DDM Residential are pleased to market via the modern method of auction a fantastic investment opportunity.
Believed to have been built around 1878 and linked to the formation of Grimsby town F.C, this fantastic investment offers the chance to own a piece of Grimsby heritage.
The property consists of a range of commercial and residential properties located within the bustling “Freeman street” retail area.
The commercial element of the property comprises of popular public house with open lounge/ pool room and cellar, with 2-bedroom managers flat above.
The four shops currently all let, front onto Freeman Street and have access to private parking at the rear. The residential side of the property comprises of 2 x 2-bedroom first floor flats (currently let) each having their own rear access.
This portfolio is now being sold due to our client’s personal commitments. Further details of rent currently achieved can be obtained from DDM Residential.
*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the auction, which is powered by IAM Sold.
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.
The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.
PUBLIC HOUSE LOUNGE / POOL AREA 13.303 x 10.343 - With dual aspect windows and timber porch door to the side aspect, Gas central heating, fully fitted bar with access to cellar, male and female toilets, door to beer garden and a secure enclosed carpark. There is also access via timber gate to beer garden. FIRST FLOOR LANDING Doors to two bedroom apartment and separate office. OFFICE 14' 9" x 12' 1" (4.5m x 3.68m) With a window to the front elevation, neutrally decorated and carpeted. FLAT Having access to two bedrooms, bathroom, reception three and roof terrace. LOUNGE 18' 5" x 15' 3" (5.61m x 4.65m) With dual aspect windows, carpeted, wall mounted radiator and neutrally decorated. KITCHEN 6' 11" x 11' 9" (2.1m x 3.58m) With a window to the side elevation, range of wall and base units with complimentary roll over work surface, incorporates a four ring gas cooker, chrome extractor fan over, oven/grill under, stainless steel sink and drainer, space for under counter fridge and freezer, plumbing for washing machine and open to dining room. DINING ROOM 7' 1" x 12' 1" (2.16m x 3.68m) With window to the rear elevation, wall mounted radiator and neutrally decorated. RECEPTION THREE 11' 7" x 15' 1" (3.53m x 4.6m) Having windows to the side elevation, carpeted, wall mounted radiator, tiled fireplace, (no fire in situ). BEDROOM ONE 11' 1" x 11' 11" (3.38m x 3.63m) With window to the side elevation, wall mounted radiator, carpeted and neutrally decorated. BEDROOM TWO 12' 5" x 8' 1" (3.78m x 2.46m) With window to the rear elevation, carpet and radiator. FLAT ONE (Currently let) Accessed via the enclosed rear carpark, via a timber door, wrought iron staircase, courtyard and brick built outbuilding and onwards to the front door. ENTRANCE HALLWAY With doors leading to lounge, kitchen, two bedrooms and bathroom. LOUNGE 12' 2" x 11' 9" (3.7m x 3.58m) With laminate flooring, wall mounted radiator, ceiling fan with light, double glazing to the front elevation. KITCHEN 7' 7" x 9' 4" (2.3m x 2.84m) With a range of wall and base units, complimentary roll over work surface, incorporates a four ring gas cooker with extractor fan over, oven/grill under, stainless steel sink and drainer, space for fridge freezer and plumbing for washing machine and window to the rear elevation. BEDROOM ONE 3.58mx x 2.74m - With window to the front elevation, wall mounted radiator and built in cupboard and neutrally decorated. BEDROOM TWO 12' 2" x 11' 9" (3.7m x 3.58m) With window to the rear elevation, wall mounted radiator and carpeted. BATHROOM 5' 5" x 7' 4" (1.65m x 2.24m) With panelled bath with mixer tap, shower attachment over, low flush w.c, pedestal hand wash basin and tiled walls. FLAT TWO (Currently let) Accessed via a secure carpark to the rear, leads to timber door and staircase to the first floor. FIRST FLOOR LANDING With doors leading to lounge, two bedrooms, kitchen and bathroom. LOUNGE 12' 4" x 11' 8" (3.76m x 3.56m) With window to the front elevation, carpeted and tastefully decorated. KITCHEN 6' 4" x 12' 3" (1.93m x 3.73m) Boasting a range of matching wall and base units with complimentary roll over work surface, incorporates a stainless steel sink and drainer, space for cooker and fridge freezer, window to the rear elevation and store cupboard. BEDROOM ONE 11' 9" x 12' 6" (3.58m x 3.8m) With window to the front elevation, carpeted, wall mounted radiator and built in cupboard. BEDROOM TWO 9' 0" x 12' 2" (2.74m x 3.7m) With window to the rear elevation, carpeted and neutrally decorated. BATHROOM With panelled bath and mixer tap, low flush w.c, wall mounted basin, obscured window to the rear elevation and wall mounted radiator. SHOP 1 (Currently let) 23' 7" x 21' 5" (7.2m x 6.53m) Comprising of L-Shaped shop floor, rear office and W/C. Doors leading to office/kitchen. KITCHEN / OFFICE 6' 10" x 5' 9" (2.08m x 1.75m) W.C 7' 2" x 3' 9" (2.18m x 1.14m) With wall mounted basin. WORKSHOP 6' 11" x 11' 2" (2.1m x 3.4m) SHOP 2 (Currently let) Comprises of shop floor 4.060 x 3.508, workshop 4.446 x 3.533, store room / kitchen 3.388 x 4.290, W/C with wall mounted basin, 2.047m x0.97. SHOP 3 (Currently let) Comprises of shop floor with fitting room 7.357 x 3.256, store room 3.256 x 1.141 and W/C with wall mounted basin, 0.977m x 1.906m. SHOP 4 (Currently let) Comprises of shop floor 6.962m x 3.589m, store room and W/C with wall mounted basin, 1.900m x 1.090m. EXTERNALLY To the rear of the property having an enclosed and secure carpark with wrought iron gate giving access to parking for multiple vehicles and separate enclosed beer garden accessible from the public house.
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This property is sold subject to payment of a non-refundable reservation fee of 4.2% to a minimum of £6,000.00 including VAT.
Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding.
A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price.
This property is being sold under the Modern Method of Auction, which requires the completion of the purchase to be within 56 days, although all reasonable endeavours must be made to exchange contracts within 28 days following the Draft Contract being received by the Buyer's Solicitor.
A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement in the 28 day period following the auction or the date of acceptance of the offer.
If the Buyer Information Pack has been produced and provided by iamsold any successful purchaser will be required to pay £300.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
For further information or to speak to one of our team, please call 01724 781 351.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.