For sale by online auction on 20th March 2024 - Reduced Guide Price £50,000 - £55,000 A NEIGHBOURHOOD RETAIL UNIT WITH LIVING ACCOMMODATION. VACANT SHOP AND UPPER FLAT + GROUND FLOOR FLAT LET AT £3,900 PA. SUIT INVESTOR OR OCCUPIER.

This part let investment opportunity is a traditional mid terraced mixed use building set within a small parade of neighbourhood shops and comprises a ground floor lock up shop unit with the remainder of the building divided into two one bedroomed flats. A larger first floor flat, along with the shop, is vacant and these parts could readily be occupied as a live-work unit although are currently each self contained and separated. Upgrading of the living accommodation is required. The rear ground floor living space is let on an assured shorthold tenancy and we understand the rent passing is £3,900 per annum.

Tenure

Freehold

Location

Corporation Road is a busy thoroughfare under a mile north west of the town centre and a short distance from the A180, leading to the motorway network. The locality is a mixture of housing and business premises.

Accommodation

RETAIL UNIT Sale shop, kitchen with sink unit and separate WC. Ground Floor Flat: (Not inspected.) Understood to comprise a bedroom, kitchen, living room and bathroom. First Floor Flat: Landing, living room, bedroom, bathroom / WC and kitchen. EXTERNAL Access to the flats is via a rear right of way and shared yard area which also contains a store building (approx. 80 sq. ft. / 7.4 sq. m.).

Tenure

Freehold, subject to existing tenancy.

Services

All mains services are connected to the property. None of the services or installations have been tested.

Business Rates

Rateable value £2,475.

Viewings

Strictly by appointment through our Beverley Office on 01482 866844.

Method of Sale

The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 18th March 2024 and closing on Wednesday 20th March at 1.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire.

Conditions of Sale

The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer’s offices, with the solicitors and on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.

Guide Price

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Council Tax is payable to the North East Lincolnshire Council. Each of the flats are shown in the Council Tax Property Bandings List in Valuation Band A (verbal enquiry only).

Solicitors

Squire Patton Boggs (UK) LLP, Rutland House, Birmingham, B3 2JR. , Ref: Katie Norris, Tel: Telephone: 01212 223393. Email: katie.norris@squirepb.com

Offered in association with

Sanderson Weatherall

Additional Fees

Buyer's Premium - A buyer’s premium of 1.2% of the hammer price (1% plus VAT) subject to a minimum of £900 (£750 + VAT) in addition to the purchase price of the property.

Administration Charge - The purchaser will be required to pay an administration charge of £900 (£750 plus VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.