Retail premises for sale

King Edward Street, Hull HU1

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.

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)

Rateable Value

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

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.

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.