Let to Power Leisure Bookmakers Limited t/a Paddypower until 2032 (Subject to option)
Long term residential development potential on upper floors (Subject to consents)
No rent arrears
Prominent city centre location
Neighbouring occupiers include Tesco Express, EE, Barclays Bank, McDonald's, Caffe Nero, Natwest and Santander
Lot 23
Auction 9th July 2020
Rent £27,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
38 miles south-east of York
58 miles east of Leeds
Roads
A63, A165
Rail
Kingston-upon-Hull Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is prominently situated in the central shopping area in heart of Kingston-upon-Hull City, on the north side of the busy King Edward Street, approximately 200 metres from Princes Quay Shopping Centre and approximately 400 metres from St Stephens Square Centre. Neighbouring occupiers include Tesco Express, EE, Barclays Bank, McDonald's, Caffe Nero, Natwest and Santander.
Tenure
Freehold.
Location
Miles
38 miles south-east of York
58 miles east of Leeds
Roads
A63, A165
Rail
Kingston-upon-Hull Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property is prominently situated in the central shopping area in heart of Kingston-upon-Hull City, on the north side of the busy King Edward Street, approximately 200 metres from Princes Quay Shopping Centre and approximately 400 metres from St Stephens Square Centre. Neighbouring occupiers include Tesco Express, EE, Barclays Bank, McDonald's, Caffe Nero, Natwest and Santander.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation. The first and second floors are currently not used by the tenant and there is no internal access between the ground and first floor. The basement is accessed via a hatch. The property benefits from rear access via Savile Court.
VAT
VAT is applicable to this lot.
Completion Period
Six Week completion
EPC
Band D. See Legal Pack.
Description
The property comprises ground floor retail accommodation. The first and second floors are currently not used by the tenant and there is no internal access between the ground and first floor. The basement is accessed via a hatch. The property benefits from rear access via Savile Court.
POWER LEISURE BOOKMAKERS LIMITED (1) t/a Paddypower
15 years from 11/08/2017 on a full repairing and insuring lease (2)
£27,500 (3)
11/08/2022 and 11/08/2027 (10/08/2032)
Total
327.20 sq m
(3,522 sq ft)
£27,500 (3)
(1) For the year ending 31st December 2018, Power Leisure Bookmakers Limited reported a turnover of 850,321,000, pre-tax profit of 75,880,000 and shareholder funds of 127,289,000 (Source: SmartSearch 12/06/2020). (2) Te lease provides for a tenant option to determine on 11/08/2022 and 11/08/2027. (3) The seller has agreed for the tenant to pay the rent monthly from the June quarter date.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.