- Seller ref: 4198
- Listing ID: 181519
Office For Sale Norwich House, Savile Street, Kingston upon Hull, HU1 3ES
- 31,733 sq ft
- For Sale
- 31,733 sq ft / 2,948 sq m
- Sale Type:
- For Sale
- Rental Income:
- Property Type:
- Development Opportunity:
- Investment Opportunity:
- Energy Rating:
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.
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%
* 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%