A mixed-use property providing scope for improvement of two of the four units, but providing a high-yield investment opportunity, having been fully let until recently and producing just over £16,500pa gross.

This is a mixed-use, primarily residential investment property, being sold with vacant possession upon completion (see Tenure Section for details). The property is now ready for a programme of updating and redecoration but offers a fantastic opportunity for investors to create a high-yield multi-let unit. The ground floor comprises a lock-up shop unit let for £60 pw and a one-bedroom self-contained flat that is let, but the tenant is being rehoused by the council due to a disability. On the first floor is another one-bedroom flat, and the top floor is a two-bedroom flat. All flats have uPVC double glazing and individual gas boilers for the central heating. There is also a cellar, which is useful for storage. The upper-floor flats would now benefit from replacing the kitchen and bathroom fittings, redecoration, and new floor coverings. Before becoming vacant, the fully let property produced a gross income of £16,500 p.a with rents not having been increased for many years.

Tenure

Freehold

Location

123 Hilderthorpe Road is situated in a convenient and established position on the southern side of Bridlington town centre, within easy walking distance of the town’s principal shopping and leisure facilities. Bridlington railway station is approximately 0.2 miles away, while a good range of supermarkets and everyday amenities are also close at hand. Bridlington is a popular and well-established East Yorkshire coastal resort, offering extensive sandy beaches, a working harbour and a wide range of tourist, leisure and retail facilities. The property is also well placed for access to the seafront and South Beach, while Hilderthorpe Road provides convenient road links south towards Carnaby and the A614, giving access to Driffield and the wider East Riding.

Accommodation

Accommodation Ground Floor Lock-up Shop The shop unit is currently let at £60 per week £3,120pa but the lease is due to be renewed before completion of the sale. If the tenant decides to vacate, the premises will be sold with Vacant possession. The shop provides 18.82sq m (202 sq ft) of retail space. There is also a small kitchenette and WC. Ground Floor Flat Living Room, hall, kitchen, bedroom, bathroom. Tenancy The ground floor flat is let on an assured shorthold tenancy; however, the tenant is disabled and has been served a Section 8 notice to help him secure more suitable council accommodation. If this has not occurred before the completion date, this flat will be sold subject to the existing tenancy agreement. First Floor Flat Landing, living room, kitchen, bedroom, bathroom. Second Floor Flat Landing, living room, kitchen, two double bedrooms, bathroom. Cellar There is a cellar beneath the shop that is accessed from an external metal hatch.

EPC's

Current ratings: GF Flat C (73) FF Flat C (70) SF Flat C(70) Shop TBC

Services

It is understood that mains drainage, gas, water and electricity are laid to the property. There is central heating to radiators in each flat with individual boilers serving each unit. Windows are double glazed with uPVC framed sealed units. None of the services or associated appliances have been checked or tested.

Council Tax and Business Rates

It is understood that the all flats are listed as being in Council Tax Band A, which is payable to the East Riding of Yorkshire Council. The ground floor shop has a rateable value of £1,500. Under current provisions, a small business may benefit from Small Business Rates Relief (subject to status).

Tenure

Freehold with vacant possession unless stated differently in the legal pack. N.B. Negotiations are currently taking place on the ground floor shop for possible renewal of the lease for 1 year, and a section 8 notice is understood to have been served on flat 1.

Viewing

Strictly by appointment with the auctioneers on 0845 400 9900.

Energy Efficiency Rating (EPC)

Current Rating C

Services

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

Local Authority

Hull City Council

Solicitors

Brewer Wallace, Hornsea, Ref: Bob Wallace, Tel: 01964 537856

Additional Fees

Buyer's Premium - The purchaser will be required to pay a buyer's premium of £1,200 (£1,000 plus VAT) in addition to the purchase price of the property.

Administration Charge - The purchaser will be required to pay an administration charge of 0.3% inc. VAT is subject to a minimum of £900 (£750 plus VAT) in addition to the purchase price of the property.

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

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