The property comprises a mixed use mid-terraced premises of traditional brick build, set under pitched tile roofing, Incorporating two separate self-contained, one bedroomed flats, FF flat currently vacant the GF flat is held on Shorthold Tenancy Agreement at an annual rent of £3,900 per annum (fully let will rise to £7,800 per annum), a separate store, held on a Licence Agreement, currently holding over (new terms under negotiation) at a passing rent of £780 per annum, the ground floor comprises a separate retail unit, currently vacant with a potential rent of £3,380 per annum, once fully let the annual rental potential is approximately £11,960.
The property is situated on the busy thoroughfare of Corporation Road, providing links to Grimsby to town centre and within close proximity to the A180, leading to all motorway networks.
The investment is available For Sale at £98,500. A copy of the lease’s and agreements are available upon request.
Legal Costs
Each party is to be responsible for their own legal costs and stamp duty or land tax that may apply.
Rateable Value
We are advised by North East Lincolnshire Council that the Rateable Value for ground floor retail unit is £2,250. Both flats are listed under the Band A assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change and the rates payable can vary due to changes in transitional relief.