Retail premises for sale in Piggy Lane, Withernsea HU19
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Property features
- Town centre location adjacent to Aldi supermarket.
- Within walking distance of Withernsea's amenities.
- Total size 5,507 Sq.ft. Situated on 0.45 Acres (0.18Ha).
- Part let with current income £23kpa potential to rise to circa £45kpa fully let.
Property description
The property comprises of a large ground retail unit formerly used as Withernsea Indoor Market Centre with the potential to accommodate 2-3 occupiers. Currently the property is 1/3 occupied and producing £23k per annum by way of licence agreements with scope to see the entire income once fully let and occupied to be in the region of £45k per annum. The remaining available space has potential to appeal to a variety of retail and leisure users including light industrial uses subject to planning.
The property also has access and use of the car parking fronting the Aldi supermarket with the added benefit of rear parking and access from Piggy Lane. The entire property is of interest to investors seeking to grow and enhance the income potential and additionally the property could appeal to developers who may seek to transform the future use of the site as there has been a previous planning application to convert to residential.
Offers are invited in the region of £450,000 for the freehold interest. Based on the estimated income once fully let, a purchase at his level could produce a net initial yield of 9.63% assuming acquisition costs of 3.8%. Viewings to be made by prior appointment through us as sole selling agent.
Property info
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact
Barker Property Consultants, HU15 on +44 1482 535534 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Barker Property Consultants, and do not constitute property particulars. Please contact Barker Property Consultants 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.