Let to The Secretary of State for Communities and Local Government
New 10 year lease from April 2018 (subject to option)
CPI linked Rent Review in April 2023 (compounded annually)
Includes car parking for 11 cars
Future redevelopment and Change of Use potential (subject to lease and consents)
Predominantly residential location
Lot 27
Auction 24th May 2018
Rent £10,300 per Annum Exclusive
Status Sold
Price £195,000
Sector Medical Centre/Doctors, Healthcare
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
1/2 mile north-east of Hull City Centre, 35 miles south-east of York, 50 miles east of Leeds
Roads
A63, A165, A1079
Rail
Hull Paragon Interchange Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is located on the western side of Stanley Street, at its junction with Morton Street and south of its junction with Spring Bank, which provides access to Hull City Centre. The property is located in a mixed residential and commercial area with nearby occupiers including the adjacent Tesco Express, Iceland, William Hill and a number of independent retailers.
Tenure
Freehold.
Location
Miles
1/2 mile north-east of Hull City Centre, 35 miles south-east of York, 50 miles east of Leeds
Roads
A63, A165, A1079
Rail
Hull Paragon Interchange Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is located on the western side of Stanley Street, at its junction with Morton Street and south of its junction with Spring Bank, which provides access to Hull City Centre. The property is located in a mixed residential and commercial area with nearby occupiers including the adjacent Tesco Express, Iceland, William Hill and a number of independent retailers.
Tenure
Freehold.
Description
The property comprises a ground floor medical centre which benefits from car parking for approximately 11 cars. The property benefits from permitted use as offices, a job centre or a medical assessment centre.
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 medical centre which benefits from car parking for approximately 11 cars. The property benefits from permitted use as offices, a job centre or a medical assessment centre.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Medical Centre
167.04 sq m
(1,798 sq ft)
THE SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT (1)
10 years from 01/04/2018 until 31/03/2028 (2) on a full repairing and insuring lease
£10,300
01/04/2023 (3)
Total
167.04 sq m
(1,798 sq ft)
£10,300
(1) Centre for Health and Disability Assessments provides a service assessing the eligibility for benefits of people who are out of work due to long-term illness, or as a result of a disability or health condition, on behalf of the Department for Work and Pensions (DWP) (Source: www.chdauk.co.uk 17/04/2018). (2) The lease is subject to a tenant option to determine on 31st March 2023. (3) The rent is reviewed every 5 years to CPI and is compounded annually.
