Mixed-use investment opportunity situated off Little Reed Street and fronting Freetown Way.
11 units providing total income £61,200 per annum.
Three commercial units producing £19,800 per annum. Seven 1-bed flats and one 2-bed flat producing £41,400 per annum.
Freehold subject to existing tenancies at a guide price of £700,000. Net initial yield of 8.42% assuming purchaser’s costs of 3.8%.
The property is located between Little Reed Street and Charles Street within Hull city centre and fronts Freetown Way which is one of Hull’s main arterial routes through the city. The surrounding area comprises of both residential and retail/office uses and is within short walking distance of Hull’s amenities.
Villandro House comprises of three ground floor commercial units that are fully let and a further eight self- contained residential flats situated upon the ground, first and second floors also fully let and income producing.
The entire property which is held under four freehold titles, presents a mixed-use investment opportunity with a total combined income approximately £61,200 per annum within Hull city centre.
The ground floor units comprise of an aesthetics clinic, gym and recruitment agency with each unit suitably modernised for each purpose. The flats each contain well presented kitchen, bathrooms and living space.
This opportunity will appeal to a private investor seeking to grow their existing or purchase a mixed-use property portfolio within the city centre.
The freehold interest subject to the existing tenancies is available at a guide price of £700,000. A purchase at this level will provide an overall net initial yield of 8.42% assuming acquisition costs of 3.8%. Viewings to be made strictly through us as sole selling agent. Each party will be responsible for their own legal costs in connection with this transaction.
For further information about this property listing you can download the brochure or contact Jonathan Barker on 07432 534 668 or by emailing jonathan@barkerproperty.uk
Speak with a member of our expert team today about your commercial property requirements.
After an initial consultation, we create a tailor-made plan designed to work on achieving the best possible outcome for you.
Whichever service(s) you require, we work hard on your bespoke plan ensuring the highest level of professionalism throughout and to deliver successful results for you.
