Hotel / Restaurant
Purchase price : £1.05m
Groud floor rented to arestaurant 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%
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.