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Lot 20 Sold Prior

354–360 (even) Hessle Road, Hull, East Riding of Yorkshire HU3 3SD

  • Photo1
  • Photo2

Lot 20

Freehold Commercial Investment – Gross Yield 13.25%
6 week completion

SITUATION

Located close to the junction with Dee Street and St Andrews Retail Park on this main road retail thoroughfare being amongst such other multiple retailers as Lloyds Bank, Greggs, B&M, Iceland, Card Factory, Wilko and a variety of independent traders.
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 substantial mid terrace building comprising:
• Nos. 354-358 (even): Ground Floor Triple Shop with internal access to Ancillary/Store on the first and second floors.
• No. 360: Ground Floor Shop with internal access to Ancillary/Store on the first and second floors.

ACCOMMODATION

Nos. 354-358 (even):
Ground Floor Triple Shop
Gross Frontage          42'3"
Internal Width             40'0"
Shop & Built Depth    72'3"
Sales Area                 Approx. 1,825 sq ft
Ancillary Area            Approx.    197 sq ft
2 WCs
First Floor - used for air-conditioning ducting
Area                          Approx. 2,097 sq ft¹
Second Floor - no access

No. 360:
Ground Floor Shop
Gross Frontage        12'9"
Internal Width          12'6"
Shop Depth             65'3"
First Floor & Second Floors
Not inspected

¹Area 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 RAL Limited t/a Admiral Casino (having over 230 branches) (Parent Company - Novomatic UK Limited - visit: novomaticuk.com) (T/O for Y/E 31/12/2021 £64.4m, Pre-Tax Profit £53.6m and Shareholders' Funds £55.7m) for a term of 10 years from 15th October 2017 (renewal of a previous lease) at a current rent of £26,500 per annum exclusive.

Rent Review October 2022 (Outstanding)

Note: The Tenant did not operate their October 2022 Break Clause.

Enquire about this lot:

Photo of John Barnett

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

Photo of Elliott Greene

Elliott Greene
020 8492 9449
egreene@barnettross.co.uk

*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.