Hotel / Restaurant
- Purchase price : £1.05m
- Ground floor rented to a restaurant on a 10-year lease paying £45k per annum
- Hotel above on a 5-year lease paying £76k per annum
- Minimal management time and cost
- City centre location
- Yield = 11.52%
Why Invest In Hull?
From an investment perspective property in Hull is still relatively cheap compared to the rest of the UK, with prices anticipated to rise significantly over the next 5-10 years. Double digit rental yields are still achievable, and prices have increased 19.38% in the last 5 years as recorded by Zoopla.
Hull was awarded The UK City of culture title in 2017 and has gone from strength to strength since then. Currently more than 320,000 people live in Hull and its population is rising alongside its economic success as more professionals, families, students, artists, and entrepreneurs choose Hull as a place to live, work, create and invest. Inward investors like Siemens, Smith & Nephew and Reckitt Benckiser have chosen Hull as a base because of its skilled workforce and the thriving economy.
In 2018, Hull was named the third-most improved UK city as a place to live and work by the Demos-PwC Good Growth for Cities Index 2018, which ranks cities on a combination of economic performance and quality of life. Hull ranked 3rd, behind only Preston and Middlesbrough and ahead of cities such as Birmingham, Liverpool, and Manchester. The Silver Street Hotel / Restaurant has the perfect central location to benefit from the city’s future growth and development. The ground floor restaurant/bar is the one of the nicest places to eat in the city and benefits from the hotel customers above. Both tenants are on a long full repairing commercial lease offering very little management time and expenditure for the freeholder.