A freehold mixed-use portfolio of 12 properties arranged as 6 shops, 4 offices and 2 flats in Driffield, positioned within an established secondary trading street close to the Town centre. The accommodation is configured with retail at the ground floor and residential flats or office space above, forming a traditional parade that serves local day-to-day demand.

With the exception of two office units, the portfolio is fully occupied and generates a gross income of £44,610 per annum. The vacant offices offer a near-term opportunity to increase the total to around £51,610 per annum, based on existing rental evidence. Rents sit at levels that have proven affordable for independent businesses, supporting consistent take-up and providing investors with confidence in the sustainability of the income.

Constructed in the early to mid-twentieth century, the building presents as solid, stock with EPC ratings of  E or above, fire and electrical regulations are addressed, and there are no known requirements for major structural expenditure. Brook Street Chambers office suites share common corridors and facilities, with tenants responsible for internal repairs while the landlord maintains the exterior, which is an arrangement that is well understood in assets of this type.

The properties have been under continuous professional management, including the last three years by the current agents letting department, giving comfort around rent collection, record keeping and compliance.

For purchasers seeking an accessible multi-let investment, the portfolio offers immediate income, proven occupational demand and an identifiable scope to capture future rental growth through active management and the letting of the remaining vacant space.

Location

Driffield is a well-established market town serving a wide rural catchment within the East Riding. The centre provides a mix of local retailers, services, cafes and professional occupiers which support regular footfall throughout the week, reinforced by traditional market activity and a strong sense of local identity.

77 Middle Street South sits on the main shopping street, with B&M, Boyes and a Morrisons Local store close by.  The Brook Street units are in secondary trading locations that are still close to the main commercial core. These positions continue to function because they offer affordable occupational costs and convenient access to the town’s amenities. Shoppers and businesses benefit from short walking distances to car parking, convenience stores and public transport.

Road links connect the town to surrounding villages and to the larger centres of Bridlington, Beverley and Hull, while the railway station provides direct services along the Yorkshire coast and inland. This accessibility helps sustain demand from small businesses seeking premises that are easy for customers and staff to reach.

For investors, the appeal of the location rests in consistent local usage, limited competing supply at similar price points, and a long history of independent traders operating successfully from character buildings in and around the centre.

VAT

The sale is expected to be treated as a Transfer of a Going Concern. Subject to the purchaser meeting HMRC requirements, VAT will not be payable on the purchase price. Interested parties should make their own enquiries with their professional advisors in this regard.  Tenants of the commercial properties pay VAT on top of the rents quoted in the rent schedule.

Services

Mains water, drainage, and electricity are connected to all properties; however, none of the services have been tested, and some may require upgrading during development.  Purchasers should make their own enquiries in this regard.

Tenure
The properties are held under freehold title and are sold subject to the tenancies detailed above and in the legal pack.

Viewing
Strictly by appointment with the sole agents.  Viewing of some of the units might not be possible due to tenant availability.

Council Tax and Business Rates

All flats are listed as being in council tax band A.  Business rates are payable by the tenants.  Full details of the current business rates are available on the government website :.tax.service.gov.uk/business-rates-find/search

EPC

All of the EPC certificates will be included in the legal pack.

Floor Area Disclaimer

Any floor areas quoted are for guidance purposes only.  They have been taken from the Business Rates website or the EPC.