5 × 1-bed flat · HU1 3QA
For saleReduced £100k (−5.6%) on 21 JunListed 466 days
Opportunity summary
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About
Prime City Centre Investment – 19 Self-Contained Flats Gross Income: £145,800 p.a.
(bills inclusive) Yield 8.1% Leasehold A rare opportunity to acquire a striking period property comprising 19 fully self-contained residential flats in the centre of Hull.
Formerly a cinema, this attractive mid-terrace building has been converted across three upper floors to provide 14 studio apartments and 5 one-bedroom flats, fully let on inclusive rents and generating a strong gross annual income of £145,800.
Located just south of the main retail core and moments from St Stephen’s Shopping Centre and Hull Paragon Interchange, the property is ideally placed for both professional and student tenants.
The ground floor retail unit (Heron Foods) is excluded from the sale and forms part of a separate title.
Investment Highlights: Potential to increase the annual rent to be £157,000 (Yield 8.72%) 19 self-contained apartments (14 studios, 5 one-beds) Well-maintained four-storey building in excellent central location Planning permission previously granted for conversion Measurements and layout in accordance with RICS Code of Measuring Practice Floor plans and photographs available for marketing use Freehold / Long Leasehold (peppercorn ground rent – to be confirmed) Location: Hull is the fourth-largest city in Yorkshire and the Humber, with a population of over 260,000.
It sits approximately 50 miles east of Leeds, 35 miles south-east of York, and 55 miles north-east of Sheffield, making it strategically located and highly accessible.
Accommodation Summary (gia): Studios: Approx. 16.5 – 41 sqm 1-Bed Flats: Approx. 39.7 – 58 sqm Full floor plans, images, and annotated valuation documents available on request.
A strong-yielding residential block in the heart of a thriving northern city – ideal for investors seeking long-term rental income with minimal voids.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About 84-86, Paragon Street, Hull
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