ADDRESS400 Beverley Road, Hull, North Humberside HU5 1LW
TYPEResidential, Flat, General Retail, Mixed Use, Retail, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON2nd June 2020
Investment Consideration: Comprises a ground floor shop with ancillary accommodation on the first and second floors. Lease expiry 2038, no breaks. VAT is NOT applicable to this property. Occupiers nearby include Londis, A&D Market, amongst other local traders and residential neighbourhood.
Property Description: The property is arranged as a ground floor shop with ancillary accommodation on the first and second floors.
The property provides the following accommodation and dimensions: Ground Floor Shop: 80.82 sq m (870 sq ft) Shop Frontage: 15 ft on Beverley Road
First Floor Living Room, Bathroom/WC, Kitchen
Second Floor: Two double bedrooms
Tenancy: The entire property is at present let to Z. Ibrahim t/a Convenience Store for a term of 20 years from 9th May 2018 at a current rent of £10,000 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent review in 2025 and every fifth year thereafter. Rent deposit held of £5,000.
Location: Hull has a population of 243,589 and lies on the northern bank of the Humber Estuary about 55 miles east of Leeds. Hull is linked to the national motorway network via the M62 Trans-Pennine motorway and also by the M180 motorway via the Humber Bridge. The property has a frontage to Beverley Road part of the main A1079 close to the junction with Cottingham Road the B1233