Retail Property (High Street)
A freehold investment opportunity comprising a two-storey building located along the busy Boothferry Road, North Humberside occupied by Iceland Foods Ltd. Current rental income £66,133 rising to £74,823 pa from 28th February 2025.
The property is arranged on ground and one upper floor to provide a ground floor supermarket with a general office, whilst the first floor provides storage and staff facilities. The property benefits from a goods lift and side loading access off Stanhope Street.
The property provides the following accommodation and dimensions (GIA)
Gross Frontage 11.25m
Net Frontage 10.20m
Shop Depth 38.30m
Built Depth 44.25m
Ground Floor 485.80sq.m (5,229 sq. ft)
First Floor 490.90sq.m (5,284 sq. ft)
The property is let to ICELANDS FOODS LTD for a term of 25 years from 28 February 2005 at initial rent of £45,662 pa. The lease provides rent reviews every 5 years.
Current rent passing £66,133 pa rising to £74,823 pa from 28th February 2025.
Iceland has over 800 stores and Total sales at Iceland climbed 7.2% to £3.86bn for the 52 weeks ending 24 March 2023 (FY2022).
The property is located in Goole within an established part of the western end of the river Humber, 22 Miles west of Kingston Upon Hull and 12 Miles Southwest of Scunthorpe, Junction 36 of the M62 and M62/M18 (Junction 7) are located 1 and 3 miles respectively west of the town Centre.
The property is situated in a busy pedestrianised location on one of Gooles principal retail thoroughfares. Within the vicinity are multi storey car parks, Goole Railway station, busy stops and numerous National retailers.
Interested parties are advised to inspect the legal pack for more information.
We are advised VAT is applicable. See legal pack for confirmation.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to lease.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
