Guide price
£1,415,000
(£138.66/sq. ft)
Industrial for saleCentral Orbital Trading Park, Waverley Street, Hull HU1
10,205 sq. ft
About this property
Opportunity to acquire a single let self-contained industrial warehouse
A freehold warehouse extending to 10,201 sq ft on a site of 1.02 acres
Low site cover of 20%
Let to Quickline Communication Limited on a fr&I lease expiring on 9 March 2033
The rent totals £105,000 per annum
The tenant has an Experian score of 95/100 and Very Low Risk
Located in one of the most restricted under supplied ind. Markets in the UK
Location
The property is 700 metres west of Hull city centre and 30 metres south of the A63 Hessle Road, the city’s main westbound arterial route. Access is shared via a spur road off Hessle Road for westbound traffic, recently extended to connect to Lister Street at the rear. It is within easy access of the Port of Hull, Hull City Centre and the A63/M62 via A1165. There is a significant residential population within close proximity to the property.
Located in an established light industrial area, neighbouring occupiers include Armstrong Hydraulics, Wilkinson’s Embroidery, Seasider Seafoods, and Paintwork Express. To the east lies Kingston Retail Park, home to tenants such as Home Bargains, Hobbycraft, B&M Store, Boots, Mamas & Papas, and Costa. Hull Ice Areana and Odeon Luxe are close by.
Description
Steel portal frame industrial unit built in the 1990s / Large L-shaped site, primarily concrete surfaced / Secured with perimeter fencing / Full-height metal cladding with insulated pitched metal profile roof / 6 metres internal eaves height / Seven overhead roller shutter doors / UPVC-framed, double-glazed windows for ground and mezzanine office levels / Concrete-surfaced open storage compound, secured by fencing
Area
We have been provided with the following net internal area. The property was measured in accordance with the RICS Code of Measuring Practice 6th Edition.
Area Size (sq m) Size (sq ft)
Ground Floor
Main Workshop 707.65 7,617
Offices 120.22 1,294
Mezzanine Offices 120.22 1,294
total gia 948.09 10,205
Site Area 1.02 acres Very low site cover of 20%
The unit was opened in 2023 as a training centre, stores and test laboratory.
Covenant
Quickline Communications Limited was founded in 2008 with the mission to deliver high-speed broadband to underserved rural areas across the UK. Over the years, the company has earned a strong reputation for its innovative hybrid network solutions, combining fixed wireless access and full-fibre technologies to provide reliable connectivity to communities often overlooked by traditional providers.
Backed by Northleaf Capital Partners, the benefitsfrom a £500 million investment aimed at expanding its network to connect over 500,000 rural premises in the North of England. This substantial backing has also facilitated job creation and supported regional development initiatives. Quickline’s achievements have been recognized with industry accolades, including winning the Internet Service Providers Association (ispa) Award for Best Rural isp in 2021. These awards underscore Quickline’s commitment to excellence and its leading position in the rural broadband market.
Turnover 31 Dec 2024: £3,861,000 / 31 Dec 2023: £2,992,000 / 31 Dec 2022: £2,827,000
Pre-TaxProfit 31 Dec 2024: -£37,960,000 / 31 Dec 2023: -£31,981,000 / 31 Dec 2022: -£14,693,000
Net Worth 31 Dec 2024: £58,662,000 / 31 Dec 2023: -£48,693,000 / 31 Dec 2022: -£16,568,000
Tenancy
There are two co terminus leases for both the industrial unit/yard and the additional car park land. The Fri lease let to Quickline Communications Limited expires on 9 March 2033 with a tenant break option (6 months notice) on 10 March 2028. The initial rent totals £105,000 per annum, split £80,000 per annum or the industrial unit/yard and £25,000 per annum for the car park land.
Tenure
Freehold. The vendor will retain a small parcel of land for totem signage at the entrance of the property. We are instructed to quote £1,415,000 (One Million Four Hundred and Fifteen Thousand Pounds) which reflects a Net Initial Yield of 7.00% after full purchasers’ costs.
Capital Allowances
The seller will retain all capital allowances.
VAT
The property is elected for VAT although it is anticipated that the sale will be structured as a Transfer of a Going Concern (togc).
EPC - D rating
The property is 700 metres west of Hull city centre and 30 metres south of the A63 Hessle Road, the city’s main westbound arterial route. Access is shared via a spur road off Hessle Road for westbound traffic, recently extended to connect to Lister Street at the rear. It is within easy access of the Port of Hull, Hull City Centre and the A63/M62 via A1165. There is a significant residential population within close proximity to the property.
Located in an established light industrial area, neighbouring occupiers include Armstrong Hydraulics, Wilkinson’s Embroidery, Seasider Seafoods, and Paintwork Express. To the east lies Kingston Retail Park, home to tenants such as Home Bargains, Hobbycraft, B&M Store, Boots, Mamas & Papas, and Costa. Hull Ice Areana and Odeon Luxe are close by.
Description
Steel portal frame industrial unit built in the 1990s / Large L-shaped site, primarily concrete surfaced / Secured with perimeter fencing / Full-height metal cladding with insulated pitched metal profile roof / 6 metres internal eaves height / Seven overhead roller shutter doors / UPVC-framed, double-glazed windows for ground and mezzanine office levels / Concrete-surfaced open storage compound, secured by fencing
Area
We have been provided with the following net internal area. The property was measured in accordance with the RICS Code of Measuring Practice 6th Edition.
Area Size (sq m) Size (sq ft)
Ground Floor
Main Workshop 707.65 7,617
Offices 120.22 1,294
Mezzanine Offices 120.22 1,294
total gia 948.09 10,205
Site Area 1.02 acres Very low site cover of 20%
The unit was opened in 2023 as a training centre, stores and test laboratory.
Covenant
Quickline Communications Limited was founded in 2008 with the mission to deliver high-speed broadband to underserved rural areas across the UK. Over the years, the company has earned a strong reputation for its innovative hybrid network solutions, combining fixed wireless access and full-fibre technologies to provide reliable connectivity to communities often overlooked by traditional providers.
Backed by Northleaf Capital Partners, the benefitsfrom a £500 million investment aimed at expanding its network to connect over 500,000 rural premises in the North of England. This substantial backing has also facilitated job creation and supported regional development initiatives. Quickline’s achievements have been recognized with industry accolades, including winning the Internet Service Providers Association (ispa) Award for Best Rural isp in 2021. These awards underscore Quickline’s commitment to excellence and its leading position in the rural broadband market.
Turnover 31 Dec 2024: £3,861,000 / 31 Dec 2023: £2,992,000 / 31 Dec 2022: £2,827,000
Pre-TaxProfit 31 Dec 2024: -£37,960,000 / 31 Dec 2023: -£31,981,000 / 31 Dec 2022: -£14,693,000
Net Worth 31 Dec 2024: £58,662,000 / 31 Dec 2023: -£48,693,000 / 31 Dec 2022: -£16,568,000
Tenancy
There are two co terminus leases for both the industrial unit/yard and the additional car park land. The Fri lease let to Quickline Communications Limited expires on 9 March 2033 with a tenant break option (6 months notice) on 10 March 2028. The initial rent totals £105,000 per annum, split £80,000 per annum or the industrial unit/yard and £25,000 per annum for the car park land.
Tenure
Freehold. The vendor will retain a small parcel of land for totem signage at the entrance of the property. We are instructed to quote £1,415,000 (One Million Four Hundred and Fifteen Thousand Pounds) which reflects a Net Initial Yield of 7.00% after full purchasers’ costs.
Capital Allowances
The seller will retain all capital allowances.
VAT
The property is elected for VAT although it is anticipated that the sale will be structured as a Transfer of a Going Concern (togc).
EPC - D rating
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