A fantastic opportunity to purchase this mixed use premises, located in the heart of Grimsby on Freeman Street. Nearby Vendors include Boots, Asda supermarket and Wilkos.
The property is within close proximity to Freshney Place shopping centre and benefits from good transport links to and from Cleethorpes.
The property comprises of a well proportioned ground floor retail area approximately 62.89sqm/676sqft in size, comprising of 2 w.c.'s and a generous sized basement of 48.51sqm/522.15 sqft. The property comes with 2 x 1 bedroom, flats which are currently let at £75 and £60 per week respectively, equating to £7,020 per annum. We anticipate the retail unit to generate an income of £4,800 per annum, which combined generates an income of £11,820 per annum. At the current asking price, this represents a yield of just shy of 10.3%, making this an extremely attractive investment opportunity.
VIEWING IS HIGHLY RECOMMENDED FOR THIS EXCEPTIONAL OPPORTUNITY.
Ground Floor - Retail Unit 36'1" x 16'6" (11m x 5.03m). These premises have a number of different uses, subject to relevant planning consent. The unit comprises of a uPVC double glazed window frontage as well as entrance door off Freeman Street and has carpeted flooring throughout and a suspended ceiling.
W.C. With w.c. and hand basin.
W.C. With w.c. and hand basin.
Basement 33'10" x 15'10" (10.3m x 4.83m). This could be used for an abundance of different uses.
First Floor Flat - 4AEntrance Hallway With a front door leading onto the communal hallway.
Living Room 13'1" x 8'2" (4m x 2.5m). With a uPVC double glazed front window and electric storage heater.
Bedroom 8'2" x 13'5" (2.5m x 4.1m). With a uPVC double glazed window and an electric storage heater.
Kitchen 5'11" x 10'2" (1.8m x 3.1m). With wall and base units incorporating a basin and space for a cooker, washing machine and stand alone 'fridge-freezer.
Bathroom A three piece suite incorporating a bath, w.c. and a basin.
Tenancy The property is currently let for £60 per week (£260 per calendar month) on and Assured Shorthold Tenancy with the tenants being in situ since 2013 and wishing to remain.
Second Floor Flat - 4BEntrance Hallway With a uPVC double glazed window, under stairs storage space and stairs leading to the first floor accommodation.
Landing With a uPVC double glazed window and a storage cupboard.
Living Room 9'2" x 13'5" (2.8m x 4.1m). With a uPVC double glazed front window and an electric storage heater.
Bedroom 12'2" x 7'10" (3.7m x 2.4m). With a uPVC double glazed rear window and an electric storage heater.
Bathroom A large bathroom consisting of a bath and w.c. as well as a uPVC double glazed front window.
Cloakroom With a uPVC double glazed frosted window, pedestal basin and a w.c.
Kitchen 8'10" x 8'6" (2.7m x 2.6m). With fitted wall and base units incorporating a basin as well as space for a cooker, washing machine and 'fridge-freezer. Partially tiled with the "Britony II" boiler.
Loft Room 12'6" x 16'5" (3.8m x 5m). A boarded loft space with a timber "Velux" single glazed window.
Tenancy The property is currently let at £75 per week (£325 per calendar month) and the tenant has been in situ since the current owner purchased the property is 2012. The tenant, much like the flat below wishes to remain.
Communal Areas The two residential flats are located down a side alleyway to the left of 4 Freeman Street, which the leads access via a metal stairway to the two flats. To gain access to the two flats, one must walk across the flat roof of 6 Freeman Street, however we have checked there is right of way to gain access above this premises.
NOTE Please note this property sale is related to a member of staff at Jackson, Green and Preston.
Business Rates The rateable value as of 1st April 2017 is £1,200. All interest parties are advised to make there own enquiries.
Council Tax Band A (Each Flat) This information was obtained on the 17th August 2022 and is for guidance purposes only. Purchasers should be aware that the banding of the property could change if information is brought to light that makes it clear to the Valuation Office Agency that an error was made with the original allocation.
Additionally, there may be circumstances when the Council Tax can be altered on change of ownership.
All interested parties are advised to make their own enquiries. See www.gov.uk/council-tax-bands
Property Management Are you a Landlord tired of dealing with your tenants?….Jackson, Green and Preston can provide a comprehensive management service and will be delighted to discuss your management needs. Please do not hesitate to contact our Property Management Department on Grimsby 311116 or by e-mail (rented@jacksongreenpreston.co.uk) for some informal advice. Further information is also available on our website at www.jacksongreenpreston.co.uk/info_landlords.php
Property To Sell Do you have a property to sell? For professional valuation advice, contact our Grimsby Office (01472 311120).
One of our experienced valuers will be happy to provide a free marketing appraisal of your property.
Surveys Should you decide to buy a property not available for sale through our Agency, Jackson Green and Preston offer a range of independent valuations and surveys all carried out by fully qualified Chartered Surveyors.
To discuss your survey needs, please contact our Survey Department on 01472 311120.
Sources Of Useful Information Purchasers may find the following websites useful in providing additional information in respect of the property and the immediate surrounding area.
www.environmentagency.gov.uk
www.hpa.org.uk
www.nelincs.gov.uk
www.northlincs.gov.uk
www.e-lindsey.gov.uk
www.landregistry.gov.uk
www.gov.uk/council-tax-bands
Mortgage Advice We are pleased to be able to introduce all of our clients to the UK's largest FEE FREE broker. In addition to being able to access hundreds of mortgages from over 80 lenders, any customer referred through our Agency also has the added benefit of FREE BUYERS INSURANCE for their onward purchase. For more details, please contact our office on 01472 311 113
https://www.landc.co.uk/online/mortgage-finder?icid=2123
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This is a Freehold property.
