82 Shannon Road, Hull, East Riding of Yorkshire, HU8 9PD
For Sale £640,000 (Offers in the region of)
- Size: 3,807 sq.ft. / 3,807 sq.ft.
- Property Ref: 12265
- Type: RETAIL
The property comprises of a single storey commercial retail unit with an open plan sales area with rear store, staff and storage amenities. The property is being held on a full repairing and insuring (FRI) lease from the 2nd of April 2014 for a term of seventeen and a half years, due to expire on the 1st of October 2031,the current passing rent is £52,730 per annum , with a rent review due on the 1st of October 2029. The tenant is Heron Foods Limited (01392197);.their accounts for 30th of March 2024 showing a turnover of £560,585,000 (Five Hundred and Sixty Million Five Hundred and Eighty Five Thousand Pounds) with a pre-tax profit of £22,708,000 (Twenty Two Million Seven Hundred and Eight Thousand Pounds) and net assets of £98,064,000 (Ninety Eight Million and Sixty Four Thousand Pounds) .
Property features
- Forms part of an established parade of retail shops on Longhill Estate.
- Heron Foods Ltd are paying £52,730 per annum on a lease expiring on the 1st of October 2031.
- Rent review scheduled on the 1st of October 2029.
- Provides a Net Initial Yield of 7.86% after purchase costs of 4.86%.
- Heron Foods Ltd has over 300 stores and is a parent company to B&M.
