Retail premises for sale in Grimsby Road, Cleethorpes DN35
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- Investment Opportunity
- Incorporating two flats and two retail premises
- Planning consent for a further two one bedroom flats
- Potential for £21,500 per annum once fully let
Property description
The accommodation comprises two traditional brick built two storey property that provides two self-contained one bedroomed separate flats (one currently vacant) some works are required, held on Shorthold Tenancy Agreements along with two ground floor retail units held on Fri lease terms at a combined rent of £5,850, There is previous approved planning consent provided for a further two, one bedroomed dwellings located on Phelps Street elevation of the investment. Planning application number DM/0556/17/ful. This was approved in June 2017.
The ground floor commercial units are held on Fri lease terms, expiring February 2025 & one currently vacant at a combined passing rent of £5,850 per annum when fully let. The flats are held on Shorthold Tenancy Agreement at an annual rent of £3,900 (rising to £7,800 per annum once fully let), the planning consent for a further two dwellings have a potential market value of £3,900 each per annum, with a potential for a fully let annual income of £21,450.
The approximate accommodation comprises:
49 Retail Unit (gf)
Shop Approx. - 704 sq. Ft (65.4 sq. M)
WC
51 Retail unit (gf)
Shop Approx.- 292 sq. Ft (27.1 sq. M)
WC
Flat 1 (currently vacant)
Lounge, Kitchen, one Bedrooms, Bathroom
Flat 2
Living Room, one Bedroom, Kitchen, Bathroom
Rent at £75 per week (£3,900 per annum each)
The investment opportunity is available For Sale with an asking price of £145,000.
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 £3,500 for the retail unit 49 Grimsby Road & £2,150 for the retail unit at 51 Grimsby Road, all flats are listed under the Band A assessment. Interested parties are advised to confirm this with the Local Authority.
Property info
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact
Cleethorpes Properties, DN31 on +44 1472 467137 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Cleethorpes Properties, and do not constitute property particulars. Please contact Cleethorpes Properties for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.