Hessle Road, Hull, East Yorkshire, HU3 3DU
For Sale £220,000 (Offers in the region of)
- Size: 1,772 sq.ft. / 1,772 sq.ft.
- Property Ref: 1283
- Type: Commercial Investment
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.
Property features
- 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%.
