Property photos
£1,000,000
Property for sale
Holderness Road, Hull, East Riding Of Yorkshire HU9Local area information
Property location
Nearby amenities
- Buckingham Primary Academy 0.1 miles
- Estcourt Primary Academy 0.3 miles
- Hull 1.6 miles
- Hull Ferry Terminal 1.7 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Let to Heron Foods Limited on two leases expiring 26 January 2032 (no breaks)
- Current combined rent passing £66,000 per annum
- No.280-284 lease subject to five yearly rent review (next review to cpi minimum of 1% max 3% p.a.) - January 2025
- No.272-282 Lease subject to review to omr - 12 September 2027
- Guide Price £1,000,000 net initial yield of 6.26% (allowing for usual purchasers costs)
The property is an end-terrace retail shop with part return frontage, comprising a two-storey building of mixed brick construction with stone effect cladding to the first-floor elevation. The roof and floors are made of reinforced concrete. There is rear access to a yard which leads to rear stores and a lift serving first floor stores.
Store redevelopment
A lease was signed to Heron Foods Limited on 12th September 2022 for 272-282 Holderness Road in order to combine the two buildings into one large retail unit, this has recently been completed. Heron are trading from 305 stores at present and this store trades in the top quartile of those stores*.
*Information provided by Heron Foods Limited
Location
The property is located on the corner of Holderness Road and Holland Street, a densely populated area approximately 1 mile east of Hull city centre situated within an established parade of shops. Holderness Road serves as one of the main access routes carrying high volumes of traffic and providing cross city connections from the East
into Hull. There are a range of retail, takeaway and professional service occupiers, nearby businesses include Cooplands and British Heart Foundation.
Tenure
The freehold interest is available subject to the leases at a guide price of £1,000,000 reflecting 6.26% net initial yield (after allowing for purchaser's costs of 5.45%).
Store redevelopment
A lease was signed to Heron Foods Limited on 12th September 2022 for 272-282 Holderness Road in order to combine the two buildings into one large retail unit, this has recently been completed. Heron are trading from 305 stores at present and this store trades in the top quartile of those stores*.
*Information provided by Heron Foods Limited
Location
The property is located on the corner of Holderness Road and Holland Street, a densely populated area approximately 1 mile east of Hull city centre situated within an established parade of shops. Holderness Road serves as one of the main access routes carrying high volumes of traffic and providing cross city connections from the East
into Hull. There are a range of retail, takeaway and professional service occupiers, nearby businesses include Cooplands and British Heart Foundation.
Tenure
The freehold interest is available subject to the leases at a guide price of £1,000,000 reflecting 6.26% net initial yield (after allowing for purchaser's costs of 5.45%).
More information
Listed by
Scotts Property LLP
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