Mixed use

This vacant self-contained mixed residential and commercial unit offers an excellent investment opportunity to anyone looking to extend their portfolio with a good quality mixed use unit.  The property is currently vacant having been occupied by the current owner prior to a change of circumstances.  The shop provides a retail area of approximately 408 sq ft (38 sq m) and secure storage, stock room and WC of 418 sq ft (39 sq m). It also has secure entry/exit points with a remote-controlled shuttered door to the front of the shop.  It is estimated that the ground floor could achieve a rental income in the region of £4,800pa and the one bedroom first floor flat could let at £380pcm giving a possible Gross income of £9,360pa.  N.B some additional work to meet fire regulations will be required to the ceiling of the shop before the flat can be let.

Location

New Bridge Road is a popular location being close to the busy Holderness Road on the East side of the City.  Retail units are in good demand in the area.

Accommodation

Ground floor:  Retail sales area, Storage room, Stock room, WC

First Floor: Private entrance, landing, Living room with log burner, Kitchen, bathroom, Bedroom.

Services:  All mains services are connected but have not been tested.  Central heating for the flat is from a recently renewed gas fired combination boiler.  uPVC double glazing is also installed.

Tenure

We understand that the property is freehold and is offered with vacant possession upon completion.  

Council Tax/Business Rates

East Riding of Yorkshire Council shows that the property is banded in council tax band A.  The ground floor has a current rateable value of £4,700 although depending on the circumstances of the occupier, it may qualify for Small Business rate relief under which there is the opportunity for occupiers to claim up to 100% relief against business rates in certain circumstances.

Viewings

Strictly by appointment with the auctioneers on[use Contact Agent Button]

Solicitors

Jane Brooks Law, Cottingham.  FTAO: Paul Harrison

Method of Sale

The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 22nd May 2023 and closing on Wednesday 24th May 2023 at 3.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire.

Conditions of Sale

The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer's offices, with the solicitors and on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.

Guide Price

*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees:

The purchaser will be required to pay an administration charge of 0.3% of the purchase price subject to a minimum of £750 (£625 plus VAT) and a buyer's premium of £480 (£400 plus VAT) in addition to the purchase price of the property.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

ONLINE BIDDING

If you are wanting to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process:

youtube.com/watch?v=ImXr4HXR36c