House For Sale £255,000
Investment Opportunity on Spring Bank, Hull
The property comprises a retail shop on the ground floor currently under refurbishment and HMO accommodation on the ground, first and second floor.
Ground Floor
Retail shop wiith separate entrace
Entrance to the residential accommodation
Living/Dining Room
Kitchen Diner
First Floor
Bedroom 1
Bedroom 2
Bedroom 3
Bathroom with sink and bath
Toilet with shower
Second Floor
Bedroom 4
Bedroom 5
The current rent per week with bills inclusive is £335 for a total of £17,420 current gross rent per year
When the property is fully let, the rent per week is £455 for a total of £23,660 gross rent per year
The shop is let on a 10 year lease at £450 a month, tenancy started 1st May 2022, for a total of £5,400 net per year.
Schedule of rent for the HMO Accommodation at the time of listing:
Room 1 £90
Room 2 £95
Room 3 empty, rent requested £120
Room 4 £80
Room 5 £70
The total current income is £22,820 with a yield of 8.94%
When the property is fully let the income is £30,100, with a yield of 11.39% per year
Current rateable value £3,150 (Shop and premises)
EPC rating for residential premises: Current 57 potential 82
EPC for shop premises: Energy Rating C
Further information:
Council tax band - B
Tenure - Freehold
The property comprises a retail shop on the ground floor currently under refurbishment and HMO accommodation on the ground, first and second floor.
Ground Floor
Retail shop wiith separate entrace
Entrance to the residential accommodation
Living/Dining Room
Kitchen Diner
First Floor
Bedroom 1
Bedroom 2
Bedroom 3
Bathroom with sink and bath
Toilet with shower
Second Floor
Bedroom 4
Bedroom 5
The current rent per week with bills inclusive is £335 for a total of £17,420 current gross rent per year
When the property is fully let, the rent per week is £455 for a total of £23,660 gross rent per year
The shop is let on a 10 year lease at £450 a month, tenancy started 1st May 2022, for a total of £5,400 net per year.
Schedule of rent for the HMO Accommodation at the time of listing:
Room 1 £90
Room 2 £95
Room 3 empty, rent requested £120
Room 4 £80
Room 5 £70
The total current income is £22,820 with a yield of 8.94%
When the property is fully let the income is £30,100, with a yield of 11.39% per year
Current rateable value £3,150 (Shop and premises)
EPC rating for residential premises: Current 57 potential 82
EPC for shop premises: Energy Rating C
Further information:
Council tax band - B
Tenure - Freehold
