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 23rd September 2020
Rent £62,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
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.
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.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.