Hull | 32 King Edward Street

LONG LEASEHOLD RETAIL INVESTMENT FOR SALE
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 and 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.

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Description

Long leasehold retail investment for sale. Ground floor sales c.49.3 sq m, potential basement sales c.55 sq m and 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

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.

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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)

Further Information

Rateable Value

The property is described as ‘Shop & Premises’ with a rateable value of £14,750 (2026 Rating List).

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.