Shop let to William Hill with 3 separately-accessed flats above all let on AST's
Shop lease expires September 2027 (No breaks)
Shop refurbished in 2022
Two x 2-bed flats and one 1 x bed flat above each with separate gas, electricity and water supplies
VAT-free investment
Established local retail parade in vibrant shopping area
Nearby occupiers include Asda Superstore, Iceland Supermarket, B&M, McDonald's, Home Bargains and Cooplands
Lot 39
Auction 9th May 2024
Rent £27,400 per Annum Exclusive
Status Available
Guide* £275,000
Sector High Street Retail/Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles east of Hull City Centre, 37 miles south-east of York, 56 miles east of Leeds
Roads
A63, A165, A1033
Rail
Hull Railway Station
Air
Leeds/Bradford Airport
Situation
The property is prominently located on the south side of Holderness Road (A165), in an established retail parade, 2 miles east of Hull City Centre in a vibrant shopping area with a mix of national and independent retailers. Nearby occupiers include Asda Superstore, Iceland Supermarket, B&M, McDonald's, Home Bargains and Cooplands.
Tenure
Freehold.
Location
Miles
2 miles east of Hull City Centre, 37 miles south-east of York, 56 miles east of Leeds
Roads
A63, A165, A1033
Rail
Hull Railway Station
Air
Leeds/Bradford Airport
Situation
The property is prominently located on the south side of Holderness Road (A165), in an established retail parade, 2 miles east of Hull City Centre in a vibrant shopping area with a mix of national and independent retailers. Nearby occupiers include Asda Superstore, Iceland Supermarket, B&M, McDonald's, Home Bargains and Cooplands.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground floor, with three separately-accessed flats (2x2 bed and 1x1 bed) let on AST's, arranged on the first floor. Each flat have the benefit of their own gas, electricity and water supplies.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Description
The property comprises a shop arranged on the ground floor, with three separately-accessed flats (2x2 bed and 1x1 bed) let on AST's, arranged on the first floor. Each flat have the benefit of their own gas, electricity and water supplies.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Ground
Betting Office
72.83
(784)
WILLIAM HILL ORGANIZATION LIMITED (1)
20 years from 28/09/2007
£14,500
First (Flat 1)
Residential - 2 bed flat
46.82
(504)
AN INDIVIDUAL
AST 6 months from 01/02/2024 at £375 pcm
£4,500
First (Flat 2)
Residential - 2 bed flat
44.68
(481)
AN INDIVIDUAL
AST 6 months from 30/10/2018 (Holding over) at £375 pcm
£4,500
First (Flat 3)
Residential - 1 bed flat
40.13
(432)
AN INDIVIDUAL
AST 6 months from 12/05/2022 (Holding over) at £325 pcm
£3,900
Total
204.46
(2,201)
£27,400
(1) For the year ending 27/12/2022, William Hill Organization Limited reported a turnover of £510,000,000, a pre-tax profit of £5,100,000 and a net worth of minus £5,500,000 (www.northrow.com)
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.
