Under Offer
Hull – Tattoo Parlour & 2 Flats
2 Land of Green Ginger, Kingston-upon-Hull, East Yorkshire HU1 2EAFreehold Retail and Residential Investment
Price
£270,000
Rent P.A.
£21,200
Yield
7.85%
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
Holding Over
Area
2,429 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Attractive Grade II listed building located on historic town centre thoroughfare
- Comprises a three storey retail unit with two upper residential flats
- Situated just off the prime pedestrianised Whitefriargate
- One of Hull’s prime retail thoroughfares housing occupiers including Superdrug, HSBC, Boots and Greggs.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property, a Grade II listed building, comprises a ground floor retail unit with ancillary accommodation on first and second floors. In addition, there are two self-contained residential flats on upper floors.
Tenancy Description
The shop is at present let to an Individual t/a Horizon Tattoo Co for a term of 5 years from 1st August 2018 at a current rent of £8,000 per annum and the lease contains full repairing and insuring covenants. The lease provides the tenant option to determine on 01/08/2020 subject to 6 months’ notice. The first/second floor residential flat (No. 2C) is at present let on an AST to an individual for a term of 12 months from 1st July 2019 at a current rent of £6,300 per annum. Rent deposit held of £525. The first/second floor residential flat (No. 2D) is at present let on an AST to an individual for a term of 12 months from 2019 (Holding Over) at a current rent of £6,900 per annum. Rent deposit held of £575.
Tenancies & Accommodation
Location Description
The property is situated on the western side of Land of Green Ginger, a historic street off the pedestrianised Whitefriargate, one of Hull’s prime retail thoroughfares housing occupiers including Superdrug, HSBC, Boots and Greggs.