Freehold Investment / Development Opportunity
Grade II property forming part of an established retail parade near Queen Victoria Square
Total area c.131.4 sq m (1,415 sq ft)
Ground floor shop producing a rental income of £7,200 p.a. from an established tenant
Planning permission for redevelopment of the upper floors (1 x 2 bed flat above)
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.
Description
The property comprises a 3-storey traditional brick, mid terrace building 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 scope for residential conversion to self-contained living accommodation. The upper floors require full refurbishment.
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) |
Terms
The freehold interest, subject to the current occupation and part vacant possession is available For Sale at a guide price of £150,000.
Lease Details
The ground floor is held on an effective Full Repairing and Insuring commercial lease expiring January 2028 at a passing rent of £7,200 per annum exc. The tenant has been in occupation since April 2010.
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 100% small Business Rates Relief (subject to status).
ENERGY PERFORMANCE RATING: D (88)
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 will be 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 are attached. Interested parties are advised to make planning enquiries direct to the local authority.
Property Enquiry
Copyright © Scotts Property LLP, 2007 - 2026. All Rights Reserved.
Design & Build by eyeweb