36 / 38 St. Augustine's Gate Hedon East Riding of Yorkshire HU12 8EX

36 / 38 St. Augustine's Gate
Hedon
East Riding of Yorkshire
HU12 8EX

Freehold Retail Investment

Let to Heron Foods Ltd on a new 17.5 year lease (10 year option to renew) from completion
Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 26 years
Guaranteed rental increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
Recently expanded and refurbished
Neighbouring occupiers include Boots the Chemist and The Post Office
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
34
Auction
26th March 2015
Rent
£45,000 per Annum Exclusive
Status
Sold
Price
£560,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Heron Foods

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Freehold Retail Investment

Let to Heron Foods Ltd on a new 17.5 year lease (10 year option to renew) from completion
Heron Foods Ltd was incorporated in 1978 and has reported profits for the last 26 years
Guaranteed rental increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
Recently expanded and refurbished
Neighbouring occupiers include Boots the Chemist and The Post Office
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 34
Auction 26th March 2015
Rent £45,000 per Annum Exclusive
Status Sold
Price £560,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Heron Foods

Property Information

Location

Miles: 13 miles south-east of Beverley, 9 miles east of Kingston-upon-Hull
Roads: A1033, A165, A63
Rail: Kingston-upon-Hull Railway Station
Air: Leeds Bradford International Airport

Situation

The property is situated on the east side of St. Augustine’s Gate close to Market Place in the centre of Hedon, a busy and attractive market town. Neighbouring occupiers include Lloyds TSB, Boots the Chemist and The Post Office as well as a range of local and regional representation.

Tenure

Freehold.

Location

Miles: 13 miles south-east of Beverley, 9 miles east of Kingston-upon-Hull
Roads: A1033, A165, A63
Rail: Kingston-upon-Hull Railway Station
Air: Leeds Bradford International Airport

Situation

Tenure

Freehold.

Description

The property comprises recently expanded and refurbished retail accommodation on the ground floor, with ancillary accommodation set on the first floor.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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 First	Retail Ancillary	285.87 sq m 93.88 sq m	(3,077 sq ft) (1,010 sq ft)	HERON FOODS LTD (1)	17.5 years from completion on a full repairing and insuring lease with a 10 year option to renew	£45,000	Rental increases linked to CPI (subject to minimum of 1% and a maximum of 3%) 5 yearly annually compounded
Totals		379.75 sq m	(4,087 sq ft)			£45,000

(1) Heron Foods Ltd was incorporated in 1978 and operates from some 235 outlets nationally. In some 45 years of trading, Heron Foods Ltd have always reported annual profits. For the year ending 28/12/2013, Heron Foods Ltd reported a turnover of £249,688,954, pre-tax profits of £2,301,042 and a net worth of £26,419,497. (Source: www.riskdisk.com 24/02/2015).