Available
Beverley – William Hill
10 Samman Road, Beverley, North Humberside HU17 0BSLong Leasehold Retail Investment
Price
£155,000
Rent P.A.
£11,725
Yield
7.56%
Tenure
Leasehold
Lease Term
15 Years
Years Left on Lease
11y 9m
Area
1,145 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor retail shop t/a William Hill
- Let until January 2038. Rent review and tenant break option in 2033.
- Occupiers close by include Lloyds Pharmacy, One Stop and a number of local retailers serving a predominantly residential area.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises end-of-terrace ground floor shop with double frontage currently t/a William Hill betting shop, providing the following accommodation and dimensions:
Ground Floor: 106.40 sq m (1,145 sq ft)
Open plan retail, kitchen, office, wc
Ground Floor: 106.40 sq m (1,145 sq ft)
Open plan retail, kitchen, office, wc
Tenancy Description
The property is at present let to William Hill Organization Ltd for a term of 15 years from 10th January 2023 at a current rent of £11,725* p.a. and the lease contains full repairing and insuring covenants. Rent review in January 2033 open market upward only. Tenant option to determine in January 2033 with min 6 months notice.
* Tenant currently pays rent of £10,000 p.a. CPI linked rent review 10.01.28 (annualised). Approximate rental increase to £11,725 p.a. Vendor will top up rent so the buyer receives the equivalent to £11,725 p.a. from sale completion.
Tenure:
Long leasehold. Held on a lease for a term of years from 29th February 1995 expiring 17th January 2113 at a current ground rent of £10 per annum.
* Tenant currently pays rent of £10,000 p.a. CPI linked rent review 10.01.28 (annualised). Approximate rental increase to £11,725 p.a. Vendor will top up rent so the buyer receives the equivalent to £11,725 p.a. from sale completion.
Tenure:
Long leasehold. Held on a lease for a term of years from 29th February 1995 expiring 17th January 2113 at a current ground rent of £10 per annum.
Tenancies & Accommodation
Location Description
Beverley is an attractive market town which is famous for its 15th Century Minster and Racecourse and is located 8 miles north of Hull. There are good road communications being located at the junction of the A164 and A1035 some 11 miles to the north-east of the M62 (Junction 38). The property is situated on the north of Samman Road between its junctions with Coltman Avenue and Wilberforce Crescent. Occupiers close by include Lloyds Pharmacy, One Stop and a number of local retailers serving a predominantly residential area.
