Buckingham Street 700 sq ft Retail Property Hull HU8 8TS £105,000 (£150/sq ft) 11.43% Net Initial Yield

Investment Consideration:
Gross Initial Yield: 11.43%.
Rental Income: £12,000 p.a.
VAT is NOT applicable to this property
Let until February 2033. No breaks. Rent review in 2028 and 2031.
Comprises ground floor takeaway shop with ancillary accommodation above
Most of the equipment belongs to landlord. Benefits from gas boiler heating and EPC rating B
Situated in predominantly residential area with occupiers nearby including Nisa Local and Barber shop
Property Description:
Comprises mid-terrace ground floor takeaway with ancillary accommodation at first floor. The property benefits from rear yard and provided the following accommodation and dimensions:
Ground Floor: Counter, kitchen, storage, wc and shower
First Floor: 2 rooms
Total area size: 65 sq m (700 sq ft)
Tenancy:
The property is at present let to an Individual for a term of 6 Years 11 Months from 10th March 2026 at a current rent of £12,000* p.a. and the lease contains full repairing and insuring covenants. Rent review on 10.07.28 and every 3rd anniversary from this date open market upward only. No breaks. Deposit held of £2,000. Lease inside 1954 Landlord & Tenant Act.
*Tenant pays reduced rent of £10,404 p.a. for the first year. The vendor will top up rent until 10.03.27 so the buyer receives the equivalent to £12,000 p.a. from sale completion.
Location:
The property is situated in predominantly residential area within 1.5 miles from Hull City Centre, with occupiers nearby including Nisa Local and Barber Shop.