Maisonette for sale

Quay Road, Bridlington, East Yorkshire YO16

Income-producing mixed-use investment comprising a tenanted retail unit and three-bedroom maisonette, offering immediate returns, a contracted rental uplift from year two, and potential gross yields of up to 13.6% based on a purchase price of £115,000.

A fantastic opportunity to acquire a three-storey mixed-use investment property offering immediate income together with excellent scope for future growth.

The ground floor comprises a lock-up retail unit with kitchenette and WC facilities to the rear. The premises are let on a new five-year lease commencing in 2026, generating £275 per calendar month during year one and increasing to £550 per calendar month from year two, providing a built-in uplift in income.

The upper floors comprise a self-contained three-bedroom maisonette accessed via a side passage and rear entrance. Benefitting from uPVC double glazing and electric heating, the accommodation includes a living room, kitchen, three bedrooms and bathroom/WC. The property is occupied by a long-standing tenant of over five years currently paying £450 per calendar month.

The residential rent is considered below current market levels for similar three-bedroom accommodation in the area, presenting potential for future income growth, subject to legislation and agreement with the tenant.

Based on a purchase price of £115,000, the property currently produces approximately £8,700 per annum, equating to a gross yield of around 7.6%. Once the commercial rent increase takes effect, the income rises to approximately £12,000 per annum (10.4% gross yield). There is further potential to enhance returns, with gross yields potentially exceeding 13% should the residential rent be brought in line with market levels over time.

Over the initial five-year lease term, the property is projected to generate in excess of £56,000 in gross rental income at current residential rent levels, representing almost 50% of the purchase price returned through rental income alone. Should the residential rent be increased towards current market levels over time, the total five-year income and overall return could be significantly enhanced.

Notably, this projected return is based purely on rental income and excludes any capital growth, presenting the potential for an even stronger overall return on investment over the holding period.

Rateable Value (Ground Floor): £4,200 per annum.
Council Tax Band: A.

Please note: Photographs were taken during occupation by the previous commercial tenant. Updated images of both the retail unit and residential accommodation will be available shortly.

Investment opportunity.................
This three storey mid terraced property has been converted to create a ground floor lock up shop with Kitchenette and WC to the rear. A side passage leads to the Rear Yard with access to a self contained maisonette with electric heating and UPVc Double Glazing, which briefly consists of Living Room, Kitchen, 3 Bedrooms and Bathroom / WC.
The shop is leased at £220 per calendar month, exclusive, and the flat is let at £350 per calendar month and the sale is subject to the lease and tenancy.