A part-let investment opportunity, generating £7,200 pa gross income and benefiting from planning consent to convert the vacant upper floors to a two-bedroom apartment.
Description
Viewing Details
Strictly by appointment with the Auctioneers on 0845 400 9900 or the joint agents, Scotts on 01482 325634.
Location
The subject property is located on the east side of Savile Street close to King Edward Street and Queen Victoria Square within Hull city centre. Savile Street is home to a mix of independent retailers. The central position enables easy access to all city centre area amenities. The property is shown in red on the Goad plan.
Description
The property comprises a 3-storey mid-terrace building constructed in brick beneath a pitched slate roof incorporating a shuttered aluminium shop front with a recessed entrance. Internally, the property provides a regular-shaped ground-floor sales area, benefiting from laminate flooring and a suspended ceiling with integrated lighting. A separate ground-floor entrance provides access to the upper floors with planning and listed building consent for residential conversion to a self-contained two-bedroom flat. The upper floors require full refurbishment. The ground-floor shop unit is let and produces a gross rent of £7,200 pa.
Accommodation
Ground Floor 61.2 sq m (659 sq ft)
First Floor 33.7 sq m (363 sq ft)
Second Floor 36.5 sq m (393 sq ft)
Total area 131.4 sq m (1,415 sq ft)
Note
The ground floor is held on an effective Full Repairing and Insuring commercial lease, expiring in January 2028, at a passing rent of £7,200 per annum exc. The tenant has been in occupation since April 2010.
Note
Rateable Value
The premises are described as ‘shop and premises’ with a rateable value of £7,400 (2026 Rating List). Under current provisions, a small business may benefit from Small Business Rates Relief (subject to status).
Note
Joint Auctioneers
Scotts Commercial, 66 - 68 Humber Street, Hull, HU1 1TU - Mr Chris Mason. 01482 325634
Lot Type
Commercial Investments
Planning
The property is situated in the Old Town Conservation Area and is Grade II listed under the Historic England list entry no. 1219129. The property is sold with the benefit of planning consent for a change of use of upper floors to a 2 bedroom apartment. Full details can be obtained via the Hull City Council planning portal, reference (23/01654/FULL) and (23/01655/LBC). A copy of the decision notice and floor plans is included in the legal pack. Interested parties are advised to make planning enquiries directly to the local authority.
Important Notice to Prospective Buyers
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Buyers Premium
The purchaser will be required to pay a buyer’s premium of £1,200 (£1,000 + VAT) in addition to the purchase price of the property.
Administration Charge
The purchaser will be required to pay an administration charge of 0.3%, subject to a minimum of £1,200 (£1,000 plus VAT) in addition to the purchase price of the property.
Disbursements
Please refer to the legal pack for any disbursements listed that may become payable by the purchaser upon completion.
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- Unconditional (Immediate Exchange)
Call the team on 0845 400 9900 for more information
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