Freehold City Centre Retail Investment with Development Potential
Includes 2 Retail Units with Vacant Upper Parts
Let to Cash Converters Yorkshire Limited with Guarantee and Home for Tea Limited
Potential for Residential Development of Vacant Uppers (subject to consents)
Opposite the Prospect Shopping Centre and close to the Albion Square Redevelopment
Nearby Occupiers include Home Bargains, Savers, McDonald's, KFC, Tesco, Iceland, B&M and Costa Coffee
VAT-Free Investment
Lot 28
Auction 27th March 2024
Rent £35,200 per Annum Exclusive
Status Sold
Price £350,000
Sector High Street Retail
Auction Venue Live Streamed Auction
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 situated in the City Centre occupying a prominent position on the east side of King Edward Street, with Kingston-upon-Hull Railway Station 300m away.
Prospect Shopping Centre is opposite the property with occupiers including Savers, B&M, H. Samuel, Iceland and WH Smith. Other nearby occupiers include Home Bargains, Lush, McDonald's, KFC, Tesco and Costa Coffee. Albion Square's £96m development project is also very close to the property paving the way for 226 new homes, office and retail space, an urban park and a multi-storey car park.
Tenure
Freehold.
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 situated in the City Centre occupying a prominent position on the east side of King Edward Street, with Kingston-upon-Hull Railway Station 300m away.
Prospect Shopping Centre is opposite the property with occupiers including Savers, B&M, H. Samuel, Iceland and WH Smith. Other nearby occupiers include Home Bargains, Lush, McDonald's, KFC, Tesco and Costa Coffee. Albion Square's £96m development project is also very close to the property paving the way for 226 new homes, office and retail space, an urban park and a multi-storey car park.
Tenure
Freehold.
Description
The self contained upper parts may be suitable for residential conversion subject to consents. The property comprises a self-contained retail unit fronting King Edward Street with accommodation on the ground, basement and part-first floors and self-contained upper parts with vacant possession. The property also benefits from a second ground floor shop unit fronting Waltham Street.
VAT
VAT is not applicable to this lot.
Planning
Planning permission has been granted on 18th November 2016 (now lapsed) for a change of use of the vacant upper floors to 6 self-contained flats, installation of new windows and new entrance door on the ground floor. For more information see ref: 16/01387/COU at www.hull.gov.uk
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The self contained upper parts may be suitable for residential conversion subject to consents. The property comprises a self-contained retail unit fronting King Edward Street with accommodation on the ground, basement and part-first floors and self-contained upper parts with vacant possession. The property also benefits from a second ground floor shop unit fronting Waltham Street.
VAT
VAT is not applicable to this lot.
Planning
Planning permission has been granted on 18th November 2016 (now lapsed) for a change of use of the vacant upper floors to 6 self-contained flats, installation of new windows and new entrance door on the ground floor. For more information see ref: 16/01387/COU at www.hull.gov.uk
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
(1) As to the vacant upper parts of 54-56 King Edward Street, the floor areas stated above are the areas stated in the planning application number: 16/01387/COU (www.hull.gov.uk). (2) As to 31-33 Waltham Street, the lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954.
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.
