Mixed-use investment opportunity situated on Chanterlands Avenue in Hull.
Three commercial units with two self- contained flats situated above.
Currently producing £23,900pa with potential to increase to £42,300pa.
Significant asset management potential.
Freehold subject to existing tenancies at a guide price of £415,000.
Reversionary yield potential of 9.82%.
The property is situated on Chanterlands Avenue approximately two miles west of Hull city centre. Chanterlands Avenue is a popular area of Hull known locally as “The Avenues” and features a vibrant mixture of retailers, leisure and Victorian houses.
The property comprises a mixed-use investment opportunity consisting of three retail units upon the ground floor and two self-contained flats situated upon the first floor.
The ground floor occupiers include a dance studio and beauty salon with a former art gallery that is due to become vacant and marketed to let. Each of the ground floor units are currently holding over and the first floor floor flats are each let on AST agreements. The total income across all units is approximately £23,900 per annum with significant potential to increase the total income to approximately £42,300per annum.
This opportunity will appeal to a private investor seeking to grow their existing or purchase a mixed-use property within Hull at an attractive yield.
The entire property is available freehold subject to the existing tenancies at an asking price of £415,000. A purchase at this level will provides a reversionary yield of 9.82% assuming acquisition costs of 3.8%. Viewings to be made strictly through us as sole selling agent.
For further information about this property listing you can download the brochure or contact Jonathan Barker on 07432 534 668 or by emailing jonathan@barkerproperty.uk
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