Freehold Retail and Residential Investment
Freehold Retail and Residential Investment
Hornsea is a popular seaside town approximately 13 miles east of Beverley. The town is well known for having the first ‘Factory Outlet’ shopping scheme, which draws considerable footfall from an extensive area of Northern England. The property is located in an established neighbourhood parade, adjacent to a Post Office.
Freehold.
Hornsea is a popular seaside town approximately 13 miles east of Beverley. The town is well known for having the first ‘Factory Outlet’ shopping scheme, which draws considerable footfall from an extensive area of Northern England. The property is located in an established neighbourhood parade, adjacent to a Post Office.
Freehold.
The property comprises retail accommodation on the ground floor and residential accommodation comprises a 2 bedroom flat to the rear of the ground floor and on the first floor.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises retail accommodation on the ground floor and residential accommodation comprises a 2 bedroom flat to the rear of the ground floor and on the first floor.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground Ground Ground and First (Rear) |
Retail Ancillary Residential |
71.90 sq m 33.26 sq m Not measured |
(774 sq ft) (358 sq ft) |
MARTIN MCCOLL LIMITED (1) |
20 years from 18/10/2012 until 2032 on a full repairing and insuring lease (2) |
£20,000 |
18/10/2017 and 5 yearly (fixed rental increases at 2% per annum compounded) |
| Total Commercial Area | 105.16 sq m |
(1,132 sq ft) |
£20,000 | ||||
1) For the year ending 27th November 2011, Martin McColl Limited reported a turnover of £380,485,000, a pre-tax profit of £18,068,000 and a total net worth of £100,676,000. (Source www.riskdisk.com 15/01/2013)
(2) The lease provides for 5 yearly rent reviews with fixed Rental Increases at 2% per annum compounded.
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