Ground floor retail space with three flats above - For sale by auction
The accommodation comprises a ground-floor retail space fronting onto Cleethorpes Road, currently let on a 3-year FRI lease term which is currently holding over, with a rent of £1,560 per annum. On the upper floors are three, two-bedroom self-contained flats two of which are vacant and one is let on a shorthold tenancy agreement, generating £80 per week (£4,160 per annum). The other two vacant flats have previously been let at similar levels. Total potential income is therefore £14,040 per annum.
Location
The investment is located on the busy thoroughfare of Cleethorpes Road, Grimsby leading to both the town centres of Grimsby and Cleethorpes. Holding a highly visual position within a busy mixed-use parade, lying close to the main A180/M180 motorway system and has access from Strand Street to the rear of the premises.
Accommodation
The approximate accommodation comprises:
Ground Floor
Retail 119 sq m (1277 sq ft)
First Floor
Flat one - two bedrooms, lounge, kitchen & bathroom
Second Floor
Flats 2 & 3 - two bedrooms, lounge, kitchen & bathroom.
Viewing
Strictly by appointment with the Auctioneers on 0845 400 9900 or the Joint Agent: Sanderson Whetherall on 01482
645 522
Services
Mains Water and Electricity are known to be connected.
Tenure
Freehold with vacant possession upon completion.
Council Tax: & Business Rates
We are advised by North East Lincolnshire Council that the Rateable Value is £4,900 for the ground-floor commercial unit. All three flats are listed under the Band A assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change, and the rates payable can vary due to changes in transitional relief. The tenant of the ground floor is responsible for paying the business rates
Joint Agents
Sanderson Whetherall, 20 The Weir, Hessle, HU13 0RU Tel: 01482
645 522 FTAO Mr Carl Bradley.
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 29th September 2025 and closing on Wednesday 1st October 2025 at 1.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire.
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer’s offices, with the solicitors and on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.
Additional Fees
The purchaser will be required to pay an administration charge of 0.3% subject to a minimum of £900 (£750 plus VAT) and a buyer’s premium of £900 (£750 + VAT) in addition to the purchase price of the property.
Guide Price
Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each 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.
Disbursements
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Solicitors
Squire Patton Boggs, Rutland House, 148 Edmund Street, Birmingham, B3 2JR. Tel: 0121 222 3000. Ref: Emily Davis
Online bidding
If you want to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process: youtube.com/watch?v=ImXr4HXR36c
Tenure : Freehold
Council Tax Band : A
