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
    09/Jul/2020
  • Rent
    £27,500 per Annum Exclusive
  • Status
    Contact Us
  • Price*
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 22 King Edward Street<br>Kingston upon Hull<br>East Riding of Yorkshire<br>HU1 3SS
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* More information on the term "price" can be found here

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.

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.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReversion/
(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 £1,000 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

  • Solicitors Legal Pack
    Updated Date
    02.07.20
    File Size
    108 MB
    Login to View
  • Catalogue Page
    Updated Date
    22.06.20
    File Size
    743 KB
    View PDF
  • Site Plan
    Updated Date
    22.06.20
    File Size
    790 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
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
ABH Solicitors A1 Sovereign Business Park, Kings Croft Court
Wigan
WN1 3AP
Gary Shepherd 01942 246241gshepherd@abhlaw.co.uk

Useful Links

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