Offered for sale complete with all fixtures, fittings and utensils, this is a "turnkey" business managed and serviced returning a gross 18% yield and an outstanding return on capital.
Currently let through on Airbnb at £29.00 per night, we are advised that similar rentals in Hull are between £35.00 and £45.00 per night, so there's possible scope for a significant increase of income. The currently net yield is 13.5% allowing for the building management costs and other property related expenses.
So what is it?
A first floor fully modernised 2 bedroomed apartment contemporary décor throughout and with ample car parking, 5 minute"s walk from the Hull Paragon train station and city centre, adjacent to Hull Royal Infirmary.
The property briefly comprises; an entrance hall, enclosed balcony, modern fitted kitchen with oven hob and fridge. Lounge with flat screen TV and WIFI. Two furnished double bedrooms with flat screen TVs, contemporary bathroom with overhead shower and 3 piece suite.
14 storey, 8 units per floor
Lease Term : 125 years from 3/04/89
Council Tax - £112.00 per month Band A
Hull CC quarterly service charge - £287.50
Hull CC yearly ground rent - £10.00
Hull CC Service charge; additional yearly charge £77.00 (April 2017 & March 2018)
Located to the western edge of the City Centre, benefiting from all of the advantages offered by such a central location. The Hull Royal Infirmary, Kingston Communications Stadium (Home of Hull City AFC and Hull FC) are also very close by. Good public transport links are on offer to the surrounding villages of Cottingham, Anlaby and Hessle and excellent road connections are available to all parts of the city with easy access to the M62 via the A63 dual carriageway.
The main lobby is secured with a card-key entry system. Once inside, 2 flights of stairs and 2 lifts provide access to each of the units on all floors.
The door to the apartment opens to a hallway with a walk-in storage cupboard and doors off to each of the rooms within. A wall mounted intercom provides remote access through the main doors on the ground floor.
16' 4'' x 11' 0'' (4.99m x 3.36m) The lounge is dual aspect with big windows to the south and the west creating a lovely bright space. A half-glazed uPVC door opens to an enclosed balcony area.
10' 5'' x 7' 1'' (3.2m x 2.17m) The kitchen is fitted to a high standard with cream base units and mounted cupboards contrasting with the dark woodgrain worktops. A stainless steel oven and hob is integrated with a matching extractor hood and there is accommodation beneath the surfaces for a fridge and a washing machine. Smart grey splash-back tiling surrounds the worktops with a light pastel shade to the walls above. A half-glazed door opens (to the south) to an enclosed balcony.
12' 8'' x 9' 10'' (3.87m x 3.01m) A double room with a walk-in wardobe and a uPVC double glazed escape window.
12' 7'' x 8' 10'' (3.86m x 2.71m) A further double room of a similar size to bedroom 1.
6' 3'' x 5' 6'' (1.92m x 1.7m) The fixtures are modern and newly fitted. The white bath has a elegant chrome mixer tap. A rectangular vanity basin is mounted on a smart drawer unit and low-level WC completes the suite. Stylish splashback tiling gives the room a sense of luxury.
For further information on this property please call 01482 475820 or e-mail [email protected]