8 bed block of flats for sale

Coltman Street, Hull HU3

Exceptional freehold investment opportunity comprising five self-contained flats with an established rental income, long-standing tenants, potential to increase returns, and A generous rear plot offering future development possibilities subject to planning.

A fantastic opportunity to acquire a freehold block of five self-contained flats on Coltman Street, Hull, offering an established rental income of £29,700 per annum and excellent long-term investment potential.

The property comprises two 2-bedroom flats, two 1-bedroom flats, and one 3-bedroom flat, all individually metered for gas and electricity and benefiting from secure intercom entry systems. Four of the five tenants have occupied their properties for over five years, providing a stable and reliable income stream, while the fifth flat was let this year with a guarantor in place. Several of the current rents are considered to be below market value, offering scope for future rental growth.

The building has been well maintained and improved in recent years. Upgrades include replacement double-glazed sash windows to the front elevation (installed with planning consent), new felt roofs to the bay and entrance canopy, new timber guttering, and repainting of the fascia and dormer using Sandtex 10-year guarantee paint. Three of the flats have benefited from replacement gas boilers, including one installed this year. All flats received updated EICRs in May, and the communal fire alarm system was professionally tested this month.

A standout feature is the separate rear plot of land, measuring approximately 300 square metres (31m x 9.7m). The site offers potential for future development, subject to obtaining the necessary planning permissions. This is an excellent opportunity for investors seeking an income-producing asset with strong existing yields, long-standing tenants, potential to increase rental returns, and the added benefit of valuable development land to the rear.

Central Heating

The property has the benefit of gas central heating (not tested).

Council Tax Band

Symonds + Greenham have been informed that this property is in Council Tax Band "A"

Disclaimer

Symonds + Greenham do their utmost to ensure all the details advertised are correct however any viewer or potential buyer are advised to conduct their own survey prior to making an offer.

Double Glazing

The property has the benefit of double glazing.

Floor Plan Disclaimer

The measurements detailed on the floor plan are the maximum possible measurement for the length and width of the respective room, which can potentially be a measurement into an alcove, wardrobe or cupboard.

Tenure

Symonds + Greenham have been informed that this property is Freehold.

Viewings

Please contact Symonds + Greenham on to arrange a viewing on this property.

Epc

Flat 1,193 Coltman Street, kingston upon hull, HU3 2SQ - C (75 / 76)
Flat 2,193 Coltman Street, kingston upon hull, HU3 2SQ - C (71 / 73)
Flat 3,193 Coltman Street, kingston upon hull, HU3 2SQ - C (73 / 73)
Flat 4,193 Coltman Street, kingston upon hull, HU3 2SQ - B (81 / 81)
Flat 5,193 Coltman Street, kingston upon hull, HU3 2SQ C - (76 / 76)