MKM BUILDING SUPPLIES 2 Industrial Properties Offered at £5,900,000 in Hull
INVESTMENT HIGHLIGHTS
- Adjacent to one of the North’s leading retail parks
- Access via A63
- Excellent vehicle access
EXECUTIVE SUMMARY
The property is let on two coterminous leases from 11 December 2020 to 10 December 2045, with slightly differing 5 yearly rent review dates, and NO BREAK OPTIONS. The rent reviews are to the higher of the minimum defined figures in the leases, or Open Market Rental. The final review in December 2040 is linked to the increase in the Consumer Price Index (CPI), with a collar of 0% and a cap of 4% per annum. The leases are on a full repairing and insuring basis, subject to a schedule of condition on the rear building and rear yard.
Freehold sale for £5,900,000.
The main building and site (in red) was completed in 2011 to a high specification. The main unit is portal frame with first floor showroom and further mezzanine storage. The unit includes part glazed frontages, and customer lift access to the first floor. The ground floor showroom has underfloor heating. The rear unit and additional yard (in blue) is single storey steel frame, with clad roof and walls. The total site is fully surfaced.
Freehold sale for £5,900,000.
The main building and site (in red) was completed in 2011 to a high specification. The main unit is portal frame with first floor showroom and further mezzanine storage. The unit includes part glazed frontages, and customer lift access to the first floor. The ground floor showroom has underfloor heating. The rear unit and additional yard (in blue) is single storey steel frame, with clad roof and walls. The total site is fully surfaced.
PROPERTY FACTS
| Price | £5,900,000 |
| Price / SF | £294.59 / SF |
| Net Initial Yield | 5.01% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 20,028 SF |
| Total Land Area | 1.85 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
MKM BUILDING
Springfield Way, Hull HU10 6RJ |
Industrial | 3,368 SF | 2011 | - |
| Springfield Way, Hull HU10 6RJ | Industrial | 16,660 SF | 2011 | - |
