News: Scotts secure another sale in ‘Gateway’ Hull City Centre location

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Scotts secure another sale in ‘Gateway’ Hull City Centre location

Posted: 21 September 2021

Scotts Property are pleased to announce the sale of 51 Myton Street Hull for an undisclosed sum to a family business that operates in the Hull area. The deal comes hot on the heels of the sales of the nearby Myton Retail Park and former ‘Heaven & Hell’ nightclub. Transactions of all three sites were handled by local commercial property experts Scotts Property LLP inside the last 12 months.

Located just a few dozen metres from one and other, the three sites are located at a ‘gateway’ to Hull city centre, immediately opposite the Bonus Arena, Hull’s flagship £36 million, 3,500 concert and events venue which opened in 2018. 51 Myton Street had been the home to local printing firm ‘Pilling Printers Limited’ for over 50 years.

The area stands to benefit from further development, in the shape of the £355m Castle Street road improvement scheme and a nearby planned new development, incorporating the refurbishment of Castle Street Chambers, the relocation of the Earl de Grey pub and the construction of a new 150-bed hotel.

Chartered Surveyor Nick Coultish said; “Having entered 51 Myton Street into an auction due to take place on 22nd September 2021 through joint auctioneer Pugh & Co, the property attracted strong interest from various parties wishing to acquire the property, which resulted in an sale being secured prior to the auction.”

“Myton Street is a gateway entrance to Hull City Centre, which has and continues to attract strong interest from local, regional and national investors."

The process of urban renewal in this location was kick-started by the development of the Bonus Arena, with the three subsequent transactions totalling over £3.5 million combined.

“The multi-million pound investments to acquire the sites will no doubt result in future investment in the immediate area, bringing jobs, footfall and sites back into everyday use.”

Following sale of the Anne Street/Osbourne Street development site in December 2020 by Scotts, the site has been cleared and is now re-offered to the market as a Prime City Centre Development Opportunity through joint agents Carrick Real Estate and BNP Paribas Real Estate.