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COMMERCIAL

Hull, HU3

Guide Price
£500,000
Auction House, Driffield
PROPERTY TYPE

Retail Property (high street)

BEDROOMS

8

BATHROOMS

8

SIZE

Ask agent

Description

A superb freehold mixed commercial & residential investment arranged to provide a ground floor shop with eight one-bedroom self contained flats above and behind. Situated within a mid-terrace building arranged over ground and two upper floors. Fully let producing a gross income of £63,000 per annum.

The building has been completely renovated recently, all doors are fireproof and there is a fire alarm.  uPVC windows are fitted throughout, all the walls have been re-plastered, all the wiring has been replaced, the floors of the building is tile and laminate, heating through radiators and electric showers. Electricity and gas are separately metered for each part.  


Location

The property is situated on a mixed use road in Hull amongst local shops and amenities and close to the City Centre. The open spaces of a Public Park are within easy reach. Transport links are provided by Hull Paragon International rail station and the M62 link to the wider motorway network.

Ground floor lock-up shop

Tenancy:
Ground floor lock up shop is on a 36 Month lease starting 1st November 2023 producing £6,600 per annum.

The eight flats are currently fully let as follows.

Flat Start Term Rent Deposit 1 23/04/2024 12 month £700 £900 2 20/04/2024 12 month £650 £650 3 31/01/2024 12 month £450 £450 4 01/03/2024 12 month £550 £550 5 01/02/2024 12 month £650 £600 6 20/07/2022 6 month £450 £450 7 01/01/2024 12 month £550 £520 8 01/03/2024 12 month £700 £700 Shop 01/11/2023 36 months £550 £2,000 Total Monthly Income £5,250 Gross Annual Income £63,000

SERVICES

Mains gas, water, electricity and drainage are believed to be connected to the property.  None of the services or installations have been tested.  Heating for the individual flats is from either gas boilers to radiators or electric panel heaters. 

TENURE

Freehold.  Vacant possession upon completion.

METHOD OF SALE

The property will be offered for sale by online auction with bidding commencing at 12.00 pm on Monday 22nd July 2024 and closing on Wednesday 24th July at 1.00pm. To register to bid and further legal information relating to this lot please go 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.

ADDITIONAL FEES

The purchaser will be required to pay an administration charge of 0.3% of the purchase price (0.25% plus VAT), subject to a minimum charge of £900 (£750 plus VAT), and a buyer's premium of £600 (£500 plus VAT) in addition to the purchase price of the property.

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.

DISBURSEMENTS

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

ONLINE BIDDING

If you want 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


NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Hull Station0.5 miles
  • Cottingham Station3.1 miles
  • New Holland Station3.3 miles

About the agent

Auction House, Driffield

56 Market Place, Driffield, YO25 6AW

Auction House, Driffield

Auction House Hull and East Yorkshire are a subsidiary of Dee Atkinson & Harrison who are a long established professional firm with a wealth of Auction experience covering not only residential property but agriculture, plant and machinery and commercial premises. We currently hold six property auctions a year and we have achieved excellent success rates that are above the national average. We credit this success to our professional advice and the exceptional customer service we provide.

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Notes

These notes are private, only you can see them.

Disclaimer - Property reference dah_885860550. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House, Driffield. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, Driffield on 01377 310913.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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