Let to PPG Architectural Coatings UK Limited t/a Johnstone’s Decorating Centre
New 10 year lease (renewal) from December 2017 (subject to option)
Approximately 6,931 sq ft
Nearby occupiers include Lidl, Howden’s Joinery and Element Materials Technology
Prominent location fronting A63 Ring Road
Lot 75
Auction 11th July 2018
Rent £40,000 per Annum Exclusive
Status Sold
Price £240,000
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
1 mile east of Hull city centre, 35 miles south-east of York, 50 miles east of Leeds
Roads
A63, A165, M62
Rail
Hull Paragon Interchange Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is situated on the strategically located South Orbital Trading Park, approximately one mile east of Hull city centre. The property benefits from excellent roadcommunications, fronting A63 Ring Road. Nearby occupiers include Lidl, Howden’s Joinery and Element Materials Technology. The £160 million Siemens Wind Frame Complex is located at the nearby Alexandra Dock.
Tenure
Long Leasehold. The property is held for a term of 125 years less one day from 01/09/1982 until 30/08/2107 at a current ground rent of £12,765 per annum, reviewed every 5 years to the value of the land only, not reflecting the value of the buildings on the land. The next rent review is on
01/09/2022.
Location
Miles
1 mile east of Hull city centre, 35 miles south-east of York, 50 miles east of Leeds
Roads
A63, A165, M62
Rail
Hull Paragon Interchange Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is situated on the strategically located South Orbital Trading Park, approximately one mile east of Hull city centre. The property benefits from excellent roadcommunications, fronting A63 Ring Road. Nearby occupiers include Lidl, Howden’s Joinery and Element Materials Technology. The £160 million Siemens Wind Frame Complex is located at the nearby Alexandra Dock.
Tenure
Long Leasehold. The property is held for a term of 125 years less one day from 01/09/1982 until 30/08/2107 at a current ground rent of £12,765 per annum, reviewed every 5 years to the value of the land only, not reflecting the value of the buildings on the land. The next rent review is on
01/09/2022.
Description
The property comprises a detached industrial/trade counter unit with ancillary accommodation on the first floor, on a site area of 0.2 hectares (0.5 acres).
VAT
VAT is not 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 detached industrial/trade counter unit with ancillary accommodation on the first floor, on a site area of 0.2 hectares (0.5 acres).
VAT
VAT is not 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/ (Reversion)
Ground
First
Trade Counter/Industrial
Ancillary
557.80 sq m
86.10 sq m
(6,004 sq ft)
(927 sq ft)
PPG ARCHITECTURAL COATINGS UK LIMITED (1) t/a Johnstone’s Decorating Centre
10 years from 21/12/2017 (2) on a full repairing and insuring lease
£40,000
21/12/2022 (20/12/2027)
Total
643.90 sq m
(6,931 sq ft)
£40,000
(1) For the year ending 31st December 2016, PPG Architectural Coatings UK Limited reported a turnover of £228,839,000, pre-tax profits of £42,714,000 and a total net worth of £199,682,000 (Source: Experian Group 12/06/2018). (2) The lease is subject to a tenant option to determine on 21st December 2022.
