Mixed use property for sale
47 Grimsby Road, Cleethorpes
£66.97 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
2,165 sq ft
201 sq m
- SECTOR
Mixed use property for sale
Key features
- Value-Add Mixed-Use Investment Opportunity
- 2 x Retail Units and 2 x Flats to the Upper Parts
- Let to Three Tenants - One Retail Unit Vacant
- Evident Asset Management Potential Via Letting
- ERV Approx. £25,000 p.a. If Fully Let
- Investment Let at £14,431 p.a. (10% GIY on Guide Price)
- ERV Reflects 17.25% Gross Yield on Guide Price
Description
Arranged as two ground floor retail units with two separately accessed flats to the upper parts, the property is let to three tenants on separate leases producing a total rent of £14,431 per annum.
Unit 47D comprises a ground floor retail unit and is currently vacant. We therefore consider the property offers immediate asset management potential via letting of this space. We understand the property includes a small store/warehouse to the rear which could also be let separately, improving rents further.
We consider the estimated rental value (ERV) of the property to be in the order of £25,000 p.a. if fully let.
The property is situated on Grimsby Road, an established and popular location comprising the principal retail amenity for the surrounding residential area.
Brochures
47 Grimsby Road, Cleethorpes
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- New Clee Station0.2 miles
- Grimsby Docks Station0.9 miles
- Cleethorpes Station1.3 miles
Notes
Disclaimer - Property reference BDBE8449-0521-4920-9A00-81D16D4DF809. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Savills Auctions- Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.