Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
Ground
Ground
Ground & First |
Workshop & Storage
Open Fronted Garage
Office & Ancillary |
202.60 sq m
515.80 sq m
380.50 sq m |
(21,800 sq ft)
(5,550 sq ft)
(4,095 sq ft) |
EYMS GROUP LIMITED (GUARANTEED BY EAST YORKSHIRE MOTOR SERVICES
LIMITED) (1) |
15 year lease until 03/04/2021 and a reversionary lease for a term of 10 years from 04/04/2021 until 03/04/2031 on a full repairing and insuring basis (2) |
£ 153,610 (2) |
04/04/2021
04/04/2026 |
| TOTALS |
|
2,922.30 sq m |
(31,445 s q ft) |
|
|
£153,610 (2) |
|
1) For the year ending 31st December 2014, EYMS Group Limited reported a turnover of £34,991,427, pre-tax profits of £766,141 and a net worth of £3,643,018. For the year ending 31st December 2014, East Yorkshire Motor Services Limited reported a turnover of £30,843,689, pre-tax profits of £647,284 and a net worth of £12,872,381. (Source: Experian Group 13/09/2016). EYMS is an award winning bus company, formed in 1926, that currently runs over 300 buses and coaches throughout Hull, East Yorkshire and the North Yorkshire coast. EYMS was privatised in February 1987, becoming a subsidiary of EYMS Group Ltd. Since this time it has gone from strength to strength, acquiring many small bus businesses in and around Hull. (Source: www.eyms.co.uk/about-eyms/history).
(2) A reversionary lease was granted on 03/08/2016 to the tenant extending their original lease (15 years from 4th April 2006 until 2021) by a further 10 years. The tenant will pay half rent until 2nd February 2019 at which point the rent will revert to £153,610 p.a.x. The seller has agreed to adjust the completion monies so that the property will effectively produce £153,610 p.a.x from completion of the sale.
