Mixed residential / commercial investment opportunity (property only).

Excellent location close to Hull City Centre.

Long established Key Centre & Locksmith with shop front

Garage storage, workshop, kitchen & WC to rear

1^st floor, 2 bedroom apartment with separate entrance and roof terrace

Location

1.5 miles north-west of the Hull City centre.

Busy Avenue, with good footfall, close to a variety of retailers, the University of Hull, the MKM stadium and a popular shopping destination.

Description

Internal - Hull Key Centre Limited started trading in 1978 from these shop premises. It was one of the first dedicated shops in the locksmith trade offering a wide range of keys, safes and ironmongery. It has a strong reputation over the years for reliability and excellent workmanship and we pride ourselves on the vast range of key blanks. When the current business owner decided to sell the business, there is a good chance that a similar operator will step in.

Behind the shop front is a workshop and storage facility / garage with a garage door and secondary pedestrian access. The workshop area has kitchen facilities and a WC.

The first floor accommodation is currently occupied. It has its own entrance, is self contained and well presented.

 External - The premises are secured by and security shutter to the front.

Vehicular access is available to the garage at the side of the plot.

Terms

The commercial property is subject to a formal lease. The business will continue to operate for an indefinite term. The occupier has agreed to signing a 3-year lease to commence when the sale completes.

 Rents

The rent for the ground floor of the premises will be £700pcm. The 1st floor accommodation will be provided with vacant possession and an assumed rental value of £475pcm. The combined rental at these projections is £1175pcm (or £14,100pa).

Rates

The tenant will be responsible for the payment of any business rates and the tenant in the 1^st floor accommodation will be responsible for all bills associated with the accommodation.

We are led to believe that at the time of selling, the commercial premise benefits from full Business Rate relief.

(It is advised that confirmation of this amount and information relating to transitional relief or rating appeals be obtained directly from the relevant Local Authority).

Service charge

The ground floor tenant will be responsible for proportion of the external repairs and maintenance as deemed fair, in addition to heating lighting and management of common areas.

Repairs

The lease will be of a full-repairing nature; therefore the tenant will hold responsibility for internal repairs and decoration in addition to the property insurance premium for the duration of the lease.

 VAT

This property is not registered for VAT.