Let to Ladbrokes Betting and Gaming Limited until 2022
Located 500 metres south of Hull University
Nearby occupiers include Sainsbury's, Lloyds Bank and Subway
3 yearly rent reviews
Rent ?18,500 per annum exclusive with outstanding rent review to be settled. Notice served at ?22,275 per annum exclusive?
Lot 47
Auction 27th May 2010
Rent £18,500 per Annum
Status Sold
Price £286,000
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Estimated District Population
258,700
Miles
?6 miles south-east of Beverley
50 miles east of Leeds
Roads
?A5, M1, M40
Rail
?Hull Rail, Cottingham Rail
Air
?Humberside, Leeds Airport
Situation
The property is situated on the west side of the fashionable Newland Avenue, some 500 metres south of the University of Hull.
Tenure
Freehold.
Location
Estimated District Population
258,700
Miles
?6 miles south-east of Beverley
50 miles east of Leeds
Roads
?A5, M1, M40
Rail
?Hull Rail, Cottingham Rail
Air
?Humberside, Leeds Airport
Situation
The property is situated on the west side of the fashionable Newland Avenue, some 500 metres south of the University of Hull.
Tenure
Freehold.
Description
The property is an attractive MID TERRACE PERIOD BUILDING comprising RETAIL ACCOMMODATION on the ground floor and ANCILLARY ACCOMMODATION on the first floor. First floor accommodation is not currently used by the tenant and the tenant has extended the ground floor. VATVAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is an attractive MID TERRACE PERIOD BUILDING comprising RETAIL ACCOMMODATION on the ground floor and ANCILLARY ACCOMMODATION on the first floor. First floor accommodation is not currently used by the tenant and the tenant has extended the ground floor. VATVAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground Ground First
Retail Ancillary Not Used
103.70 sq m 16.00 sq m
(1,116.23 sq ft) (172.22 sq ft)
LADBROKES BETTING AND GAMING LIMITED (1)
15 years from 05/01/2007 until 2022 on a full repairing and insuring lease
£18,500
Rent review outstanding from 05/01/2010. Notice served proposing £22,275 p.a.x. 3 yearly reviews thereafter
Not measured
Totals
119.70 sq m
(1,288.45 sq ft)
(1) For the year ending December 2008 Ladbrokes Betting and Gaming Limited reported a turnover of ?902,171,000, pre-tax profits of ?278,122,000 and a net worth of ?585,091,000. (Source: www.riskdisk.com 16/04/2010) (2) The lease refers to a schedule of condition but one was never produced nor agreed.
