Offers in region of
£220,000
(£124.15/sq. ft)
Property for saleHessle Road, Hull, East Yorkshire HU3
1,772 sq. ft
About this property
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%.
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.
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