10 Samman Road, Beverley, East Riding Of Yorkshire, HU17

Investment Consideration:
Gross Initial Yield: 6.37%
Rental Income: £10,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor retail shop t/a William Hill
CPI linked rent review in 5th year (annualised) then upwards only open market review in 10th year.
Occupiers close by include Lloyds Pharmacy, One Stop and a number of local retailers serving a predominantly residential area.

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

Tenancy:
The property is at present let to William Hill Organization Limited for a term of 15 years from 10th January 2023 at a current rent of £10,000 per annum and the lease contains full repairing and insuring covenants. CPI linked rent review in 5th year (annualised) then upwards only open market review in 10th year. Tenant option to determine in the 10th year with min 6 months notice.

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.

Location:
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.