133-135 Queen Street
Withernsea
East Riding of Yorkshire
HU19 2DJ

Freehold Convenience Store Investment

  • Convenience store let to Martin McColl Limited
  • Lease expires November 2028 (no breaks)
  • 3% per annum compounded rental increases
  • Large and prominent convenience store - approximately 845.60 sq m (9,102 sq ft)
  • Nearby occupiers include Boots the Chemist, Poundstretcher, Aldi and various local retailers
  • 10% Gross Yield on Guide Price
  • Lot
    22
  • Auction
    26/Mar/2020
  • Rent
    £44,295 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On Behalf of Trustees
Important Auction & Property Update
  • 133-135 Queen Street<br>Withernsea<br>East Riding of Yorkshire<br>HU19 2DJ
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
16 miles east of Hull
52 miles south-east of York
Roads
A1033, A165
Rail
Air
Humberside Airport
Situation

Withernsea is a seaside resort town in the East Riding of Yorkshire. The property is located in a prominent position on the east side of Queen Street, at its junction with Hull Road in the heart of the town centre. Nearby occupiers include Boots the Chemist, Poundstretcher, Aldi and various local retailers.

Tenure

Freehold.

Description

The property comprises a large ground floor convenience store, with ancillary accommodation on part first floor. Part of the ground floor and the rest of the first floor is residential, let on a long lease.

VAT

VAT is applicable to this lot.

EPC

Band D. See legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x.Reviews
Ground
Part First
Retail/Ancillary
Ancillary
541.90 sq m
303.70 sq m
(5,833 sq ft)
(3,269 sq ft)
MARTIN McCOLL
LIMITED (1)
20 years from
27/11/2008
until
26/11/2028
on a full
repairing and
insuring lease
£44,295.483% per annum
compounded rental
increases, with an
open market rent
review in November
2023 reviewed to the
higher of the passing
rent or open market
rental value
Part Ground/
Part First
Residential
-
(-)
INDIVIDUAL999 years
from
27/11/2008
Peppercorn-
Total Commercial Area
845.60 sq m
(9,102 sq ft)
  44,295.48 

(1) For the year ending 25th November 2018, Martin McColl Limited reported a turnover of £835,333,000, pre-tax profits of £34,718,000 and a total net worth of £71,797,000 (source: Experian Group 28/02/2020).

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    633 KB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    634 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
BBS Law First Floor, The Edge, Clowes Street
Manchester
Manchester
M3 5NA
Matthew Owen 01618 322 500matthew@bbslaw.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now