Delta Capital Property Investment Secures Sale of Prime Hull Property

We are thrilled to announce that in February 2024 Delta Capital Property Investment successfully completed the off-market sale of 2-4 King Edward Street, in the centre of Hull for £600,000.

Hull is a diversified economy with strengths in sectors such as manufacturing, logistics, and tourism. The city is also home to the University of Hull, which is one of the largest universities in the UK. Hull is a vibrant and multicultural city with a lot to offer visitors.

Strategically positioned in a corner position on King Edward Street, facing Queen Victoria Square in the heart of the city's vibrant retail and leisure district. King Edward Street is Hull’s prime retail and leisure street. It is fully pedestrianised and runs from Queen Victoria Square to Jameson Street, linking the Whitefriargate and Princes Quay area with the Prospect Centre and St Stephen's retail centre and travel interchange.

The property comprises a four-storey building of tradition construction built in the 1920’s with brick elevations under a pitched slate mansard style roof design.

The property is entirely let to Loungers UK Limited from 28th February 2020 to 27th February 2035 at the passing rent of £55,000 per annum with 5 yearly upwards only rent reviews. The tenant agreed to remove their 2030 break, demonstrating commitment to the building and providing an unbroken term to 2035.

Loungers UK Limited is a British hospitality company that operates a chain of café bars called Lounge and Cosy Club. The company was founded in Bristol in 2002 and has since grown to become one of the largest and most successful all-day dining businesses in the UK, with over 200 sites across England and Wales.

The company has won numerous awards for its business performance and customer service, including the Best Casual Dining Company award at the British Restaurant Awards in 2023

In 2023, Loungers UK Limited is a thriving company with a strong reputation in the UK hospitality sector employing over 5,000 people generating over £200 million in revenue.

To learn more about this successful transaction or how Delta Capital Property Investment can help you achieve your investment goals, please contact Daniel Capobasso.

Daniel Capobasso MRICS

Managing | Delta Capital Property Investment

Mob: 07968 618 948

Email: dc@deltacap.co.uk

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