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Lot 11 Click here for addendum

Freehold Commercial Investment – Gross Yield 13%
6 Week Completion

Situation

Located in a prominent trading position, close to the junction with Barnsley Street, adjacent to Ladbrokes, opposite One Stop, and nearby multiples such as Peacocks, Card Factory, Cooplands and a host of independent traders, as well as being just yards from the Kingston Shopping Centre.
Hull lies approximately 50 miles east of Leeds and 33 miles south-east of York. The Humberside city benefits from good road links via the A63 which connects to the M62 Trans-Pennine motorway.

Property

A mid-terrace building comprising a Ground Floor Double Shop. The property also includes a First Floor which currently has no access.

Accommodation¹

Ground Floor Double Shop
Gross Frontage 35'5"
Built Depth 71'0"
Area Approx. 2,002 sq ft
First Floor
Not inspected

¹Not inspected by Barnett Ross. Area taken from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to International Food Store (Yorkshire) Limited (with personal guarantor) for a term of 10 years from 4th September 2018 at a current rent of £17,000 per annum exclusive.

Rent Review 2023

Note: There is a £7,500 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

253–255 Holderness Road, Hull, East Riding of Yorkshire HU8 8TD