The accommodation comprises a traditional brick built three storey property that provides three separate, one bedroomed flats, all held on Shorthold Tenancy Agreements at a combined rent of £11,660 per annum along with a ground floor retail unit, currently let on a 3 year FRI lease at an annual rent of £7,520 Per Annum, generating a combined income of £19,180.
The investment is located on Grant Street within close proximity to the town centre and nearby by train station, close to the junctions of High Street, Alexandra Road, and the Market Place Cleethorpes, popular with local residents and seasonal visitors.
The property is within close proximity to the principal retail location of St Peters Avenue as well as the elite shopping location of Sea View Street, the newly refurbished Cleethorpes Pier as well a variation of leisure facilities, restaurants, family dining and wine bar establishments.
Cleethorpes is located within North East Lincolnshire and has a resident population of approximately 30,000 with an approximate borough population of 160,000.
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 is £4,750 for the ground floor commercial unit. All three 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.
EPC
A copy of the EPC is available for inspection at the Agent’s offices.