Marketed by
Garness Jones
Hull
11 Nelson St, Hull HU1
Available
1 of 6
Offers in the Region of
£220,000
314 Hessle Road, Hull, East Yorkshire, HU3 3DU
Key features
- Mixed use investment located on a prominent position on Hessle Road.
- 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. producing £11,880 per annum £495 PCM per flat
- The property is fully let with combined rental of £20,880 per annum, which provides a Net Initial Yield of 9.29% after purchase costs of 2.14%.
Description
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 producing £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 producing £11,880 per annum £495 PCM per flat.
Reference: 1283_sales
Marketed by
Garness Jones
Hull
11 Nelson St, Hull HU1
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