Lot 6 - 803 Hessle Road, Hull, North Humberside, HU4 6QE
- Unconditional Online Auction Sale
- Guide Price* : £75,000 plus
- Commercial and residential investment Let at £11,600 per annum
- Separate tenants for the shop and flat
- Convenient location
- Trading as a takeaway
ON BEHALF OF THE FIXED CHARGE RECEIVERS: Mixed use investment let on at a combined annual equivalent rent of £11,160
Description
The property comprises a mid terrace mixed use property, with the ground floor currently trading as a takeaway and there is a separately accessed flat to part of the ground floor and the remainder is above. There is also a rear single storey storage building at the rear of the yard that is included with the retail element.
The ground floor is configured with a sales counter area at the front, kitchen and food preparation areas to the rear. The flat has a kitchen at the rear of the ground floor, then at first floor is bathroom and a further 3 rooms. The whole property is let, with a commercial lease for the takeaway and an AST for the flat at an annual equivalent rent of £11,160 and will be sold with the tenants in situ.
Location
Fronting Hessle Road in an established and busy location for commercial uses and approximately 2 miles to the west of the city centre.
Tenure
Freehold.
Accommodation
We detail below the following gross internal areas:
Ground Floor (Takeaway): 57.85 sq.m (623 sq. ft) - plus the rear storage building
Part Ground Floor and First Floor(Flat): 77.46 sq.m (834 sq.ft)
Outside
Rear yard.
Tenancies
Please note that the Receiver has not adopted their powers of management over the property and have agreed with the borrower that they will continue to manage the properties and collect the rent until they are sold. Therefore the tenancy and rent information is based upon information provided by the borrower and cannot be verified by the Receiver. The copy documents supplied will be in the Legal pack.
We understand that the retail element is let from from 01/08/2023 to 01/09/2029 at £530 per month with a 5 year rent review pattern and the flat is let on an AST that has expired, meaning the tenant occupies under a statutory periodic tenancy. We have been informed the monthly rent is £400 and therefore the combined annual equivalent rent is £11,160.
EPC
Energy Performance Asset Rating Flat - D and the commercial C
Buyers Administration Fee
There will be a Buyer's Administration Fee of £2,400 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every 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.
Loading the bidding panel...
Additional Documents
Office Contact
Important Documents
Agreement Documents
Related Documents
Legal Documents
Log in to view legal documentsShare
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.