11 Reed Street, Hull, NHS

The property comprises a two storey building of brick construction. The property provides 4,939 sq ft of retail/workshop space.The property is situated on a site of around 0.073 hectares (0.179 acres).
The property is located in Kingston-upon-Hull, approximately 1 mile north of the city centre. The property has a prominent frontage to Freetown Way with access to the site provided from Reed Street. Adjacent occupiers include DFS whilst there is a large public car park opposite the site.

Sale Notes:
The available space comprises a former fast-fit workshop which has been converted by the current sub-tenant to
provide an attractive ground floor open showroom space with four large fully glazed window displays to
Reed Street. We understand the loading bay roller shutter doors remain in situ above the window displays
and so could easily be reinstated.

The ground floor also has a staff kitchen and disabled WC facilities. There are stairs providing access to two
offices and WC at first floor level.
The property is held on a Long Leasehold from Hull City Council for a term of 125 years from 11th August 1986
at a ground rent of £10 per annum fixed for the whole term. There are therefore over 100 years unexpired.

The whole property is let to Kwik-Fit Properties Limited with Kwik-Fit Holdings Limited as guarantor, for a term
of 30 years from 28th December 2000 at a current rent of £43,005 per annum. The rent is to be reviewed
every fifth year to the higher of the open market rental value or the rent reserved. There is a guaranteed uplift
at December 2015 effectively to £49,854 per annum or open market rental value whichever is the greater.
The whole property is sublet to Traditional Contemporary Bathrooms Limited, on a lease excluded from the Landlord and Tenant Act 1954 provisions, for a ten year term from 2010 at an initial rent of £30,000 and
rising in £2,500 per annum increments to £42,500 per annum by the start of the sixth year.