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Lot 12 Click here for addendum

Commercial Investment let to William Hill Organization Ltd – Gross Yield 14.2%
5 Week Completion

Situation

Located close to the junction with Cross Street in the heart of the town centre amongst nearby multiples such as Three, Boots, One Stop, Ramsdens and more.
The Seaside resort town of Bridlington is located approximately 24 miles north of Hull and 14 miles south of Scarborough.

Property

Forming part of a mid-terrace building comprising a Ground Floor Shop.

Accommodation¹

Ground Floor Shop
Area Approx. 1,182 sq ft
WC

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

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to William Hill Organization Limited (T/O for Y/E 27/12/2022 £510m, Pre-Tax Profit £5.1m and Shareholders' Funds £12.9m) for a term of 10 years from 4th June 2018 (no further breaks - see Note) at a current rent of £17,750 per annum exclusive.

Rent Review June 2023 (Outstanding).

Note 1: The Tenant did not operate their June 2023 Break Clause.

Note 2: We understand the tenant has been in occupation since at least 1990.

*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.

6 Cliff Street, Bridlington, East Riding of Yorkshire YO15 2NH