Investment for sale
c.1.35 acres (0.54 Ha) let to Avanti Gas Limited
Passing rent £29,000 p.a.
Rent review to OMV or RPI (December 2024)
No caps or collars
Offers in the region of £500,000
The property is on the south side of the A63 at the South Cave junction approximately 13 miles west of Hull, 16 miles east of Goole and 48 miles east of Leeds.
Description
The investment comprises c.1.35 acres (0.54 Ha) of a regular shaped site with a mix of tarmac, hardcore and concrete surfaces, currently used as a gas storage depot in relation to the tenant’s business.
Accommodation
c.1.35 acres (0.54 Ha)
Terms
The property is let to Avanti Gas Limited (Company No: 00481121), expiring 24 December 2029, with a current passing rent of £29,000 per annum with a rent review due on 25 December 2024 to open market value or RPI (no caps or collars).
Company Information: Avanti Gas Limited www.avantigas.com. Latest accounts (30/09/22) show a turnover of £230m, pre-tax profits £8.1m and shareholders’ funds of £71.9m.
PRICE
£500,000.
TENURE
Freehold subject to a lease to Avanti Gas Limited.
VAT
VAT is applicable to a sale.
RATEABLE VALUE
The property is described as ‘Land used for storage & Premises’ with a Rateable Value of £22,750 (2023 Rating List). Under current legislation, a qualifying small business will benefit from full rates relief.
Property Enquiry
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