Retail property (high street)
Features and description
- Tenure: Freehold
- Three storey mixed use property
- Investment opportunity
- Freehold title
- In a sought after central location
- Potential for advertising hoarding (STPP)
- Roller shutter door
We are pleased to offer to auction this three storey mixed use investment opportunity in a sought after central location with potential for prominent advertising hoarding (STPP).
The property is entered via a roller shutter door to the front elevation onto Witham. To the ground floor there is a retail area of approximately 33 sq m along with a kitchen area and staff toilets. (STPP) The upstairs to the building has potential be converted to an apartment with the addition of a kitchen & bathroom and benefits from a bay window to the front elevation and is accessed through the ground floor retail unit.
Following a program of works the upper floors could be rented for £350 pcm (£4,200 pa). Once tenanted the ground floor retail could generate in the region of £400 pcm (£4,800 pa). In addition, due to the location of the property and its close proximity to the city centre the exposed east side of the property could be used as an advertising board.
Please note we have not inspected this property.
Rooms
Location
The property is conveniently located on the north side of Witham in the city of Kingston upon Hull. Voted as the city of culture for 2017, Hull offers an abundance of amenities and leisure facilities with many national and international retailers and businesses trading on the doorstep with heavy passing footfall. The area is set for continued regeneration and expansion following the city of culture title. Hull benefits from excellent road access with the M63 and A63 in close proximity. Hull Paragon Interchange offers frequent direct rail services to London Kings Cross, Manchester and Leeds.
Accommodation
The property is entered via a roller shutter door to the front elevation onto Witham. To the ground floor there is a retail area of approximately 33 sq m along with a kitchen area and staff toilets. (STPP) The upstairs to the building has potential be converted to an apartment with the addition of a kitchen & bathroom and benefits from a bay window to the front elevation and is accessed through the ground floor retail unit.
Tenure
Freehold. Title number HS281157.
Rateable Value
The current rateable value is £3,300 (1 April 2023 to present).
Sourced from VOA.
EPC
Available upon request (rating C).
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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