Lot 7 - 787 Hessle Road, Hull, North Humberside, HU4 6QE
- Unconditional Online Auction Sale
- Guide Price* : £65,000 plus
- Commercial and residential investment
- Let at £7,200 per annum
- Convenient location
- Trading as a barber shop
- Potential to split at a later date
ON BEHALF OF THE FIXED CHARGE RECEIVERS: Mixed use investment let on a single lease at an annual equivalent rent of £7,200
Description
The property comprises a mid terrace mixed use property, with the ground floor currently trading as a gentlemen's barber shop and there is a flat to the rear of the ground floor and above. The ground floor is configured with a sales area at the front, as storage/office to the rear with a WC and then at the rear of the property is a kitchen. Steps lead from the kitchen up to the first floor where there is a shower room and a further 3 rooms. Whilst in occupation by a single tenant, the door between the retail element and the kitchen could easily be secured to allow two separate lettings in the future. The owner has installed an external heat source pump and solar panels. The whole property is let on a single lease at a rent of £7,200 per annum and will be sold with the tenant 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 (Barbers): 53.37 sq.m (577 sq. ft)
Part Ground Floor and First Floor(Flat): 71.71 sq.m (772 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 whole property is let on a lease expiring 01/12/2025 at £7,200 per annum, with a 5 year rent review pattern. It appears a review was due on 1/12/24, but it appears it is outstanding.
EPC
Energy Performance Asset Rating Flat - C and the Commercial- B
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.
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