DoncasterSheffieldManchesterLincolnLondon

Investment - Office 31,733 SqFt Hull

Freehold £1,400,000 Offers Over

Norwich House, Savile Street, Hull, HU1 3ES

Key Features

  • Mult let office investment with asset management angles
  • Only one vacant office suite
  • Attractive capital value of £36 per sq ft
  • Net Initial Yiled of 13.46% and a re visionary yield of 20.27%

Description

Centrally Located in Hull City Centre investment with attractive views over Queens Garden.

Multi let office and retail building with office suites arranged overfour floors and three retail units on the ground floor totalling approximately 2,948 sm (31,733sq ft) with 6 car spaces.

Freehold.

Currently produces a rental income of £199,884 pa, including the Regus fit out rent and assuming 12 months guarantee on the vacant office suite, which will provide the opportunity for a reversion going forward.

Key tenants include: Regus, Scope and Newcross Healthcare Solutions.

Potential for Permitted Development Conversion to residential.

AWULT to expiry 6.09 years (4.9 years to the breaks).

Offers sought in excess of £1,400,000 (One Million, Four
Hundred Thousand Pounds) subject to contract and exclusive of VAT. This equates to a capital value of £36 per sq ft on the upper parts.

A purchase at this level would provide an initial yield of 13.46 % assuming purchasers costs of 6.05% and a revisionary yield of 20.27%

Comments

Viewings strictly by prior appointment with the joint agents: Jason Barnsdale MRICS Barnsdales - Chartered Surveyors Tel: 01302 308 174 jason@barnsdales.co.uk Tim Morgan MRICS HSM Tel: 020 7318 1933 tjm@hsmuk.com

Each party is to be responsible for their own legal costs incurred in this transaction.

Available on request.

EPC awaited or not required

Share

Map