* Calls to this number will be recorded for quality, compliance and training purposes.
Investment potential income £50,000 per annum.
Shop and bedsits
Well located property.
Prominent corner location to High Street.
Ground floor currently empty, nine separately accessed bedsits above.
Designed for easy management.
The subject property is situated in Scunthorpe which is the commercial centre of North Lincolnshire. Scunthorpe has a resident population of approximately 75,000 with industry, retail and amenities commensurate with its size.
The subject property is situated on High Street which is the main retail area of the town. To the eastern length of High Street is the Foundry and Parishes shopping centres and also areas of pedestrianisation.
The unit occupies a prominent corner location to High Street and Clarke Street which leads to a large Local Authority car park. In the immediately surrounding area are convenience stores, retail, cafes along with a wealth of local traders on Oswald Road, Dunstall Street and Laneham Street.
ground and part first floor
Retail unit previously occupied by the Money Shop which includes retail area, office, staff canteen, kitchen and WCs with an internal staircase to the first floor with two further offices.
Part first floor and second floor
Comprising of nine bedsits each room is fully fitted including sink units, heating via radiators. Corridors and bedsits have tiled floors. Communal bathrooms and kitchens to both floors.
Retail -38.20 sqm - 411 sq ft Plus - 8.76 sqm - 94 sq ft Staff room - 13.15 sqm - 141 sq ft Office - 9.76 sqm - 105 sq ft Lobby - 12.09sqm - 130 sq ft Kitchen - 6.40 sqm 68 sq ft 2 WCs
First floor part
Office 1 - 8.14 sqm - 87 sq ft Office 2 - 18.99 sqm - 204 sq ft
Total - 115.49 sqm - 1240 sq ft
First floor part second floor
9 bedsits, kitchens and bathrooms.
The ground floor is entered in the rating list as Shop and Premises. Rateable value £7,100 per annum. We understand that the bedsits are listed as a Band B. Interested parties are advised to contact the Local Rating Authority as to whether any rate relief is available.
It is understood that gas, electricity, water and drainage are connected to the subject property with the first and second floors having a separate supply for gas, electricity and water to the residential part. Services have not been tested and prospective occupiers are advised to check the adequacy of the supply for their intended use. Money Shop EPC C72.
The subject property is sold as an investment and therefore subject to the existing occupiers. The ground floor is vacant but previously occupied by the Money Shop who were paying a rent of £14,500 per annum. Part first floor and second floor nine bedsits £35,619 per annum. Landlord responsible for repairs, council tax, heating, power, cleaning and insurances. Therefore there is a potential income of around £50,000 gross.
For more information about this property, please contact Paul Fox Commercial, DN15 on +44 1724 377966 * (local rate)
Contact Paul Fox Commercial about this property
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