The Hull Property Market
This area provides high gross rental yields of between 6 and 10% giving comfort against rising interest rates.
Capital appreciation is driven by regeneration and inward investment in the area.
With relatively low property prices, a number of different properties can be purchased for diversification.
Facts and Figures:
1. Hull is the 8th largest city in Britain with a population of approximately 270,000.
2. Hull is strategically situated on the E20 trade route, which links Ireland and Britain to Northern Europe.
3. Hull University was shortlisted for the Sunday Times "University of the year" in 2005. It was voted top 10 University for graduate employment, and highly ranked.
4. The City has a thriving business environment with many international companies. The following companies have significant representation in the area; Northern Foods, BP Chemicals, Smith & Nephew and Sumitomo Heavy Industries, Rank Hovis, Kimberly Clarke, Reckitt Benckiser.
5. Hull is the capital of broadband Britain, with technology from Kingston Communications, and the BBC digital HQ here.
6. The Urban Regeneration Company for Hull has attracted £1.5bln of funding to a range of developments over the past 5 years. Citybuild is working in conjunction with Hull Council and Yorkshire Forward, their aim is to attract £1.5 billion of investment into Hull over the next 15 years also.
7. Recent Developments: Kingston Communications Stadium, The Deep submarium, Island Wharf Office Development. The City Centre St Stephens Development a £200million, 40 acre development led by ING Real Estate & designed by Lord Norman Foster in the centre of Hull. In the 1st half of 2006 £35mln of Government funding for regenerating residential areas of West Hull. ALL PROOF OF THE REGENERATION PRESENTLY.
Geographical Overview:
The thriving and historic City of Hull lies on the North bank of the Humber Estuary. It is divided into two by the River Hull. Although the river is physically small it acts as a large psychological division between the two sides of the city.
The centre of town is made up of the offices of regional companies and the architecturally stunning Princes Quay shopping centre. There is a major project underway called the St Stephens Development, which is a £160 million redevelopment in the city centre. It is a 40 acre site and once completed will provide a state of the art transport interchange, a shopping and leisure complex, a hotel and also a residential portion.
Another successful development has been the Queens Gardens complex, with new studio's for the BBC and over 100 new apartments above.
There is also the Marina Area, which is due for redevelopment and there are outline plans from Citybuild, the Hull regeneration company, to make the area into more leisure and retail, rather than warehouses. Likewise, an area called Island Wharf near the marina is being developed and will be the new HQ for Northern Foods.
To the East of the river is East Hull. A large scheme of new housing along the Humber has been formed by Bellway Homes to form an urban village of 1500 houses. Otherwise the area is mainly made up of terraced housing with the occasional industrial complex, and plenty of retail properties. To the West of the river is the University, the hospital and again a considerable area of residential. To the North of the city centre are the North Hull estates of Bransholme and Orchard Park.
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