Unit A, South Orbital Trading Park Hedon Road Kingston-upon-Hull East Yorkshire HU9 1NB

  • Unit A, South Orbital Trading Park<br>Hedon Road<br>Kingston-upon-Hull<br>East Yorkshire<br>HU9 1NB

Unit A, South Orbital Trading Park
Hedon Road
Kingston-upon-Hull
East Yorkshire
HU9 1NB

Prominent Industrial/Trade Counter Investment

  • Let to PPG Architectural Coatings UK Limited t/a Johnstone’s Decorating Centre
  • New 10 year lease (renewal) from December 2017 (subject to option)
  • Approximately 6,931 sq ft
  • Nearby occupiers include Lidl, Howden’s Joinery and Element Materials Technology
  • Prominent location fronting A63 Ring Road
  • Lot
    75
  • Auction
    11th July 2018
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £240,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Prominent Industrial/Trade Counter Investment

  • Let to PPG Architectural Coatings UK Limited t/a Johnstone’s Decorating Centre
  • New 10 year lease (renewal) from December 2017 (subject to option)
  • Approximately 6,931 sq ft
  • Nearby occupiers include Lidl, Howden’s Joinery and Element Materials Technology
  • Prominent location fronting A63 Ring Road
  • Lot 75
  • Auction 11th July 2018
  • Rent £40,000 per Annum Exclusive
  • Status Sold
  • Price £240,000
  • Sector
    Industrial, Warehouse
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
1 mile east of Hull city centre, 35 miles south-east of York, 50 miles east of Leeds
Roads
A63, A165, M62
Rail
Hull Paragon Interchange Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation

The property is situated on the strategically located South Orbital Trading Park, approximately one mile east of Hull city centre. The property benefits from excellent roadcommunications, fronting A63 Ring Road. Nearby occupiers include Lidl, Howden’s Joinery and Element Materials Technology. The £160 million Siemens Wind Frame Complex is located at the nearby Alexandra Dock.

Tenure

Long Leasehold. The property is held for a term of 125 years less one day from 01/09/1982 until 30/08/2107 at a current ground rent of £12,765 per annum, reviewed every 5 years to the value of the land only, not reflecting the value of the buildings on the land. The next rent review is on 01/09/2022.

Location
Miles
1 mile east of Hull city centre, 35 miles south-east of York, 50 miles east of Leeds
Roads
A63, A165, M62
Rail
Hull Paragon Interchange Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation

The property is situated on the strategically located South Orbital Trading Park, approximately one mile east of Hull city centre. The property benefits from excellent roadcommunications, fronting A63 Ring Road. Nearby occupiers include Lidl, Howden’s Joinery and Element Materials Technology. The £160 million Siemens Wind Frame Complex is located at the nearby Alexandra Dock.

Tenure

Long Leasehold. The property is held for a term of 125 years less one day from 01/09/1982 until 30/08/2107 at a current ground rent of £12,765 per annum, reviewed every 5 years to the value of the land only, not reflecting the value of the buildings on the land. The next rent review is on 01/09/2022.

Description

The property comprises a detached industrial/trade counter unit with ancillary accommodation on the first floor, on a site area of 0.2 hectares (0.5 acres).

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a detached industrial/trade counter unit with ancillary accommodation on the first floor, on a site area of 0.2 hectares (0.5 acres).

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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/
(Reversion)
Ground

First 		Trade Counter/Industrial

Ancillary
557.80 sq m

86.10 sq m
(6,004 sq ft)

(927 sq ft)
PPG
ARCHITECTURAL
COATINGS UK
LIMITED (1)
t/a Johnstone’s
Decorating Centre 		10 years from
21/12/2017 (2)
on a full
repairing and
insuring lease		 £40,000 21/12/2022
(20/12/2027)
Total
643.90 sq m
(6,931 sq ft)
    £40,000  

(1) For the year ending 31st December 2016, PPG Architectural Coatings UK Limited reported a turnover of £228,839,000, pre-tax profits of £42,714,000 and a total net worth of £199,682,000 (Source: Experian Group 12/06/2018).
(2) The lease is subject to a tenant option to determine on 21st December 2022.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
PPH Commercial The Hesslewood Estate, Ferriby Road
Hessle
East Yorkshire
HU13 0LG
Ben Cooper 01482 648888 ben.cooper@pph-commercial.co.uk
Seller's Solicitors
Graham & Rosen 8 Parliament Street
Kingston-upon-Hull
HU1 2BB
Adam Waller 01482 323 123afw@graham-rosen.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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