52/53 Whitefriargate
Hull
East Riding of Yorkshire
HU1 2HP

High Yielding Freehold City Centre Retail Investment

  • Two shops, let to Cooplands Bakery and a local Florist
  • Florist let on a new lease from August 2020
  • Approximately 506.70 sq m (5,454 sq ft)
  • Prominent corner position
  • Nearby retailers including Holland & Barrett,
  • The Works, Superdrug and Pandora
  • Lot
    18
  • Auction
    10/Dec/2020
  • Rent
    £32,500 per Annum Exclusive
  • Status
    Available
  • Price*
    £220,000 - £240,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 52/53 Whitefriargate<br>Hull<br>East Riding of Yorkshire<br>HU1 2HP
  • Expand
  • Photos
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* More information on the term "price" can be found here

Property Information

Location
Miles
37 miles south-east of York
55 miles east of Leeds
Roads
A15, A63, M62, M180
Rail
Hull Paragon Interchange
Air
Humberside
Situation

Kingston-upon-Hull is a thriving east coast port, approximately 37 miles south-east of York. The property is situated in a prominent corner position on the north side of Whitefriargate, at its junction with Parliament Street. The property is approximately 250 metres from Princes Quay Shopping Centre, with nearby retailers including Holland & Barrett, The Works, Superdrug and Pandora.

Tenure

Freehold.

Description

The property, which is Grade II listed, currently comprises two shops. 52 Whitefriargate comprises a ground floor shop with ancillary accommodation on the first floor. 53 Whitefriargate comprises a ground floor shop benefiting from a corner frontage with ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1.5% VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion.

EPC

See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

 FloorUseFloor Areas
(Approx)
TenantTermRent p.a.x
52Ground
First
Retail
Ancillary
122.20 sq m
55.90 sq m
(1,315 sq ft)
(602 sq ft)
COOPLAND & SON
(SCARBOROUGH)
LIMITED (1)
Approximately 5
years and 4 months
from 15/08/2017 until
24/12/2022
£18,500
53Ground
First
Second
Retail
Ancillary
Ancillary
138.80 sq m
124.90 sq m
64.90 sq m
(1,494 sq ft)
(1,344 sq ft)
(699 sq ft)
L W GROUP LIMITED
(t/a LW Plants & Design)
3 years from
28/08/2020 until
27/08/2023
£14,000 (3)

(1) For the year ending 31/03/2019, Coopland & Son (Scarborough) Limited reported a turnover of £50,172,831, pre-tax profits of £917,298 and total assets of £17,963,707 (NorthRow 17/11/2020). Coopland & Son operate from 166 locations across the UK (www.cooplands-bakery.co.uk).
(2) www.lwplants.com
(3) Under the terms of the lease, the tenant pays a peppercorn rent until 27/08/2021, rising to £7,000 pa on 28/08/2021 and £14,000 pa on 28/08/2022. The Vendor has agreed to adjust the completion monies, so that the property effectively produces £14,000 pa from completion of the sale until the fixed rental increase in 28/08/2022. A rent deposit of £3,500 + VAT is held by the Seller.

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
    30.11.20
    File Size
    27 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.20
    File Size
    674 KB
    View PDF
  • Site Plan
    Updated Date
    20.11.20
    File Size
    841 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
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
Hamlins LLP Roxburghe House273-287 Regent Street
London
W1B 2AD
Angelique Umugwaneza 020 7355 6079 angelique.umugwaneza@hamlins.com  Mark Hurst +44 (0)20 7355 6024mark.hurst@hamlins.com

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