Retail premises for sale in Cliff Street, Bridlington YO15

Investment Consideration:
Rental Income: £27,840 p.a.
Erv: £35,840 p.a. Giy: 15.93%
VAT is not applicable to this property
Total commercial gia: 290 sq m (3,125 sq ft)
Comprises 3 retail shops at ground floor and 9 residential flats on upper floors (sold-off)
Two of the shops let to William Hill and Premier Convenience Store. One shop currently vacant
Situated less than 100m from Bridlington Harbour. Nearby occupiers include Boots, Costa Coffee and Domino's Pizza.

Property Description:
Comprises double fronted retail shop t/a William Hill (6 Cliff St), retail shop t/a Premier Convenience Store (3 Prince St) and a large vacant retail shop (2 Prince St). The property also includes residential flats on upper floors which have been sold-off on long leaseholds, providing the following accommodation and dimensions:

Ground Floor:
No. 6 Cliff Street: Retail Shop t/a William Hill 110 sq m (1,184 sq ft)
No. 3 Prince Street: Retail Shop t/a Premier 55 sq m (592 sq ft)
No. 2 Prince Street: Vacant Retail Shop 125 sq m (1,349 sq ft)
Upper Floors: 9 Flats (sold-off)

Tenancy:
Shop No. 6 Cliff St is at present let to William Hill Organization Ltd for a term of 10 Years from 4th June 2018 at a current rent of £17,750 p.a. And the lease contains full repairing and insuring covenants. Rent review 2023 outstanding. Break clause in 2023 not exercised.
Shop No. 3 Prince St is at present let to an Individual from 10th July 2018 to 24th March 2033 at a current rent of £10,000 p.a. And the lease contains full repairing and insuring covenants. Rent review 2023 outstanding. No breaks.
Upper floors residential flats have been sold on long leasehold for a term of 125 Years from 29th September 2002 at a ground rent of £90 p.a. Fixed increase to £225 p.a. In 2052.

Location:
Bridlington is a town and civil parish in the East Riding of Yorkshire, England. The town has two main centres; the old town with a priory and the coastal resort with a harbour. The town is about 28 miles north of Hull and 34 miles east of York. The property is situated less than 100m from Bridlington Harbour. Nearby occupiers include Boots, Costa Coffee and Domino's Pizza.