Offers in region of
£640,000
(£168.11/sq. ft)
Retail premises for sale82 Shannon Road, Hull, East Riding Of Yorkshire HU8
3,807 sq. ft
Freehold
About this property
Forms part of an established parade of retail shops on Longhill Estate.
Heron Foods Ltd are paying £52,730 per annum on a lease expiring on the 1st of October 2031.
Rent review scheduled on the 1st of October 2029.
Provides a Net Initial Yield of 7.86% after purchase costs of 4.86%.
Heron Foods Ltd has over 300 stores and is a parent company to B&M.
The property comprises of a single storey commercial retail unit with an open plan sales area with rear store, staff and storage amenities. The property is being held on a full repairing and insuring (Fri) lease from the 2nd of April 2014 for a term of seventeen and a half years, due to expire on the 1st of October 2031, the current passing rent is £52,730 per annum, with a rent review due on the 1st of October 2029. The tenant is Heron Foods Limited (01392197);.their accounts for 30th of March 2024 showing a turnover of £560,585,000 (Five Hundred and Sixty Million Five Hundred and Eighty Five Thousand Pounds) with a pre-tax profit of £22,708,000 (Twenty Two Million Seven Hundred and Eight Thousand Pounds) and net assets of £98,064,000 (Ninety Eight Million and Sixty Four Thousand Pounds) .
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