New Modern Residential Conversion – Hull

Hull

Starting prices from £77,000

• A modern city centre residential development in Hull
• Premium apartments aimed at discerning professionals
• 58 single bedroom apartments set on four storeys
• Energy efficient and spacious designs
• Ideally situated with key amenities just minutes away
• 10 year 8.5% gross option to all investors

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Property Overview

An exciting Northern investment opportunity.

Tivoli House is a stunning city centre residential development aimed at discerning professionals. This property stands as one of the most exciting property investments in the whole of the North of England.

Each of the 58 single bedroom apartments have been designed to appeal to the profitable professional market. The property brings modern and energy-efficient living to an area of massive inward investment.

Tivoli House is a complete modernisation on the site of a former theatre. It is conveniently located in the city centre with key amenities within walking distance, including Princes Quay, Hull Paragon Interchange and local shopping centres.

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Strong rental demand

Rental gross yields of 8.5%

Starting price of £77,000

Location Overview

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Hull at a Glance

Location:
Yorkshire and Humber, England

Population:
258,700 (2016)
365,900 (working age)
42% under 35 (national average: 34%)

Population Growth:
Estimated 10% by 2021

Economy:
£8 billion

Growth Rate In/ GVA:
43% ahead of UK average (2016)

Businesses:
10,000 approx. (rising steadily)

Key Employment Sectors

  • Construction
  • Digital and media
  • Education
  • Finance and business services
  • Food and drink
  • Healthcare / medical
  • Manufacturing
  • Port and logistics
  • Renewable energy
  • Retail & leisure (including)
  • Tourism

Logistics – Major Employers

  • ARCO – safety equipment
  • ABP Associated British Ports
  • Aunt Bessies
  • Crown Paints
  • Ideal Standard
  • Reckitt Benkiser
  • Sewell Group
  • Siemens
  • Spencer Group
  • TJ Smith & Nephew

Commercial Development Sites

  • Burma Drive, Marfleet
  • Hedon Road
  • iPark
  • Priory Park
  • Wyke Works

 

Key Facts

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Key Facts – The Development

  • A complete conversion in Hull city centre
  • Modern, energy efficient design
  • Now being converted by Empire Property Concepts
  • 58 single bedroom apartments to be created on four storeys
  • A high specification aimed at discerning tenants
  • Completion date Q3 2019

Key Facts – The Investment

  • Projected rental gross yields of 8.5%
  • Highly attractive pre-market prices
  • 250 year lease
  • Reserve with a payment of only 5%
  • Excellent capital appreciation potential
  • Massive demand for professional quality accommodation
  • Set in an area of fast-rising inward investment

Key Facts – Hull

  • Hull is a Northern Powerhouse city that’s on the rise
  • A flood of new investment is creating new jobs, particularly in fields demanding high skills
  • The city is a focal point for leading-edge healthcare research and hosts a wealth of well established food and drink manufacturers
  • Hull’s UK City of Culture status has brought the completion of acquisitions worth almost £10m in the city centre since latest 2016
  • The Port of Hull handles in excess 12 million tonnes of cargo and nearly one million passengers every year
  • More than £1 billion of investments are now underway

 

Development Overview

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Originally built as an office and retail development on the site of a former theatre, Tivoli House occupies a very convenient city centre location. Set on Paragon Street, it is within easy walking distance of all local amenities, together with The Paragon transport interchange mainline station, the newly regenerated Princes Quay and Hull’s famous marina.

This strategic central position makes it ideally situated for workers drawn in by a range of major regeneration projects currently taking place nearby. Named the UK City of Culture for 2017, Kingston upon Hull is witnessing huge investment in its economy and infrastructure, as well as a spectacular transformation of its tourism sector. This, together with the growth in its burgeoning digital industries and the city’s status as the UK capital of renewable energy, is all helping to create new jobs and sustain steady growth in demand for new, high quality accommodation.

To help meet this demand, ES1 proposed a major conversion project that would see Hull City Council’s former offices converted into highly marketable one-bedroom apartments. Aimed squarely at discerning, higher-paying professionals, the units would target one of the fastest growing residential markets in the city.

Local authority planners accepted the proposal in May 2018 and work began soon afterwards. It is scheduled for completion in Q3 of 2019.

Key Features

  • 58 single bedroom properties
  • Appealing to the profitable professional market
  • Designed for modern, energy-efficient living
  • Strong rental demand
  • A convenient central location
  • Set in an area of massive inward investment
  • Benefiting from ‘UK City of Culture’ status
  • Demand set to rise further in the coming years

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