Sold, 3 Bed  

Holderness Road, Hull

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Features

  • Mixed use property
  • Ground floor let at £400 pcm (£4,800 per annum)
  • Vacant three bedroom flat to the upper floors
  • Potential gross yield of 15.69%
  • Potential total income of £10,200 per annum
  • Gas central heating
  • High street location
  • Freehold

Quick Details

3 Bedrooms

Address

428 Holderness RoadHullEast YorkshireHU9 3DW
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Property Details

•Guide Price: £65,000+
•Freehold mixed use retail and residential investment
•Vacant: Potential income of £10,200 per annum
•Potential yield of 15.69%, based on the guide price
•Part income producing

Comprising a mixed-use terrace, this property is currently trading as a takeaway shop to the ground floor, and to the upper floors there is a three bedroom self-contained flat. The ground floor shop and the flats are entered by way of separate entrance to the front of the property.

The ground floor comprises tiled walls and tile effect flooring. There is a fitted marble effect unit with bar stools to the immediate right. The kitchen is separated by a counter and includes stainless steel surfaces, tiled walls and tile effect flooring.

This mixed-use property is located on Holderness Road, Hull. On a busy High Street location, the surrounding area comprises many local amenities, ranging from takeaway restaurants to an Iceland and Halifax bank, all benefiting from good passing footfall.

The property is just two miles northeast of Hull city centre and approximately three miles away from Hull railway station, which can be easily accessed via the A165.

Hull is a city in East Yorkshire, which benefits from good nearby road networks; including the A63 and M63 Motorway. There are also a range of transportation facilities available, providing regular access across the city. Hull is situated approximately 60 miles east of Leeds, 65 miles north east of Sheffield and 95 miles north east of Manchester.

Description Continued

The upper floors comprise a three-bedroom self-contained flat entailing a kitchen with a range of base and eye level units with wood effect surfaces, stainless steel sink and space for appliances. The lounge area is carpeted with a fitted fireplace. The bathroom includes toilet, sink and shower cubical.

To the rear, there is a spacious yard area with a wooden shed for additional storage space.

Accommodation

Ground Floor: 55 sq m / 592 sq ft (Approx. net internal area) - Taken from the VOA website
First and Second Floor: 98 sq m / 1054 sq ft (Approx. gross internal area) - Taken from the EPC

Services

We understand the property has mains gas, electricity, water and drainage. However, interested parties should make their own enquiries.

Guide Price

£65,000+

Buyer’s Premium

2% (min. £3,600) inc. VAT

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Investment Analysis:

The ground floor is currently tenanted at £400 pcm (£4,800 per annum). The flat above is vacant; however, we envisage it could let at £450 pcm which gives a total annual income of £10,200. This would represent a potential gross yield of 15.69%, based on the guide price.

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