The property comprises a converted trade counter and warehouse unit originally occupied as a plumbing centre / builders merchants and has been occupied by the current business since 2004. The property is constructed with two adjoining steel portal framed building with concrete floors, block work walls to eaves and asbestos sheet cladding to the roof. The elevations visible from the highway have been overclad with modern profile metal cladding.
To the front of the building there is a good car parking and delivery area and a separate customer car park fronting on to Waterside Road. Additional photographs of the property can be seen on our website.
The property is let to South Humberside Industrial Sup- plies Limited by way of a lease dated 6 February 2019 for a term of 7 years at a rent of £24,000 per annum exclusive. The lease is on a full repairing and insuring basis. There is no rent review. The tenant company was incorporated in May 1994 and provides personal protective equipment and clothing to industry. See www.shisupplies.co.uk for more information. Experian Business Express shows a score of 92 – Very Low Risk.
The property has been measured on a gross internal area basis comprising trade counter and two warehouse areas of 488.19 sq m (5,255 sq ft).
The property is being offered for sale freehold, subject to tenancy, at £245,000. The purchase price reflects a net initial yield of 9.3% having allowed for purchasers costs of 5.25%.