcoates Lane and forms part of a parade of neighbourhood retail units
- Nearby occupiers include Lloyds Pharmacy, Today’s Extra, United Carpets & Beds, amongst other local traders
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property is arranged as a terraced retail unit with hot food takeaway planning consent and self-contained living accommodation. The property includes a modern shop front and sales area with fryer, preparation/storage rooms and WC. The two-bedroom self-contained flat on the first floor has gas central heating and uPVC double glazing. This flat is independently accessed from a securely fenced rear yard.
The property provides the following accommodation and dimensions:
No. 294 (Ground Floor Shop): 55.02 sq m (592 sq ft)
No. 294A (First Floor Flat): 66.00 sq m (710 sq ft)
Flat comprises 2 Bedrooms, Landing, Living Room, Kitchen and Bathroom
The property provides the following accommodation and dimensions:
No. 294 (Ground Floor Shop): 55.02 sq m (592 sq ft)
No. 294A (First Floor Flat): 66.00 sq m (710 sq ft)
Flat comprises 2 Bedrooms, Landing, Living Room, Kitchen and Bathroom
Tenancy Description
The entire property is at present let to O. Shaw t/a Takeaway for a term of 5 years from 8th May 2018 at a current rent of £7,900 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent reviews every third year and rent deposit is held of £1,316.67.
Tenancies & Accommodation
Location Description
The property is on the south side Southcoates Lane and forms part of a parade of neighbourhood retail units which includes a large pharmacy close to the busy junction with Preston Road. This is about 2.5 miles north east from Hull city centre in an established residential area.
