Nearby occupiers include the adjoining TSB Bank as well as Sainsbury’s Local and branches of HSBC and Lloyds banks
Prominent corner position
Lot 29
Auction 18th October 2018
Rent £39,751 per Annum Exclusive
Status Sold
Price £405,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
38 miles south-east of York
58 miles east of Leeds
Roads
A63, A1079
Rail
Hull Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property occupies a prominent corner location fronting Paragon Street and South Street and close to Jameson Street, in the heart of Hull city centre. Nearby occupiers include the adjoining TSB Bank, as well as Sainsbury’s Local and branches of HSBC and Lloyds banks. Prospect Shopping Centre is a short walk away, with retailers including WHSmith, Wilko, Iceland and Boots the Chemist, as well as providing car parking for approximately 250 cars. St. Stephens Shopping Centre, as well as Hull’s main railway and bus terminals, are close by.
Tenure
Freehold. Held for a term of 999 years from 31/05/2018 at a peppercorn rent.
Location
Miles
38 miles south-east of York
58 miles east of Leeds
Roads
A63, A1079
Rail
Hull Railway Station
Air
Doncaster/Sheffield Robin Hood Airport
Situation
The property occupies a prominent corner location fronting Paragon Street and South Street and close to Jameson Street, in the heart of Hull city centre. Nearby occupiers include the adjoining TSB Bank, as well as Sainsbury’s Local and branches of HSBC and Lloyds banks. Prospect Shopping Centre is a short walk away, with retailers including WHSmith, Wilko, Iceland and Boots the Chemist, as well as providing car parking for approximately 250 cars. St. Stephens Shopping Centre, as well as Hull’s main railway and bus terminals, are close by.
Tenure
Freehold. Held for a term of 999 years from 31/05/2018 at a peppercorn rent.
Description
The property comprises a ground floor supermarket with additional basement ancillary accommodation, forming part of a larger building.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor supermarket with additional basement ancillary accommodation, forming part of a larger building.
VAT
VAT is 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
Ground
Basement
Supermarket/ Ancillary Ancillary
221.00 sq m
121.80 sq m
(2,379 sq ft)
(1,311 sq ft)
HERON FOODS LIMITED (1)
10 years from 01/06/2013 until 31/05/2023 on a full repairing and insuring lease
£39,751
Total
342.80 sq m
(3,690 sq ft)
£39,751
(1) Heron Foods Limited was incorporated in 1978 and operates from some 250 outlets nationwide. For the year ending 31st December 2016, Heron Foods Limited reported a turnover of £274,440,000, pre-tax profits of £8,727,000 and a total net worth of £34,544,000 (Sources: www.heronfoods.com and Experian Group 19/09/2018).
