Offers over
£100,000
(£36.59/sq. ft)
Retail premises for saleKing Edward Street, Hull HU1
2,733 sq. ft
Just added
About this property
City centre shop near Costa, Three, McDonald’s and Specsavers
Ground floor sales c.49.3 sq m, potential basement sales c.55 sq m
Three upper floors totalling c.150 sq m
Held on an occupational lease by Gadgets4 UK Retail Limited t/a Fone World
At £15,600 per annum exclusive
Long leasehold title subject to fixed ground rent of £1,875 per annum
Profit rent £13,725 per annum exclusive
King Edward Street is a prime pedestrianised shopping pitch linking Princes Quay and Whitefriargate via Jameson Street to St Stephens and the adjacent transport interchange. Retailers represented nearby include Costa, Specsavers, Tesco Express, Three, Lush and McDonald’s.
The property is situated close to the former bhs property which with adjacent buildings and land to Albion Strreet / Bond Street is the site of a mixed use redevelopment scheme.
Accommodation
Shop unit with pavement level access and full height display front providing the following:
Ground floor sales area 49.3 sq m (530 sq ft)
Basement – potential sales 55.0 sq m (592 sq ft)
First floor office, stores and staff areas 45.6 sq m (490 sq ft)
Second floor stores 48.9 sq m (526 sq ft)
Third floor stores 55.2 sq m (595 sq ft)
Rateable Value
The property is described as ‘Shop & Premises’ with a rateable value of £13,500 (2023 Rating List).
Occupational Lease
The property is held by Gadets4 UK Retail Limited t/a Fone World on a 10 year commercial full repairing and insuring lease from March 2017 at a rebased rent of £15,600 per annum exclusive.
Tenure
The long leasehold interest in the property is offered For Sale. This represents the balance of a 99 year term held from Hull City Council expiring in June 2054 at a fixed rent of £1,875 per annum.
Disposal Terms
The long leasehold interest is offered For Sale subject to an occupational lease producing a profit rent of £13,725 per annum exclusive. Offers over £100,000 are invited.
The property is situated close to the former bhs property which with adjacent buildings and land to Albion Strreet / Bond Street is the site of a mixed use redevelopment scheme.
Accommodation
Shop unit with pavement level access and full height display front providing the following:
Ground floor sales area 49.3 sq m (530 sq ft)
Basement – potential sales 55.0 sq m (592 sq ft)
First floor office, stores and staff areas 45.6 sq m (490 sq ft)
Second floor stores 48.9 sq m (526 sq ft)
Third floor stores 55.2 sq m (595 sq ft)
Rateable Value
The property is described as ‘Shop & Premises’ with a rateable value of £13,500 (2023 Rating List).
Occupational Lease
The property is held by Gadets4 UK Retail Limited t/a Fone World on a 10 year commercial full repairing and insuring lease from March 2017 at a rebased rent of £15,600 per annum exclusive.
Tenure
The long leasehold interest in the property is offered For Sale. This represents the balance of a 99 year term held from Hull City Council expiring in June 2054 at a fixed rent of £1,875 per annum.
Disposal Terms
The long leasehold interest is offered For Sale subject to an occupational lease producing a profit rent of £13,725 per annum exclusive. Offers over £100,000 are invited.
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