Hull, HU3 6NS | Investment Property for Sale | VES-HU3-001

Opportunity to purchase an 16-unit block in Hull generating £65,280 rent pa & gross yield of 5.4%

£1,200,000

16-unit Block

VES-HU3-001

INITIAL INVESTMENT

£353,500

Based on

deposit: £300,000

stamp duty: £36,000

mortgage fees: £1,500

conveyancing fees: £16,000

GROSS RENT

£65,280

GROSS YIELD

5.4%

ADD TO FAVOURITES

The block

TENURE

Leasehold

NO OF UNITS

16

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

3,992

PRICE SQ FT

£301

Block information

  • Spread over 2 floors (first to second floor)
  • The groundfloor comprises of 3 x retail units which are not included in the sale
  • The first and second floors comprise of:
    • 8 x studio bedrooms with ensuite shower rooms each
    • 1 x shared kitchen/dining area each
  • EPC rating B
  • Council tax band: tbc

Leasehold information

  • Service charge: NIL
  • Ground rent: peppercorn
  • Lenght of lease: 999 years
  • Year lease started: 2018
  • Years left on lease: 995 years (from 2022)
  • Ground rent review period: tbc

Rental income

  • At the time of listing 3 of the 16 bedrooms are vacant
  • Once fully let the following rents are expected to be achieved:
    • Aggregate rental income: £5,440 pcm
    • Aggregate rental income: £65,280 pa
    • Aggregate gross yield: 5.4%

Location information

  • The property is located in the Newington & Gysyville ward of Hull
  • Hull city centre is just over 1 mile from the property
  • There is a bus stop a short walk away with regular services taking around 10 minutes into town
  • Hull Paragon Interchange railway station can be reached in under 30-minutes' walk or by bus

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Hull, East Riding of Yorkshire

Kingston upon Hull is a port city in the county of East Riding of Yorkshire. This city lies on the River Hull at the point where it joins the Humber Estuary, 25 miles inland from the North Sea, 50 miles east of Leeds, 77 miles northeast of Sheffield and 154 miles north of London.

This city is serviced by Hull Paragon Interchange which is an integrated rail, bus and coach station in the centre of the city. Hull Paragon is managed by TransPennine Express and operates services predominantly on their North TransPennine route as well as several Northern routes and some services operated by Hull Trains and London North Eastern Railway. Hull Paragon acts as a terminus station for the majority of its services. TransPennine Express operates an hourly service to Manchester Piccadilly via Leeds and one train per day to Manchester Airport. Northern runs a route from Hull to Bridlington which operates every half hour, with some of these trains continuing on to Scarborough. Hull Trains operate a weekday service with seven trains per day to London’s King Cross. Bus services from this station run to a number of destinations within Hull, as well as to locations in the East Riding and north Lincolnshire. There are also distant bus services to locations such as Humberside International Airport, Scunthorpe, Grimsby and Leeds City bus station.

As Hull is the largest settlement in the East Riding of Yorkshire and serves as the major transport hub in the region, it has naturally become the focus of the retail district in the region. The city centre has three main shopping centres; St Stephen’s, Princes Quay and the Prospect Centre. The largest of these is the Princes Quay, which houses over 80 retail outlets over 4 floors and includes a 10-screen cinema and a food court. Major department stores such as Debenhams and House of Fraser can be found here as well as other high street favourites. Hull in rich in culture and so has many museums and galleries that are of national importance. The Museums Quarter is a development just off the High Street and includes the Wilberforce House, Hull Maritime Museum and the Ferens Art Gallery.

In recent years, due to the decline in fishing, the economic regeneration of the city has relied heavily on the manufacturing industry , the retail sector, tourism and further and higher education. The manufacturing industry in the city is focused on the chemical and health care sectors. Several well-known British companies such as BP, Smith & Nephew and Reckitt Benckiser all have facilities in Hull. The health care sector is further enhanced by the research centres at Hull University, provided by the Hull York Medical School partnerships and the Institute of Woundcare.

Hull has over 100 local schools and the highest achieving state school in town is Malet Lambert School, which educates children to the age of 11. For those looking for higher education there is Hymers College and Hull Collegiate School, both of which offer A-levels, NVQs and apprenticeships classes.

Anlaby Road,

Kingston upon Hull,

Hull,

Kingston upon Hull,

England,

HU3 6NS

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