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THE GLASS HOUSE APARTMENTS

75 QUEENS DOCK AVE, HULL, HU1 3FA

INVESTMENT OPPORTUNITY IN HULL CITY CENTRE

OIEO £12,500,000

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LOCATION

Located on Queen’s Gardens (Main City Square)

Gardens undergoing a major £12m redevelopment.

• Cafés, restaurants, bars, theatres, galleries, museums

• The Bonus Arena, New and Hull Truck Theatre
• The business centre / district and business amenities
• Marina, Old Town, Trinity Market, Humber Street area
• University and university campuses
• Well-connected transport (next to train station)

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TYPICAL FLOORPLANS

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ABOUT

• Brand new-built development in Hull city centre

• Former Queen’s Gardens Police Station

• Conversion development comprised of 94 units

• High-end luxury development with many amenities:

(cinema, gym, dining suite, co working space, games room,
concierge, private and secure parking spaces).
•

INVESTMENT INFORMATION

• Freehold + 48 leasehold units (+ parking spaces)

• 48 apartments comprise of:

- 7 x one-bedroom
- 37 x two-bedroom
- 4 x three-bedroom

• Current rental Income : £ 807,000 per annum

• Market Rent (ERV) : £ 996,000 per annum
With a combination of Short & Long lets ERV in excess of £1.10m

• Occupancy: 43/48 (90%)

• OFFERS IN EXCESS OF : £ 12,500,000

• 6.5% CURRENT YIELD

• + 8% REVESIONARY YIELD (ASSET MANAGEMENT)

VENDOR HAPPY TO OFFER RENTAL GUARANTEE (5 YEAR)

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TENANCY SCHEDULE (as of March 2024)

# Floor Beds Sq Ft Market Rent (ERV) Current Rent
1 G 2 756 £1,450 £1,250
2 G 2 773 £1,450 £1,250
3 G 2 691 £1,350 £1,250
4 G 2 701 £1,500 £1,500
5 G 1 538 £1,050 £950
6 G 1 538 £1,050 £950
7 G 2 735 £1,450 £1,000
8 G 1 538 £1,250 £1,250
9 G 2 710 £1,450 £1,250
10 G 2 770 £1,450 £1,250
11 G 2 758 £1,450 £1,450
12 1 2 756 £1,450 £1,450
13 1 2 773 £1,450 £1,450
14 1 2 811 £1,500 £1,350
15 1 2 770 £1,450 £1,250
16 1 2 758 £1,500 £1,450
17 2 2 756 £1,500 £1,450
18 2 2 773 £1,500 £1,100
19 2 1 538 £1,300 £1,300
20 2 2 811 £1,700 Vacant
21 2 2 691 £1,450 £1,450
22 2 2 770 £1,600 £1,450
23 2 2 758 £1,600 £1,450
24 3 2 756 £1,700 £1,600
25 3 2 773 £1,700 £1,350
26 3 1 538 £1,200 £1,110
27 3 1 538 £1,200 £1,100
28 3 2 1,220 £2,000 Vacant
29 3 1 538 £1,200 £1,100
30 3 2 710 £1,700 £1,600
31 3 2 770 £1,700 £1,450
32 3 2 758 £1,700 £1,450
33 4 3 1,066 £2,500 £2,500
34 4 3 1,227 £2,750 £2,750
35 4 2 926 £2,000 Vacant
36 4 2 926 £2,000 Vacant
37 4 2 926 £2,000 £1,833
38 4 2 861 £2,000 £1,850
39 4 2 990 £2,000 £1,833
40 4 2 926 £2,000 £1,800
41 4 3 1,324 £3,000 £3,000
42 4 2 926 £2,000 £1,833
43 4 2 861 £2,000 £1,800
44 4 2 990 £2,100 £2,000
45 4 2 926 £2,000 £1,833
46 4 2 947 £2,000 £1,800
47 4 3 1,163 £3,000 £2,500
48 4&5 2 867 £2,000 Vacant
Total 38,926 £82,350 pm £66,593 pm
TOTAL PA £988,200 pa £799,120 pa
TOTAL + G/R £995,925 pa £806,845 pa

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AMENITIES

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SPECIFICATIONS

Kitchen
Fully fitted German designed and manufactured kitchen featuring soft close handle-less
doors and Spanish Silestone work surfaces with under-counter sinks.
Kitchen islands in all apartments.
Bosch appliances include induction hob, extractor fan and digital fan assisted oven
Integrated appliances include wine chiller, washer-dryer, dishwasher, fridge-freezer and built
in microwave.

Bathroom and En-suites

Fully tiled bathrooms and en suites with Italian porcelain tiling
Separate glass enclosed shower with rain head to en suite
Above bath shower with rain head to house bathrooms
Built in mirrored wall cabinet
Rointe towel rails controlled via mobile app.
Villeroy & Boch unbranded sanitary ware.
White pottery with complementary chrome fittings.

Finishes
Da Vinci Karndean flooring to lounge/kitchen and lobbies
Wool-mix carpets to bedrooms with quality underlay
Farrow and Ball emulsion painted walls and ceilings
Satin finish to all skirting, architraves and doors
Solid core internal fire doors
Flat entrance Lava solid core doors with concealed closer

Windows
Anthracite powder coated floor to ceiling aluminium windows. Fire resistant grey ppc curtain
walling

Safety and Security

Colour video intercom access system
Heat detector link to fire alarm system
Automatic number plate recognition (anpr) to entrance gates
CCTV to common areas.
Wiring for free view TV, DAB, vhf, SkyQ with data connection to lounges and bedrooms.
Access to future proofed ultrafast broadband with up to 1gbps capability, supplied by Pure
Broadband. The broadband system has an exclusive fibre line plugged directly into each and
every apartment and does not share bandwidth with other properties in the area.

External
The main entrance leads to a welcoming atrium with hotel-style concierge desk.
Under croft car parking for 105 cars and secure bicycle storage is available.
Landscaped rear courtyard designed by award winning architects.
Front and rear pedestrian access to apartments.

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INTERNAL IMAGES

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EXTERNAL IMAGES

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HULL CITY CENTRE

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HULL FACTS

• Urban Population: c. 315,000

• Households: c. 135,000
• Local Economy worth ++£7bn (2021)
• Expected to grow by more than £2bn (by 2026)
• More than £10bn has been invested over the past 10 years in Hull
• Increased Investments and Regeneration (25-year Development plan)
• Home to Cranswick (FTSE250), Croda (FTSE100) & Fenner (Michelin)
• Humber Port is the UK’s busiest port and the fourth biggest in Europe.
• University of Hull ranked in top 5 in the 'Northern' university ranking.
(+15,000 students)
• Awarder as UK City of Culture (2017)
• 2nd friendliest and top-10 cities to visit (2016)
• Located 60 miles east of Leeds (1 ½ hrs drive)
• Located 40mi north south east of York (1 hrs drive)
• Located 175mi north of London (2 ½ hrs train)

HULL REGENERATION ( +£100 m public & private )

Aims and Objectives

Education (Schools and University)
1. Incline retail and business sectors
2. Create a positive reputation Employment (creating of new jobs)
3. Desirable place to live, work and play
4. Ensure long term benefits & positive experience
5. Stimulate regeneration of the city centre Homes & Developments
6. Promote mixed use development proposals
7. Create better coherence & physical connectivity Public Health & Social Care (Facilities)
8. Enhance history, culture and creative character
9. Stimulating and support economic growth
Community (Transport, Parks, Rivers)

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UNIQUE SELLING POINTS (USPs)

• Most luxurious & contemporary development in Hull.

• Located in the main square of city centre.

• Great mix combination of tenants including students,

young professionals, footballers, Hull city council.

• South Facing views to Queen’s Gardens (regenerated).

• Massive regeneration in Hull City

(business, infrastructure, investment, development).

• Gym, dining suite, co working space, games room

and cinema room as well as private parking spaces.

• On-site concierge and management team

• Property could also make great short-term rental

returns due to its specs and location ( ERV + £1.10m )

• Vendor can offer rental guarantee (secured income)

• Great break-up value (sold individually)

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