Driving Test Centre Reservoir Road Hull East Yorkshire HU6 7PY

Driving Test Centre
Reservoir Road
Hull
East Yorkshire
HU6 7PY

Freehold Driving Test Centre Investment

Entirely let to the Secretary of State for Communities and Local Government on a 40 year lease until 2047 (subject to option)
Five Yearly RPI Linked Reviews
Established retail warehouse/trade location
Approximate site area of 0.96 hectares (2.38 acres)
On-site car parking for approximately 32 cars

Lot
28
Auction
23rd October 2014
Status
Sold
Price
£910,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Driving Test Centre Investment

Entirely let to the Secretary of State for Communities and Local Government on a 40 year lease until 2047 (subject to option)
Five Yearly RPI Linked Reviews
Established retail warehouse/trade location
Approximate site area of 0.96 hectares (2.38 acres)
On-site car parking for approximately 32 cars

Lot 28
Auction 23rd October 2014
Status Sold
Price £910,000
Sector
Motor Trade, Petrol Station
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 39 miles south-east of York, 60 miles east of Leeds, 65 miles north-east of Sheffield
Roads: A1165, A63, A15, M180, M62
Rail: Kingston-Upon-Hull Railway Station, Cottingham Railway; Station
Air: Humberside (30 min) Leeds (1 hr 30 min)

Situation

The property is situated within an established retail warehouse/ trade and industrial area just off Clough Road, 2 miles north of Hull City Centre and easily accessible from the A1165. Nearby occupiers along Clough Road include Halfords, PC World and Currys.

Tenure

Freehold.

Location

Miles: 39 miles south-east of York, 60 miles east of Leeds, 65 miles north-east of Sheffield
Roads: A1165, A63, A15, M180, M62
Rail: Kingston-Upon-Hull Railway Station, Cottingham Railway; Station
Air: Humberside (30 min) Leeds (1 hr 30 min)

Situation

Tenure

Freehold.

Description

The property comprises a single-storey office unit and large hardstanding driving practice area used as a driving test centre for motorbike, taxi and car driving assessments. The property benefits from an approximate site area 0.96 hectares (2.38 acres) including parking for approximately 32 cars.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground	Driving Test Centre	149.85 sq m	(1,613 sq ft)	SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT	40 years from 05/07/2007 until 04/07/2047 on a full repairing and insuring lease (1) (2)	£111,977	05/07/2007 and 5 yearly
Totals		149.85 sq m	(1,613 sq ft)			£111,977

(1) The lease provides five yearly upward only rent reviews to the higher of uncapped annually compounded RPI or OMRV.
(2)The lease provides a tenant’s option to break on the fifteenth and twenty-fifth anniversary of the term. The tenant is not currently occupying the premises but intend to reoccupy. Please refer to the legal pack.