Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
Arranged as a ground floor retail unit with two flats to the upper parts, the property underwent an extensive refurbishment in 2022 and is currently let to two tenants.
The ground floor is let to to a private individual t/a Ojojoo Hair and Beauty Products on a recently signed three year lease expiring 08.02.2027 and paying £8,400 per annum. We understand the tenant runs a successful online business and principally uses the unit as a workshop, office and storage. We consider the property benefits from asset management potential via the renewal of this lease.
The upper parts comprise a two bedroom flat and a studio flat. Both flats are let on a single commercial lease to Lucky Move Limited, an established local estate agent, on a four year lease expiring 16.04.2027 and paying £14,000 per annum. Whilst the flats are held on a single lease we understand they have separate utilities meters and are sublet by the tenants. We consider there may be an opportunity to improve rental income via direct management and letting of these flats separately upon lease expiry.
The property benefits from a prominent frontage to Holderness Road, an arterial route comprising the main local retail amenity for the surrounding residential area.
Tenure
Freehold
Accommodation
Tenancy
Ground Floor
The ground floor is let to to a private individual t/a Ojojoo Hair and Beauty Products on a recently signed three year lease expiring 08.02.2027 and paying £8,400 per annum.
The lease is on full repairing and insuring terms and we understand a deposit of £1,200 is held.
Upper Parts
The upper parts comprise a two bedroom flat and a studio flat. Both flats are let on a single commercial lease to Lucky Move Limited on a recently renewed lease expiring 16.04.2027 and paying £14,000 per annum. We understand the tenant sub-lets the flats to occupational tenants.
The tenant is responsible for all internal repairs including common parts, we understand a deposit of £1,000 is held.
Rent
Notes
Joint Auctioneer
Joseph Bachman
07723 619 270
Please note the internal photos were taken prior to the tenants occupation.