Ground floor retail premises & upper floor flat with car parking
Shop and flat with, independent access, separately let
Combined gross income £10,920 per annum
Shop let until 2029
No rates payable to a qualifying small business
The subject property is situated in Keyingham, a ‘Rural service Centre’ and one of the larger settlements in the Holderness area located c.12 miles to the east of Hull city centre. The property is located fronting Main Street (A1033), which serves as the principal transport route connecting Hull, Withernsea and the wider Holderness area. The position contains a mix of residential properties with some commercial operations, being mostly local/independent operators as well as a Co-op.
Description
The property comprises a retail shop with an open plan sales area. Located to the rear are WC facilities and an integral single garage. A separate door from the parking/garden area accessed from Station Road provides access to the hallway and staircase into the residential accommodation above. The property benefits from double glazing in part with the majority being uPVC double glazed. The premises are heated via an oil fired central heating boiler to wall mounted radiators. On the second floor is a uPVC conservatory with access to a large roof garden surfaced with artificial turf.
Accommodation
Ground floor retail and rear office | 46.2 sq m | (498 sq ft) |
First floor – 3 bed flat | 63.5 sq m | (685 sq ft) |
Second floor – conservatory | 21.0 sq m | (228 sq ft) |
Terms
The property is offered For Sale freehold subject to the current tenancies at a guide price of £125,000.
TERMS OF OCCUPATION
Ground Floor Let on an effective full repairing and insuring lease from 14 October 2024 for 5 years (expires 13 October 2029) at a rent of £4,620 per annum exclusive.
First Floor Let on an Assured Shorthold Tenancy at a monthly rent of £525 p.c.m. (annual equivalent of £6,300 per annum)
Total Gross Income £10,920 per annum
RATEABLE VALUE/COUNCIL TAX
The commercial element of the property has a Rateable Value of £2,375. Under current legislation, a qualifying small business will benefit from full rates relief. The residential element of the property is in Council Tax band ‘A’.
ENERGY PERFORMANCE RATING: Retail: Needs reassessing/Flat: E (49)
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