Retail Investment Opportunity
Retail Investment Opportunity
Cottingham is a predominately residential suburb 4 miles north of Kingston upon Hull. The property is located in Cottingham town centre on King Street, close to its junction with Hallgate, with Cottingham railway station 600 metres to the west. A public car park is opposite, together with a bus stop. Nearby occupiers include Boots (adjacent), Sainsbury’s, Heron Foods and Barclays.
Leasehold. Held for a term of 125 years from 11th March 1966 (approximately 73 years unexpired) at a rent of £3,240 per annum subject to reviews every 25 years.
Cottingham is a predominately residential suburb 4 miles north of Kingston upon Hull. The property is located in Cottingham town centre on King Street, close to its junction with Hallgate, with Cottingham railway station 600 metres to the west. A public car park is opposite, together with a bus stop. Nearby occupiers include Boots (adjacent), Sainsbury’s, Heron Foods and Barclays.
Leasehold. Held for a term of 125 years from 11th March 1966 (approximately 73 years unexpired) at a rent of £3,240 per annum subject to reviews every 25 years.
The property comprises a ground floor shop.
VAT is not applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a ground floor shop.
VAT is not applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 73.8 sq m |
(795 sq ft) |
SENSE, THE NATIONAL DEAF, BLIND & RUBELLA ASSOCIATION (1) |
10 years from 21/01/2017 (2) on a full repairing & insuring lease |
£12,500 | 2022 (2) |
| Total |
73.8 sq m |
(795 sq ft) |
£12,500 | ||||
(1) For the year ending 31st March 2017, Sense, The National Deaf, Blind & Rubella Association reported no turnover, pre-tax profits of £741,801 and a total net worth of £35,031,237 (Source: Experian 20.02.2016). Sense has gone from an organisation with assets of two pounds and five shillings in 1955 (£48 today) to one that has an annual turnover of more than £60 million (Source: www.sense.org.uk).
(2) Tenant’s option to break in 2022 upon 6 months’ prior notice.
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