22 King Edward Street Kingston upon Hull East Riding of Yorkshire HU1 3SS

22 King Edward Street
Kingston upon Hull
East Riding of Yorkshire
HU1 3SS

Freehold Retail Investment

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Withdrawn Post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
Auction Venue
Live Streamed Auction

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Freehold Retail Investment

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Status Withdrawn Post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

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

VAT

VAT is applicable to this lot.

Completion Period

Six Week completion

EPC

Band D. See Legal Pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion/ (Reversion)
Ground First Second Basement	Retail Unused Unused Storage	99.96 sq m 95.78 sq m 23.32 sq m 108.14 sq m	(1,076 sq ft) (1,031 sq ft) (251 sq ft) (1,164 sq ft)	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 £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.