28 King Edward Street, Hull, East Riding Of Yorkshire, HU1 3SS

Lot 14

INDUSTRIAL, COMMERCIAL INVESTMENT

Guide Price: £300,000 Plus*

  • Substantial City Centre Investment - currently producing £47,700pa
  • Comprises attractive five storey inner terrace
  • Ground floor let to Subway on FRI terms at £46,200pa
  • New 15 year lease at £26,000
  • First floor let at £1,500 until December 2021
  • Vacant upper floors providing additional potential
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Property Details

Substantial inner terrace with accommodation over 5 levels, located in the heart of Hull City centre. The Ground floor and basement are let to Subway by way of a 1954 Act full repairing & insuring lease which expired in 2017. Passing rent is £46,200pa First floor is let to a War Gaming society on a 3 year internal repairing & insuring lease which expired in December 2018 at £1,500pa Upper floor are vacant offering further potential

On instructions from NPS acting on behalf of Hull City Council

Description
An imposing inner terrace property located in the heart of Hull City centre close to the junction of King Edward Street and Jameson Street.

Accommodation
The accommodation extends over five levels including basement storage

Lease Terms
Ground floor and basement are let to Subway by way of a 1954 Act full repairing & insuring lease which expired in 2017. Passing rent is £46,200pa A new 15 year lease is being negotiated at £26,000pa with 5 year rent reviews

The First floor is let to a War Gaming society on a 3 year internal repairing & insuring lease which expired in December 2018 at £1,500pa
Second, third & fourth floors are vacant

Rating Assessment
Ground Floor and basement - RV £20,000

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Adrian Little
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