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404 Hessle Road, Hull HU3 3SD

1,629 Sq.Ft. (151.40 Sq.M)
For Sale

Key Features

  • Mixed-use investment opportunity situated along Hessle Road.
  • Ground floor retail unit finished to a high standard ready for immediate occupation.
  • Large 3-bed maisonette above currently producing £5,700 per annum, potential to increase to £6,300-£6,600 per annum.
  • Potential to achieve once fully let in the region of £12,700-£14,850 per annum.
  • Of interest to business owner occupiers with the benefit of income from maisonette.
  • Detached garage at the rear, potential to sell seperately.
  • Freehold subject to existing tenancy at a guide price of £155,000. Net initial yield of 9.23% assuming purchaser’s costs of 3.8%.

The property comprises of a ground floor retail Details of the EPC are available upon premises that has until recently been occupied and finished to a high standard throughout and is ready for immediate occupation. The ground floor provides ancillary storage accommodation towards the rear including a kitchen area and rear W/c.

The first and second floors provide a self-contained three bedroom maisonette benefitting from large bedrooms and a living room with a family bathroom and kitchen located towards the rear. The maisonette has future redevelopment potential to provide two separate flats which could see an increase in the overall income and future capital value of the entire property.

Outside, the property has outdoor space to enjoy as a rear garden area as well as a detached garage which has the potential to be sold off separately due to its unique position behind neighbouring property.

The ground floor retail unit once let could achieve a rental figure in the region of £8,250 per annum and the maisonette has the potential to increase the annual rent to £6,300-£6,600 which could provide a combined income of £14,850 per annum based on the higher figures outlined above. This opportunity will appeal to a private investor seeking to start or grow their existing property portfolio with the benefit of future redevelopment potential.

The freehold interest subject to the existing tenancy is available at a guide price of £155,000. A purchase at this level will provide a net initial yield of 9.22% assuming acquisition costs of 3.8% based on the higher total income figure as detailed above. The ground floor retail unit is also available to let with terms available upon application.

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 534668 or by emailing jonathan@barkerproperty.uk

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