Former Agriculture House, Walkergate, Beverley, East Yorkshire, HU17 9EP
For Sale £1,200,000 (Offers in the region of)
- Size: 4,522 sq.ft. / 4,522 sq.ft.
- Property Ref: 1163
- Type: Commercial Investment
The property comprises a substantial two-storey commercial building providing ground and first floor accommodation, with a mixture of retail, leisure and ancillary uses. The ground floor is occupied by Magnet Limited, who have recently entered into a new 10-year lease commencing 17 July 2025, with a passing rent of £43,000 per annum and a rent review scheduled for 17 July 2030. The accommodation is fitted out as a high-quality kitchen display showroom and provides a modern specification including suspended ceilings, LED lighting, separate ladies and gents WC facilities, disabled WC accommodation, together with dedicated office, kitchen and storage areas.
The first floor is occupied by Sonali Spice, an established Indian restaurant operator, who have been trading from the premises for approximately 10 years and have recently committed to a new 15-year lease from 24 June 2026. The lease provides for five-yearly rent reviews and a passing rent of £42,000 per annum. The restaurant accommodation benefits from its own private access from the south elevation, together with access via the main internal stairwell and a disabled platform lift. Internally, the accommodation provides an open-plan restaurant and bar area, separate commercial kitchen, storage facilities and customer WC accommodation.
Property features
- Located on a prominent position on Walkergate.
- Close proximity to Beverley retail town centre and Tesco Supermarket.
- The property benefits from established and long-standing occupiers, with Magnet Limited having approximately 9 years remaining and Sonali Spice has recently committed to a new 15-year lease
- Provides a Net Initial Yield 6.71% after purchase costs of 5.63%. Gross Yield of 7.08%.
