King Edward Street, Kingston Upon Hull, City Of Kingston Upon Hull

Investment/Conversion Opportunity
City centre ground floor shop with 2 vacant upper floors
Ground floor sales/ancillary 50.2 sq m (540 sq ft)
First floor plus half landing 67 sq m (720 sq ft) GIA
Second floor 53 sq m (570 sq ft) GIA
The shop is let on a contracted out lease until Feb 2027 at £13,000 p.a.exc
The upper floors with separate front entrance are in need of refurbishment
Guide Price £175,000

LOCATION/DESCRIPTION

The property is centrally positioned on the pedestrianised King Edward Street which links to Prospect Street and Jameson Street within Hull city centre. The property is shown highlighted in red on the Goad plan.

The property is built to three-storey height providing a ground floor shop with a separate front entrance to first and second floor accommodation. The shop which benefits from a full height display front with security shutter currently trades as A Q Pouch House, a mobile phone repair/accessories shop. The upper floors could suit self-contained offices or residential accommodation subject to refurbishment and refitting.

ACCOMMODATION

Ground Floor
Sales 39.0 sq m (420 sq ft)
Rear ancillary/staff/admin & kitchen area 11.2 sq m (120 sq ft)
WC - -

Upper Floors (Gross Internal Areas)
Half landing incorporating WC & storage/potential kitchen area 14 sq m (150 sq ft)
First Floor – 2 rooms & stairwell 53 sq m (570 sq ft)
Second Floor – 2 rooms & stairwell 53 sq m (570 sq ft)

RATEABLE VALUE

Ground floor described as ‘Shop & Premises’ with a RV of £11,000. Upper floors described ‘Rooms’ with a RV of £2,800 (2026 Rating List).

Under current legislation, a qualifying small business will benefit from full rate relief. Rateable values less than £2,900 do not attract any empty rate liability.

DISPOSAL/LEASE TERMS

The freehold property, producing a rent from the ground floor of £13,000 per annum exclusive on a contracted out lease term expiring 04/02/27 together with the vacant upper floors, is offered For Sale at £175,000.

LEGAL COSTS

Each party will be responsible for its own legal costs with the purchaser responsible for any Stamp Duty Land Tax and any other costs and charges that may be payable in connection with the acquisition.

ENERGY PERFORMANCE RATING: ‘C’ valid until 26 March 2033

FURTHER INFORMATION AND TO VIEW

Contact Chris Mason