Let to two tenants trading as Cottingham Post Office and UK Event Medical Services Limited (t/a UKEMS)
Renewed 10 year Post Office lease from March 2022 (subject to option)
New 6 year lease to UKEMS from December 2021 (subject to option)
Includes parking for about 14 cars
Change of Use Potential to Residential (subject to leases & consents)
Town Centre location with nearby retailers including Boots the Chemist, Costa and Holland & Barrett
Lot 30
Auction 12th July 2022
Rent £40,500 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On the Instructions of Telereal Trillium
Property Information
Location
Miles
4 miles north of Kingston upon Hull, 5 miles south of Beverley, 33 miles east of York
Roads
A164, A1079, A63
Rail
Cottingham Railway Station
Air
Leeds/Bradford Airport
Situation
Cottingham is reputedly England's largest village approximately 4 miles north-west of Kingston upon Hull.
The property is situated on Finkle Street, a prominent position in the town centre directly opposite the village green which provides convenient car parking. The surrounding area is primarily residential with other nearby retailers including Boots the Chemist, Costa and Holland & Barrett.
Tenure
Freehold.
Location
Miles
4 miles north of Kingston upon Hull, 5 miles south of Beverley, 33 miles east of York
Roads
A164, A1079, A63
Rail
Cottingham Railway Station
Air
Leeds/Bradford Airport
Situation
Cottingham is reputedly England's largest village approximately 4 miles north-west of Kingston upon Hull.
The property is situated on Finkle Street, a prominent position in the town centre directly opposite the village green which provides convenient car parking. The surrounding area is primarily residential with other nearby retailers including Boots the Chemist, Costa and Holland & Barrett.
Tenure
Freehold.
Description
The property comprises a Post Office arranged on the ground floor only and a former Royal Mail Sorting Office arranged on the ground floor. Pedestrian access is available from Finkle Street together with rear access and car parking for about 14 cars.
VAT
VAT is not applicable to this lot.
Completion Period
6 week completion - please see Special Conditions of Sale
EPC
See legal pack.
Description
The property comprises a Post Office arranged on the ground floor only and a former Royal Mail Sorting Office arranged on the ground floor. Pedestrian access is available from Finkle Street together with rear access and car parking for about 14 cars.
VAT
VAT is not applicable to this lot.
Completion Period
6 week completion - please see Special Conditions of Sale
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (GIA) Approx sq m
Floor Areas (GIA) Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Post Office
102.57
(1,104)
G.MITCHELL (t/a Cottingham Post Office)
Approx. 10 years from 21/03/2022 expiring on 31/03/2032 (1)
£16,500
01/04/2027 to RPI
Ground
Former Sorting Office
207.92
(2,238)
UK EVENT MEDICAL SERVICES LIMITED (2) (t/a UKEMS)
6 years from 23/12/2021 (3)
£24,000
23/12/2024
Total
310.49
(3,342)
£40,500
(1) The lease is subject to a mutual option to determine on 21/03/2027. Please note this lease renewal is agreed but not yet completed. (2) UK Event Medical Services is recognised as one of the UK’s leading provider of private ambulance services and healthcare logistics. The seller holds a rent deposit of £6,125. (www.ukeventmedical.uk) (3) The lease is subject to a tenant option to determine on 22/12/2024 and is contracted outside the provisions of the Landlord & Tenant Act 1954. The tenant benefits from paying half rent for the first 12 months. The Seller will make an allowance from completion of the sale until the expiry of the concessionary rental period - please see Special Conditions of sale.
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.
