For SaleInvestment

Description

Property

The property comprises of 4 City Centre units suitable for a mixture of retail, leisure, and food and beverage uses at the ground and part first floor level.

Please refer to the location plan on page 7 which identifies the location of the properties as follows:

69 Paragon Street provides ground floor cafe premises, plant room, two cold stores, kitchen/preparation room and first floor offices.

71-72 Paragon Street a corner unit which provides a ground floor retail premises previously trading as Cooplands. The property benefits from a kitchen/ preparation room, WC and store. The unit fronts Paragon Street with a large return frontage to South Street.

16 South Street provides a ground floor retail premises benefiting from an attractive frontage to South Street.

10 South Street provides a ground floor lock up unit currently let and trading as Julies.

EPC

69 Paragon Street : D83

71-72 Paragon Street: D83

10 South Street: Currently being reassessed

16 South Street: E121

Location

The property is located in Kingston Upon Hull (Hull), a city in the East Riding of Yorkshire. Hull has a population of 267,100 according to Census 2021.

The property occupies a prominent position on Paragon Street, a busy mixed use City Centre location linking to Queen Victoria Square and running parallel to Jameson Street. The street
is conveniently positioned for all central area amenities and the transport interchange. Within close proximity is the train station, bus terminus, St Stephens and Princess Quay Shopping Centres, as well as various multi-storey public car parks.

Services

We understand that mains water, electricity and drainage supplies are available and connected to the property. These have not been tested and interested parties are advised to make their own investigations to the relevant utility service providers.

Town & Country Planning

We understand that the property has consent for uses falling within Class E(g) (Commercial, Business & Services Use) of the Town and Country Planning (Use Classes) Order 1987 (as amended 2020).

Interested parties are advised to make their own investigations with the Local Planning Authority.

Tenure

Offers are invited for the long leasehold interest in the property which is held by way of a 999 year lease at a peppercorn rent from 11th November 2019. A copy of the lease is available on request.

Offers are invited in the region of £375,000 which equates to £42 per sq ft for the long leasehold interest.

Our client will also consider a letting of the whole or part.

VAT

VAT may be charged in addition to the price /rent at the prevailing rate.

Legal Costs

Each party is to be responsible for their own legal costs incurred in documenting the transaction.