MapOffers in region of
£220,000 | 1,772 sq ftProperty for sale
Hessle Road, Hull, East Yorkshire, HU3 3DU
Property
1772
Features and description
- Boyle Sports held on a 10 year FRI lease via a service charge. Paying £9,000 per annum.
- Upper floors have been recently refurbished to provide 2 self-contained 1 bed flats.
- Located in a prominent position on Hessle Road.
- Once fully let will provide an income of £20,880 per annum, which provides a Net Initial Yield of 9.29% after purchase costs of 2.14%.
The property comprises a mixed-use investment arranged over ground and upper floors.
The ground floor commercial unit is let to BoyleSports, a privately owned, family-run bookmaker with expansion aspirations to operate over 200 betting shops across the UK. For the financial year ending December 2023, the company reported a turnover of £7,968,000 and an operating profit of £1,045,000.
The lease is held on a 10-year FRI lease (via service charge) commencing 29th April 2024, with tenant break options on the 3rd and 6th anniversaries and a rent review on the 5th anniversary.
The upper floors have recently been refurbished to provide two self-contained one-bedroom flats, each finished to a high standard and independently accessed and will provide an income once fully let of £11,880 per annum £495 PCM per flat.
The ground floor commercial unit is let to BoyleSports, a privately owned, family-run bookmaker with expansion aspirations to operate over 200 betting shops across the UK. For the financial year ending December 2023, the company reported a turnover of £7,968,000 and an operating profit of £1,045,000.
The lease is held on a 10-year FRI lease (via service charge) commencing 29th April 2024, with tenant break options on the 3rd and 6th anniversaries and a rent review on the 5th anniversary.
The upper floors have recently been refurbished to provide two self-contained one-bedroom flats, each finished to a high standard and independently accessed and will provide an income once fully let of £11,880 per annum £495 PCM per flat.
Property information from this agent
About this agent
We can guide you on every aspect of buying, selling, leasing and managing commercial property. From carrying out valuations, surveys and lease renewals, to giving you advice on investment and development opportunities. We’re well-connected in the local and surrounding areas. So we can take a broad view of the property market and give you the best advice on the sale and lease of commercial sites. Above all, we put you first. It’s our job to get the result you want, and we achieve this through hard work, years of experience and a well-rounded knowledge of the market. We are part of the Garness Group of property companies.