125-127 Grimsby Road, Cleethorpes, DN35 7DG

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 a convenience store, with 2 No. ground floor self-contained one bedroom flats and 2 No. self-contained two bedroom flats.

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 284.58 sq m (2,244 sq ft) approx.
• Total income of £23,670 per annum (8.84% Net Initial Yield).
• Freehold premises subject to existing Lease and Assured Shorthold Tenancies.
• Ground floor convenience store currently Let at £5,196 pax, subject to a 10 year Lease which expires 20.08.2030.
• 4 no. flats Let on Assured Shorthold Tenancies generating a combined income of £18,474 pax.

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