2 bedroom commercial property for sale

166 168 Yarborough Road, Grimsby, Lincolnshire, DN34

Guide Price £340,000
1,394 sq. ft.

Property Description

Commercial information

  • 1,394 sq ft (129 sq m)

Key features

  • MULTI LET INVESTMENT OPPORTUNITY
  • GENERATING AN ANNUAL INCOME OF 28,120
  • TWO FIRST FLOOR ONE BEDROOMED SELF CONTAINED FLATS
  • TWO GROUND FLOOR RETAIL UNITS BOTH LET ON FRI LEASE TERMS
  • BUSY MIXED SHOPPING FACILITY LOCATION

Full description

Tenure: Freehold

The property is situated within a busy mixed use shopping facility location servicing a high density residential area on the north side of Yarborough Road Grimsby, approximately one mile west of the town centre.

The location has a variation of users, including retailers, sandwich shop as well as hot food takeaway's, opposite is a further shopping parade, including Spar supermarket.

Description
The property comprises a detached, traditional brick built mixed use building, set under pitched tile roofing with shared parking to the rear of the premises, access is by way of an eight foot to the left elevation of the property. Incorporating two separate self-contained, one bedroomed flats to first floor, both held on Shorthold Tenancy Agreements at a combined annual rent of 8,840 as well as two separate retail units to the ground floor, Orchard Flowers occupy 166 Yarborough Road at a passing rent of 7,800 per annum, held on FRI lease terms, expiring November 2021, Grab and Go Sandwiches occupy 168 Yarborough Road, recently assigned at a passing rent of 10,400 p.a, expiring November 2017, new lease terms to be negotiated upon, separately garage, let on a two year Licence Agreement at a passing rent of 480 p.a, expiring May 17, new terms have been agreed for a further two year term, advertising Panel, let to Clear Channel UK Ltd, at an annual rent of 600, let on a Licence Agreement, expiring April 2022.

Accommodation
Ground Floor Retail Unit's
Shop 166 94.7 sq m (1,019 sq ft)
Shop 168 34.9 sq m (375 sq ft)
Customer forecourt to the front elevation of the property with a shared tenant parking facility to the rear.
First Floor
Flat 166A 37.5 sq m (403 sq ft)
Flat 168A 33.1 sq m (356 sq ft

Con't
Detached Garage (to the rear of the property)
Adverting Panel (fronting Yarborough Road)

Disposal Terms
The investment is available For Sale with an asking price of 340,000 which reflects a yield of approximately 9%. A copy of the lease's and agreements are available upon request.

Legal Costs
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 for ground floor retail unit of 166 Yarborough Road is 4,430, 168 Yarborough Road at 3,529. Both flats are listed under the Band A assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change and the rates payable can vary due to changes in transitional relief.

EPC'S
A copy of the EPC's are available for inspection at the Agent's offices

Viewing/Further Information
Strictly through sole agents, Lovelle Bacons LLP.
Lovelle Bacons
Tel: 01472 353436 Ext 302
E-mail: l.croft@lovelle-property.co.u


Nearest stations

  • Grimsby Town (1.1 mi)
  • Great Coates (1.2 mi)
  • Grimsby Docks (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lovelle Estate Agency, Grimsby -Commercial Sales

Hampton House Church Lane Grimsby DN31 1JR

01472 565036 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Grimsby Town (1.1 mi)
  • Great Coates (1.2 mi)
  • Grimsby Docks (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lovelle Estate Agency, Grimsby -Commercial Sales

Hampton House Church Lane Grimsby DN31 1JR

01472 565036 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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