Buckingham Street 700 SF Retail Building Hull HU8 8TS $196,203 CAD ($280.29 CAD/SF) 11.43% Cap Rate

Investment Consideration:
Gross Initial Yield: 10.53%
Rental Income: £12,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor takeaway shop with ancillary accommodation above
Most of the equipment belongs to landlord. Benefits from gas boiler heating and EPC rating B
Situated in predominantly residential area with occupiers nearby including Nisa Local and Barber shop
Property Description:
Comprises mid-terrace ground floor takeaway with ancillary accommodation at first floor. The property benefits from rear yard and provided the following accommodation and dimensions:
Ground Floor: Counter, kitchen, storage, wc and shower
First Floor: 2 rooms
Total area size: 65 sq m (700 sq ft)
Tenancy:
The property is at present let to an Individual for a term of 5 years from 21st March 2025 at a current rent of £12,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 21.03.28 open market upward only. Tenant option to determine on 21.03.28 with min 3 months notice. Deposit held of £1,734. Tenant pays reduced rent of £10,404 p.a. for the first year. The vendor will top up rent until 21.03.26 so the buyer receives the equivalent to £12,000 p.a. from completion
Location:
The property is situated in predominantly residential area within 1.5 miles from Hull City Centre, with occupiers nearby including Nisa Local and Barber Shop.