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Freehold Retail and Residential Investment
Comprises a three storey retail unit with two upper residential flats
Situated just off the prime pedestrianised Whitefriargate
Located on historic town centre thoroughfare
VAT is not applicable to this property
Occupiers nearby including Superdrug, hsbc, Boots and Greggs
Investment Consideration: Gross Initial Yield: 7.85% Rental Income: £21,200 p.a. VAT is not applicable to this property. Attractive Grade II listed building located on historic town centre thoroughfare. Comprises a three storey retail unit with two upper residential flats. Situated just off the prime pedestrianised Whitefriargate. One of Hull`s prime retail thoroughfares housing occupiers including Superdrug, hsbc, Boots and Greggs.
Property Description: The property, a Grade II listed building, comprises a ground floor retail unit with ancillary accommodation on first and second floors. In addition, there are two self-contained residential flats on upper floors.
The property provides the following accommodation and dimensions: No. 2 (Ground Floor and First/Second Floors Retail Shop) Ground Floor Retail: 87.50 sq m (942 sq ft) First Floor Ancillary: 66.90 sq m (720 sq ft) Second Floor Ancillary: 71.30 sq m (767 sq ft)
Flat C (First/Second Floor) Residential Flat Comprises 2 Bedrooms, Kitchen and Bathroom
Flat D (First/Second Floor) Residential Flat Comprises 2 Bedrooms, Kitchen and Bathroom
Tenancy: The shop is at present let to an Individual t/a Horizon Tattoo Co for a term of 5 years from 1st August 2018 at a current rent of £8,000 per annum and the lease contains full repairing and insuring covenants. The lease provides the tenant option to determine on 01/08/2020 subject to 6 months notice.
The first/second floor residential flat (No. 2C) is at present let on an AST to an individual for a term of 12 months from 1st July 2019 at a current rent of £6,300 per annum. Rent deposit held of £525.
The first/second floor residential flat (No. 2D) is at present let on an AST to an individual for a term of 12 months from 2019 (Holding Over) at a current rent of £6,900 per annum. Rent deposit held of £575.
Location: The property is situated on the western side of Land of Green Ginger, a historic street off the pedestrianised Whitefriargate, one of Hull`s prime retail thoroughfares housing occupiers including Superdrug, hsbc, Boots and Greggs.
For more information about this property, please contact Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)
Contact Blue Alpine Partners about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.