199 Grimsby Road, Cleethorpes, DN35 7HB

Location

The property comprises a mid-terraced two storey mixed use premises of masonry construction surmounted by a pitched tiled roof. The ground floor provides a self-contained retail unit that is currently used as hair salon and a separate self-contained 1 bed flat, with the first floor comprising a self-contained two-bedroom flat with courtyard/garden area.

This property currently forms part of a larger property portfolio consisting of various mixed-use properties situated along Grimsby Road, Cleethorpes. The property can therefore be transacted individually or as part of a portfolio sale.

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Summary

Key points

• Two storey mixed use premises totalling 168.40 sq m (1,813 sq ft) approx.
• Total income of £13,476 per annum (10.62% Net Initial Yield).
• Freehold premises subject to existing Lease and Assured Shorthold Tenancies.
• Ground floor shop (Hair Salon) currently Let at £4,650 pax subject to a 5 year Lease which expires 24.09.2028.
• Ground floor flat Let by way of an Assured Shorthold Tenancy (AST) at a rent of £3,600 per annum.
• First floor flat Let by way of an Assured Shorthold Tenancy (AST) at a rent of £5,196 per annum.

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