Maritime House, Hull HU1 2DB
Asking Price
£450,000
Current rent
£16,600
Vacant
Full Refurb
Contact Liam to discuss further
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Maritime House, Hull HU1 2DB
Commercial Offices with Planning for 20 Apartments
Guide price £450,000 - £500,000
Property Brief
We are pleased to offer Maritime House to our investment portal, a vacant freehold commercial property boasting an internal footprint of circa 833 sqm on 0.4 acres of land. The prominent two-storey detached office building is conveniently located in close proximity to Hull's old town, Humber Street, Hull Marina and Kingston Retail Park.
Opportunity
On 1st September 2023, Hull City Council approved planning for the "Conversion of and extensions to the existing building to form 20 apartments and a ground floor management office", of which 15 car parking spaces were also permitted under the approval. Internal footprint would increase 1,710 sqm. Below is a schedule of the building's proposed layout as per planning:
1 x Management office (84 sqm)
4 x One-bed apartments (between 54 sqm and 70 sqm)
12 x Two-bed apartments (between 71 sqm and 95 sqm - includes one duplex)
4 x Three-bed apartments (between 88 sqm and 109 sqm)
https://www.hullcc.gov.uk/
Estimated Market Rents
One-bed apt. - £750 pcm
Two-bed apt. - £800 pcm
Two-bed duplex apt. - £825 pcm
Three-bed apt. - £900 pcm
Parking spaces - £25 pcm
Total - £16,600 pcm
Compliance
Non-domestic EPC rating: F (131)
Rateable value: £23,750 effective 1st April 2023
VAT: Property not elected for VAT
Please note that a buyer's fee of 1.5% + VAT is payable to Ultralets for securing the property off-market. 25% payble upon offer acceptance, the remaining 75% payable upon completion.
Key Features
Vacant
Full Refurb
Commercial
40 Bedrooms
20 Bathrooms
Freehold
Potential to add value
Gas Central Heating
Location and area
Energy Performance Certificate
See below the energy charts for this property
Floor Plan
