Marketed by
Garness Jones
Hull
11 Nelson St, Hull HU1
Available
1 of 4
Offers in the Region of
£135,000
8 King Street, Hull, East Riding Of Yorkshire, HU1 2JJ
Key features
- Ground floor office held on a 999 year long leasehold.
- Located directly opposite Hull Minster.
- Held on a lease to Yorkshire Mesmac Limited until 31st March 2031, at a passing rent of £12,500 per annum.
- Within walking distance of Hull Marina and all city centre amenities.
- Provides a Net Initial Yield of 9.12% after purchase costs of 1.5%.
Description
The unit forms part of an attractive Merchant Warehouse development with residential accommodation situated above.
The premises comprise of a self-contained ground floor office, which is held on a 999 year long leasehold at a Peppercorn ground rent effectively providing a virtual freehold interest.
The premises are currently let to Yorkshire Mesmac Limited, with the lease expiring on 31st March 2031. The tenant has an option to break on the 31st March 2029 and 31st March 2030, with a rent review on the 30th April 2028, with a passing rent of £12,500 per annum.
The premises comprise of a self-contained ground floor office, which is held on a 999 year long leasehold at a Peppercorn ground rent effectively providing a virtual freehold interest.
The premises are currently let to Yorkshire Mesmac Limited, with the lease expiring on 31st March 2031. The tenant has an option to break on the 31st March 2029 and 31st March 2030, with a rent review on the 30th April 2028, with a passing rent of £12,500 per annum.
Reference: 9916_sales
Marketed by
Garness Jones
Hull
11 Nelson St, Hull HU1
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