Let to New Look Retailers Limited and HMV Retail Limited
Approximately 35,236 sq ft
Prominent City Centre location
Located approximately 150 metres from Princes Quay Shopping Centre
Nearby occupiers include Marks & Spencer, Card Factory, Boots and Holland & Barrett
Lot 26
Auction 19th October 2017
Rent £400,525 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of a Major Fund Manager
Property Information
Location
Miles
38 miles south-east of York, 58 miles east of Leeds
Roads
A63, A1079
Rail
Hull Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is situated in a prominent position on the northern side of Whitefriargate, one of Hull's prime pedestrianised retail thoroughfares. The Princes Quay Shopping Centre is located some 150 metres from the property and is currently undergoing a £20m redevelopment scheme to deliver the UK's first full price/outlet hybrid scheme - for further information visit www.princesquay.com. Other nearby occupiers include Marks & Spencer, Card Factory, Boots and Holland & Barrett .
Tenure
Freehold.
Location
Miles
38 miles south-east of York, 58 miles east of Leeds
Roads
A63, A1079
Rail
Hull Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is situated in a prominent position on the northern side of Whitefriargate, one of Hull's prime pedestrianised retail thoroughfares. The Princes Quay Shopping Centre is located some 150 metres from the property and is currently undergoing a £20m redevelopment scheme to deliver the UK's first full price/outlet hybrid scheme - for further information visit www.princesquay.com. Other nearby occupiers include Marks & Spencer, Card Factory, Boots and Holland & Barrett .
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with first floor ancillary accommodation and benefits from loading to the rear via Alfred Gelder Street. There is also a substation located on site.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with first floor ancillary accommodation and benefits from loading to the rear via Alfred Gelder Street. There is also a substation located on site.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
51
Ground First
Retail Ancillary
1,376.31 sq m 1,251.64 sq m
(14,815 sq ft) (13,472 sq ft)
NEW LOOK RETAILERS LIMITED (1)
15 years from 06/02/2006
£280,000
05/02/2021
51a
Ground First
Retail Ancillary
530.4 sq m 115.2 sq m
(5,709 sq ft) (1,240 sq ft)
HMV RETAIL LIMITED (2)
20 years from 01/06/1998
£120,000
01/06/2018
Substation (51)
-
-
-
-
NORTHERN POWERGRID (YORKSHIRE) PLC
40 years from 01/04/1988
£525
31/03/2028
Total
3,273.55 sq m
(35,236 sq ft)
£400,525
(1) For the year ending 26th March 2016, New Look Retailers Limited reported a turnover of £1,398,502,000, pre-tax profits of £178,532,000 and a total net worth of £323,253,000 (Source: Experian Group 23/08/2017). New Look began in 1969 as a single fashion store in the UK. From there, they have grown to become a leading fast-fashion brand, with 593 stores in the UK and over 297 across Europe, China and Asia (Source: www.newlook.com/uk 23/08/2017). (2) HMV is a leading specialist retailer of music, film, games and technology products, with over 120 stores in the UK (Source:www.hmv.com 23/08/2017).