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Hull – Freehold Shop and Residential Ground Rent Investment

For sale: £90,000.00|840 Sq Ft|Retail, General Retail, Retail - High Street, Mixed Use, Residential, Other Property Types & Opportunities

Property details

FOR SALE£90,000.00
SIZE840 Sq Ft
ADDRESS346 Hessle Road, Hull, North Humberside HU3 3SB
TYPERetail, General Retail, Retail - High Street, Mixed Use, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON2nd June 2020

Description

Investment Consideration:.
Gross Initial Yield: 6.36%
Rental Income: £5,725 p.a.
VAT is NOT applicable to this property
Comprises a ground floor retail shop with A1 usage
Nearby occupiers include Lloyds Bank, Quick Silver, William Hill, Greggs, Iceland, amongst other local traders

Property Description:
The property is arranged as a ground floor retail shop with A1 usage.

The property provides the following accommodation and dimensions:
Ground Floor Retail Shop: 78.00 sq m (840 sq ft)

Tenancy:
The shop is at present let to an Individual for a term of 5 years from 29th October 2021 at a current rent of £5,700 per annum and the lease contains full repairing and insuring covenants. Rent review on 29.10.2024. Rent deposit held of £950. The first and second floor residential flat is sold off on long lease for term of 125 years at a current ground rent of £25 per annum.

Location:
Hull has a population of 243,589 and lies on the northern bank of the Humber Estuary about 55 miles east of Leeds. Hull is linked to the national motorway network via the M62 Trans-Pennine motorway and also by the M180 motorway via the Humber Bridge. The property has a frontage to Hessle Road.

Location

marker
Location: 346 Hessle Road, Hull, North Humberside HU3 3SB

Hull Paragon (1.2 miles)

Barrow Haven (2.9 miles)

Hessle (3.4 miles)

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