Commercial Property for sale

Cleethorphe Road, Grimsby, DN31 3AB

£925,000
5,292 sq. ft.

Property Description

Commercial information

  • 5,292 sq ft (491 sq m)

Key features

  • Prominent former car showroom mixed-use commercial investment located on a mainarterial route
  • Long Leasehold - new 99 year term to commence on completion at a ground rent of£9,500 per annum for uses within A1 A2 B2 & B8
  • Projected NTS rent in 2019 £67,712 (based on RPI All Items Index to July 2017 and assumedinflation at the current rate of 2.6% per annum)
  • Remainder of property let to established local business Flooring Express Limited who wereincorporated in 2005 at a rent of £30,500 due for review in July 2020 and expiring 1 July2025
  • Initial combined rental income (net of ground lease rent) £81,804 per annum reflecting anet initial yield of circa 8.39% (after deducting 5.36% purchaser's costs)
  • Anticipated combined rental income (net of ground lease rent) £88,712 per annum inJanuary 2019
  • Anticipated reversionary yield in 2019 of 9.1%
  • Offers invited in excess of £925,000 Subject to Contract

Full description

Tenure: Freehold

The single storey property is of a modern, steel portal
framed construction under a pitched roof with steel profiled
panels. The external walls are predominately brick to
approximately 2.5m height; and thereafter metal cladding.
The property is split into two; the first element (occupied
by National Tyres) includes a modern reception area, rear
workshop with vehicular access and a yard. The second
element (occupied by Flooring Express) includes a modern
retail showroom/trade counter, incorporating a reception
and auxiliary staff/office areas plus parking


More information from this agent

Nearest stations

  • New Clee (0.1 mi)
  • Grimsby Docks (0.7 mi)
  • Grimsby Town (1.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fairhurst Estates Ltd, Stockport

Fairhurst House, 7 Acorn Business Park, Heaton Lane, Stockport, SK4 1AS

0161 468 0786 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

  • New Clee (0.1 mi)
  • Grimsby Docks (0.7 mi)
  • Grimsby Town (1.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fairhurst Estates Ltd, Stockport

Fairhurst House, 7 Acorn Business Park, Heaton Lane, Stockport, SK4 1AS

0161 468 0786 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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