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Regal House features a collection of attractive one bedroom studio apartments. Designed to an immaculate standard with modern appliances bringing the rooms to life. CityRise has secured these apartments with the serviced accommodation model in mind. With extremely low purchase prices and a growing demand for short lets in Hull city centre, we expect Regal house to achieve 16% gross and 10% net yield after all costs.
This is a fantastic opportunity to invest in a property that will ensure great cash flow and in a city that is growing at a pace unseen across much of the UK. It is in this regard, you can profit greatly in both the short term and long term with Regal House.
Kingston upon Hull, usually abbreviated to Hull, sits on the Northern shore of the Humber Estuary. The English Town in East Yorkshire, was crowned Capital of Culture, by the Department of Digital, Culture, Media & Sport in 2017. With a population of 321,000, Hull is the 4th largest city in the region of Yorkshire & the Humber. With a growing population of young people, the city now enrolls over 16,000 students at The University of Hull.
In recent years, the retail sector, tourism, the arts, further and higher education sectors have played an increasingly prominent role in the process of economic regeneration. Therefore, raising the profile of the city. With many great landmarks, Hull is also home to the deepest aquarium in Europe, The Deep. The city has been revamped with spectacular lighting and unique, colourful fountains in Queens Victoria Square. Mirrored pools at Trinity square and an Italian-style plaza surrounding Hull Minister. The Hull New Theatre was also revitalised with a £16m investment and the city now welcomes the addition of Hilton hotel in Ferensway. The new and improved marina and fruit market are now the cultural and social heart of the city. Derelict houses have been transformed into art
galleries, contemporary bars and music venues.
A Key Gateway on Land & Sea…
A key gateway on the UK’s busiest trading estuary. The Humber Ports are the UKs biggest ports complex, supporting 12,000 jobs and contributing to over £800 million to the economy a year. The Port of Hull handles approximately 10 million tonnes of cargo, amounting to £12 billion in trade each year.
The M62 motorway and A63 road links Hull to the cities of Leeds, Manchester, and
Liverpool as well as the rest of the country. The Highways England project, part of a
wider £400m scheme to ease congestion on the major road, will help connect the city
centre to Hull’s marina area.
The city is also home to the 8th longest suspension bridge in the world!
Impressively, Humber Bridge is the only bridge of this scale you can cycle across.
Over the last 8 years, £1.5bn of regeneration investment has been poured into the ever growing city of Hull. Arco, the UK’s leading safety equipment supplier has also invested £25m in a new National Distribution Centre in Hull. In 2019, construction began on the largest new-build office development in Hull for more than half a century.
In July 2014, the Fruit Market was transformed into Hull’s Centre for Digital Innovation (C4DI). The project was supported by Humber’s Local Growth Fund of £1.3m. The space is now home to 200 tech firms as well as hundreds of digital specialists and freelancers. The £130m plans for Albion Square, will see a new shopping, leisure and housing development. Accompanied with a new multi-storey carpark. A new ice arena will also feature in the heart of Hull. The Old Town area was named as 1 of 10 Heritage Action Zones by Historic England and received a share of £6m. In May 2019, a £42 million construction investment raised flood defences, protecting 113,000 properties from climate
change and tidal flooding.
The city of Hull continues to receive regeneration investments. This trend continues as the city establishes itself as the UK’s leader in renewable energy. The Siemens Gamesa factory in Hull, is producing the blades for the Hornsea Project Two. This will be the world’s biggest wind farm when operational in 2022 and no doubt will boost economy in the city.
Properties with a HU1 postcode, in the city centre, achieved 5% NET yields and have seen a 23% price increase over the past 5 years. The latest apartments on George Street also sit within this postcode.
Securing a mortgage is a huge financial commitment. Whether you are saving for your first investment or financial planning for your next, it is crucial that you calculate correctly. Use our mortgage calculator to help to determine what your monthly repayments will be. This way you can ensure that the rent earnt covers the repayments on your buy to let property.
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Use this calculator to determine the Stamp Duty Land Tax (SDLT) on your property investment. Stamp Duty is a tax paid by the buyer of a UK residential property. The stamp duty rate ranges from 2% to 12% of the purchase price. However, it can change based upon the value of the property, the purchase date, and whether you are a first-time buyer or not. Also, a 2% surcharge is added to each of these rates for buyers who are non-UK residents.
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Discover whether a property is worth investing in. Use our Rental Yield Calculator to work out the rental yields on your investment.
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