Retail premises for sale in Hessle Road, Hull HU4

Guide price £260,000 (£167.85/sq. ft)
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Retail premises for sale From 1,549 - 3,168 sq. ft*
Tenure: Not available Council tax band: Not available

Property features

  • Two mixed-use properties held on separate titles.
  • Redevelopment potential on both
  • Total estimated income once fully let £34,440 per annum.
  • Both properties are available to be sold separately.
  • Offers invited in the region of £260,000 for both properties
  • Net initial yield of 13% upon the total estimated income

Property description

Barker Property Consultants are delighted to two mixed-use investment/redevelopment opportunities to the market. 727 and 729 Hessle Road provide three separate commercial units upon the ground floor with one unit currently tenanted and trading as a hair salon and has been in occupation at the property for over 20 years.

The upper floors provide two large self contained 2-bed flats which have the potential to be reconfigured into 3- bed flats. The first floor flat at 729 Hessle Road is currently tenanted and has been occupying for over five years. At the rear of 727 Hessle Road, there is ancillary space at the ground floor which is accessible via the first floor flat however this space could be transformed into a self contained studio having the benefit of rear access onto the yard area.

At the rear of 729 Hessle Road is a 1-bed flat currently vacant and is accessible via Devon Street. A further outbuilding is situated at the rear and is currently utilised for storage however this could be redeveloped into a self contained 1-bed subject to planning. The total estimated annual income once both properties are fully developed and let is £34,440 per annum exclusive.

Both 727 and 729 Hessle Road are an ideal opportunity for an investor/developer seeking to add to an existing portfolio and realise the full value and opportunity both properties present. Offers are invited in the region of £260,000 for both freehold interests and both properties are available to be purchased separately by negotiation. A purchase at this level would produce net initial yield of 13% assuming acquisition costs of 1.8% based upon the total estimated rental income once fully let.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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Barker Property Consultants, HU15 on +44 1482 535534 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Barker Property Consultants, and do not constitute property particulars. Please contact Barker Property Consultants 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.

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