85 Paragon Street, Hull, East Riding Of Yorkshire, HU1

Investment Consideration:
Gross Initial Yield: 10.88%
Rental Income: £17,400 p.a.
VAT is NOT applicable to this property
Comprises ground floor public house with 2-bedroom flat at first/second floor
Situated within 1 min walk from Hull Train Station with nearby occupiers include Merkur Slots (adjacent), William Hill, KFC, Domino`s Pizza and many more.

Property Description:
The property comprises traditional public house with ground floor providing open bar, newly fitted with traditional finishes. Customer WCs are situated to the rear. Internal stairs lead to the upper floor accommodation providing lounge, kitchen and bathroom at first floor with 2 bedrooms at second floor.
Ground Floor: 61 sq m (656 sq ft)
Open plan bar, WCs, First Floor: 49 sq m (527 sq ft)
Living Room, kitchen and bathroom
Second Floor: 23 sq m (248 sq ft)
Two double bedrooms
Cellar: 38 sq m (409 sq ft)
Total area size: 171 sq m (1,840 sq ft)

Tenancy:
The property is at present let to an Individual for a term of 6 Years 11 Months from 17th May 2024 at a current rent of £17,400* p.a. Rent review every 3rd year open market upward only. No breaks. Deposit held of £3,000.
*Tenant pays reduced rent of £15,340 p.a. for Year 1. Vendor will top-up rent so the buyer receives the equivalent to £17,400 p.a. from completion.

Location:
The property is situated in the heart of Hull city centre within 1 min walk from Hull Train Station and 3 min walk from Hull Waterside & Marina. Nearby occupiers include Merkur Slots (adjacent), William Hill, KFC, Domino`s Pizza and many more.