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UNDER OFFER
Freetown Court, Freetown Way/Russell Street, Hull, East Yorkshire, HU2 8JQ
For Sale £550,000 (Offers in the region of)
- Size: 4,495 sq.ft. / 4,495 sq.ft.
- Property Ref: 8456
- Type: Commercial Investment
The property comprises of a traditional brick 2 storey office under a pitched tiled concrete roof which benefits from 30 car parking spaces which equates to 1 space per 150 SqFt. Internally the building has been configured to provide 4 self-contained unit which benefit from Class E use with Suite 2 & 4 operating as a dental practice by Den-Call Limited, with Suite 1 on the ground floor consisting of an open plan office and Suite 3 on the second floor let on informal terms to Esteem which consists of predominantly open plan office with a separate managers office, board room and kitchen facilities.
The property has communal WC facilities on ground and first floor with the upper floors benefiting from a lift to serve the upper floor.
Property features
- Highly visible attractive investment opportunity within close proximity to Hull City Centre.
- Benefiting from 30 car parking spaces.
- Current income £42,000 per annum with a potential income, once fully let of £53,500 per annum.
- Provides a net initial yield of 7.30 % after purchase costs of 4.59%, which reflects a reversionary yield, once fully let of 9.30% after purchase costs of 4.59%.
