Brook Chambers, Ferensway, Hull HU2 8LH
Asking Price
£2,100,000
Current rent
£16,445
Managed By Ultralets
Tenanted
Ready To Let
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Brook Chambers, Ferensway, Hull HU2 8LH
City Centre Residential Investment: 22 Flats with 136-Year Head Lease
Guide price £2,100,000 - £2,200,000
Property Brief
This building on Ferensway is a city centre block consisting of 22 residential flats, all of which are currently under the professional management of Ultralets.
Located in central Hull, opposite Paragon train and bus station, the building is positioned in a desirable rental area with a wealth of nearby amenities.
Ownership Structure
The property is held via a 150-year head lease from Hull City Council, which commenced on 24th June 2012 (approximately 136 years unexpired) at a peppercorn ground rent.
A back-to-back lease is in place for the ground-floor commercial space, which has been leased back to the Council. Consequently, the ground floor remains the sole responsibility of the Council. The head lessee is responsible for arranging buildings insurance for the entire premises, with the Council contributing a pro-rata reimbursement based on floor area.
This sale concerns the leasehold interest in the upper floors only, offering a streamlined management structure with no commercial tenant management required for the ground floor.
Compliance
All units within the building are fully compliant with relevant gas/electric certificates and valid EPCs for each. There is no mains gas to the commercial or residential buildings.
Rental Information
| Apartment | Beds | Current Rent | Market rent | Status | EPC | GSC | EICR |
| 1 | 2 | £950.00 | £950.00 | Tenanted | C | N/A | Yes |
| 2 | 2 | £900.00 | £900.00 | Tenanted | C | N/A | Yes |
| 3 | 1 | £625.00 | £750.00 | Tenanted | C | N/A | Yes |
| 4 | 2 | £800.00 | £825.00 | Vacant | C | N/A | Yes |
| 5 | 1 | £625.00 | £750.00 | Tenanted | C | N/A | Yes |
| 6 | 1 | £725.00 | £750.00 | Tenanted | C | N/A | Yes |
| 7 | 2 | £850.00 | £850.00 | Tenanted | C | N/A | Yes |
| 8 | 1 | £800.00 | £800.00 | Vacant | C | N/A | Yes |
| 9 | 1 | £625.00 | £750.00 | Tenanted | C | N/A | Yes |
| 10 | 2 | £750.00 | £750.00 | Vacant | C | N/A | Yes |
| 11 | 1 | £550.00 | £750.00 | Tenanted | C | N/A | Yes |
| 12 | 1 | £750.00 | £750.00 | Tenanted | C | N/A | Yes |
| 14 | 2 | £900.00 | £900.00 | Tenanted | C | N/A | Yes |
| 15 | 1 | £700.00 | £750.00 | Tenanted | C | N/A | Yes |
| 16 | 1 | £800.00 | £850.00 | Tenanted | C | N/A | Yes |
| 17 | 1 | £675.00 | £750.00 | Tenanted | B | N/A | Yes |
| 18 | 2 | £750.00 | £825.00 | Tenanted | C | N/A | Yes |
| 19 | 1 | £795.00 | £825.00 | Tenanted | E | N/A | Yes |
| 20 | 1 | £800.00 | £800.00 | Tenanted | D | N/A | Yes |
| 21 | 1 | £850.00 | £850.00 | Vacant | D | N/A | Yes |
| 22 | 1 | £550.00 | £750.00 | Tenanted | D | N/A | Yes |
| 23 | 1 | £675.00 | £750.00 | Vacant | C | N/A | Yes |
Current rent: £16,445 pcm
Market rent: £17,550 pcm
Buyer Disclaimer - https://bit.ly/3CzncNu
(Floorplans, EPCs and all other compliance. docs available upon request)
Key Features
Managed By Ultralets
Tenanted
Ready To Let
Apartment
29 Bedrooms
22 Bathrooms
Potential to add value
Leasehold
Location and area
Energy Performance Certificate
See below the energy charts for this property
