Offers in region of
£550,000
(£122.36/sq. ft)
Property for saleFreetown Court, Freetown Way/Russell Street, Hull, East Yorkshire HU2
4,495 sq. ft
About this property
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%.
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.
The property has communal WC facilities on ground and first floor with the upper floors benefiting from a lift to serve the upper floor.
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