Available
Hull – Corner Shop & Ground Rent
346 Hessle Road, Hull, North Humberside HU3 3SBFreehold Retail and Residential Ground Rent Investment
Price
£70,000
Rent P.A.
£7,305
Yield
10.44%
Tenure
Freehold
Lease Term
3 Years
Years Left on Lease
1y 11m
Area
840 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop and residential flat above (sold-off)
- Retail shop benefits from allocated area at front
- Nearby occupiers include Lloyds Bank, Quick Silver, William Hill, Greggs, Iceland, amongst other local traders
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor corner retail shop with front area and residential flat above (sold-off), providing the following accommodation and dimensions:
Ground Floor: 78.00 sq m (840 sq ft)
Open plan retail, storage, kitchenette, wc
First/Second Floor Flat: Sold-off
Ground Floor: 78.00 sq m (840 sq ft)
Open plan retail, storage, kitchenette, wc
First/Second Floor Flat: Sold-off
Tenancy Description
The shop is at present let to an Individual for a term of 5 years from 25th April 2025 at a current rent of £7,280* p.a. and the lease contains full repairing and insuring covenants. Rent review on 25.04.28 linked to RPI. No breaks. Deposit held of £1,690.
*Tenant pays reduced rent of £6,760 p.a. for Year 1. Vendor will top-up rent until 24.04.26 so the buyer receives the equivalent to £7,280 p.a. from completion.
The first and second floor residential flat is sold off on long lease for term of 125 years at a current ground rent of £25 p.a..
*Tenant pays reduced rent of £6,760 p.a. for Year 1. Vendor will top-up rent until 24.04.26 so the buyer receives the equivalent to £7,280 p.a. from completion.
The first and second floor residential flat is sold off on long lease for term of 125 years at a current ground rent of £25 p.a..
Tenancies & Accommodation
Location Description
Hull has a population of 243,589 and lies on the northern bank of the Humber Estuary about 55 miles east of Leeds. Hull is linked to the national motorway network via the M62 Trans-Pennine motorway and also by the M180 motorway via the Humber Bridge. The property has a frontage to Hessle Road.
