47 Saturday Market
Beverley
East Riding of Yorkshire
HU17 8AA

Freehold Retail Investment

  • Entirely let to Space NK Limited
  • 10 year lease from April 2019 (no breaks)
  • Highly affluent, attractive and historic market town
  • Nearby retailers include, Jack Wills, Jo Malone, White Stuff, Caffe Nero, Seasalt Cornwall, Browns and Barbour
  • Lot
    8
  • Auction
    23/Sep/2020
  • Rent
    £62,500 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 47 Saturday Market<br>Beverley<br>East Riding of Yorkshire<br>HU17 8AA
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* More information on the term "price" can be found here

Property Information

Location
Miles
35 miles east of York
Roads
A164, A1035, M62
Rail
Beverley
Air
Humberside Airport
Situation

Beverley is an attractive and historic market town in the East Riding of Yorkshire, approximately 35 miles east of York. The property is situated in a prominent location on the west side of Saturday Market, close to Toll Gavel, Beverley's primary retailing thoroughfares. Other retailers nearby include Mint Velvet, Jack Wills, Jo Malone, White Stuff, Caffe Nero, Seasalt Cornwall, Browns and Barbour.

Tenure

Freehold.

Description

The property comprises a three storey building arranged as a ground floor shop with two flats above (part sublet), on the first and second floors, accessed separately from Saturday Market.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
Ground
First
Second
Retail/Ancillary
Residential
Residential
110.81 sq m
-
-
(1,193 sq ft)
(-)
(-)
SPACE NK
LIMITED (1)
10 years from
22/04/2019 until
21/04/2029 on a full
repairing and insuring
leasee
£62,500 (2)22/04/2024
Total Commercial Area
110.81 sq m
(1,193 sq ft)
  £62,500 

(1) For the year ending 30th March 2019, Space NK Limited reported a total turnover of £108,938,970, pre-tax profits of £3,027,523 and shareholders funds of £32,481,557 (source: SmartSearch 20/08/2020). Founded in 1991, Space NK first opened its doors in Covent Garden in 1993. Today there are 72 stores and a further 29 in the US (source: spacenk.com 20/08/2020). The flat on the first floor is sublet on a regulated tenancy at a rent of £3,384 pa (£282 pcm).
(2) Under the terms of the lease, the current rent is £60,000 pa, rising to £62,500 pa on 22/04/2021. The Vendor has agreed to adjust the completion monies so that the property effectively produces £62,500 pa from completion of the sale until the fixed rental increase on 22/04/2021.

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
    10.09.20
    File Size
    6 MB
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  • Site Plan
    Updated Date
    02.09.20
    File Size
    902 KB
    View PDF
  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    856 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
    15.09.20
    File Size
    57 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
Debenhams Ottaway LLP 48 Watling Street
Radlett
WD7 7NN
Ruth Boulton 01923 857 171rlb@debenhamsottaway.co.uk

Useful Links

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