Under Offer
Hull – Takeaway & Flat
288/288A Southcoates Lane, Hull, North Humberside HU9 3APFreehold Shop and Residential Investment
Price
£140,000
Rent P.A.
£13,740
Yield
9.81%
Tenure
Freehold
Lease Term
4 Years
Years Left on Lease
Holding Over
Area
1,558 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprising a ground floor shop and flat above
- Situated in an established local shopping parade
- Occupiers close by include Lloyds Pharmacy (adjacent) amongst other local occupiers.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property is arranged on ground and one upper floor to provide a ground floor shop with self-contained residential accommodation above.
The property provides the following accommodation and dimensions:
Ground Floor Shop: 88.8 sq m (956 sq ft)
First Floor Flat: 56 sq m (602 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor Shop: 88.8 sq m (956 sq ft)
First Floor Flat: 56 sq m (602 sq ft)
Tenancy Description
The shop is at present let to M Alnassar t/a Take-Away Shop for a term of 4 years and 7 months from 15th March 2020 at a current rent of £9,840 per annum and the lease contains repairing and insuring covenants. The lease provides the tenant the option to determine on the 1st November 2021. Rent deposit held of £2,460. The first floor residential flat is at present let on an AST to an individual for a term of 6 months from 7th February 2017 (Holding Over) at a current rent of £3,900 per annum. Rent deposit held of £325.
Tenancies & Accommodation
Location Description
Kingston upon Hull is a thriving east coast port, and is the commercial and retail centre of East Yorkshire, serving a population of some 258,000. The property is situated on the south side of Southcoates Lane, in between its junctions with Southcoates Avenue and Cundall Close, an established local shopping parade. The surrounding area is primarily residential. Occupiers close by include Lloyds Pharmacy (adjacent) amongst other local occupiers.
