51 / 51a Whitefriargate Kingston-upon-Hull East Yorkshire HU1 2HP

51 / 51a Whitefriargate
Kingston-upon-Hull
East Yorkshire
HU1 2HP

Freehold Retail Investment

  • Let to New Look Retailers Limited and HMV Retail Limited
  • HMV have proposed new 5 year lease – see note (3)
  • Approximately 35,236 sq ft in 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
    41
  • Auction
    14th February 2018
  • Rent
    £400,200 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    Withdrawn Post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
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Let to New Look Retailers Limited and HMV Retail Limited
  • HMV have proposed new 5 year lease – see note (3)
  • Approximately 35,236 sq ft in 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 41
  • Auction 14th February 2018
  • Rent
  • Status Withdrawn Post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) (3)
20 years
from
01/06/1998
£120,000 31/05/2018
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 2017, New Look Retailers Limited reported a turnover of £1,398,502,000, pre-tax profits of £84,987,000 and a total net worth of £361,242,000 (Source: Experian Group 22/01/2018). 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 22/01/2018).
(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 22/01/2018).
(3) HMV have served a s.26 notice proposing terms for a new 5 year lease from 1st June 2018 with a tenant’s break on 31st January 2021. See legal pack for full information.

Property Documents

  • Catalogue Page
    Updated Date
    08.11.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    08.11.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 South Quay, Victoria Quays
Sheffield
S2 5SY
Siobhan Fay +44 114 279 4052siobhan.fay@cms-cmno.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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