TIVOLI HOUSE KINGSTON UPON I HULL I HU1 3PE - ES1
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TIVOLI HOUSE KINGSTON UPON I HULL I HU1 3PE
TIVOLI HOUSE A modern city centre residential development aimed at discerning professionals 58 SINGLE BEDROOM APARTMENTS SET ON FOUR STOREYS
TIVOLI
HOUSE
Originally built as an office and retail development
TIVOLI HOUSE
on the site of a former theatre, Tivoli House occupies
a very convenient city centre location. Set on Paragon
A COMPLETE Street, it is within easy walking distance of all local
MODERNISATION /
CONVERSION amenities, together with The Paragon transport
interchange mainline station, the newly regenerated
PRINCES QUAY
Princes Quay and Hull's famous marina.
This strategic central position makes it ideally
situated for workers drawn in by a range of major
regeneration projects currently taking place nearby.
HULL MARITIME Named the UK City of Culture for 2017, Kingston
58 SINGLE
MUSEUM BEDROOM UNITS upon Hull is witnessing huge investment in its
economy and infrastructure, as well as a spectacular
transformation of its tourism sector. This, together
with the growth in its burgeoning digital industries
and the city's status as the UK capital of renewable
HULL PARAGON energy, is all helping to create new jobs and sustain
INTERCHANGE steady growth in demand for new, high quality
ENERGY accommodation.
EFFICIENT DESIGN
To help meet this demand, ES1 proposed a major
conversion project that would see Hull City Council's
former offices converted into highly marketable
ST STEPHEN’S one-bedroom apartments. Aimed squarely at
SHOPPING CENTRE discerning, higher-paying professionals, the units
would target one of the fastest growing residential
markets in the city.
A HIGH SPECIFICATION
AIMED AT DISCERNING
TENANTS Local authority planners accepted the proposal in
PROSPECT SHOPPING May 2018 and work began soon afterwards. It is
CENTRE scheduled for completion in Q3 of 2019.
HOSPITAL NHS TRUST DUE FOR COMPLETION Tivoli House now stands as one
Q3 2019 of the most exciting property
investment opportunities in the
whole of the North of England
ACCESS
ON FOOT
Tivoli House is situated on Paragon Street, one of the city's
central thoroughfares. It leads west towards the Hull Paragon
Transport Interchange, which lies just 150m away, and close by,
St Stephen's Shopping Centre. Prospect Shopping Centre is
similarly close, around 150m to the north, and Prices Quay lies
just over 200m away to the south east. The City Hall, Ferens Art
Gallery, the marina and Hull Minster are all within easy striking
distance. Naturally, this central location also makes it ideally
situated for pubs, restaurants, cafes and banks.
BY ROAD
The property is set just metres from the junction with the
A1097 (Ferensway), which leads north towards the university,
and south to the A63, which links to the Humber Bridge.
Ultimately, the A62 connects to the M62, which runs west to
Leeds, Bradford and Huddersfield.
BY BUS
Three bus stops are located within easy walking distance of the
property. Two are on Anlaby Road and one is on Ferensway.
However, with the city's central transport interchange just a
short stroll away, all of Hull's public transport services are at
residents' disposal.
BY RAIL
The city's mainline railway station forms part of Hull Paragon
Interchange. This modern new terminus runs services by First
Hull Trains, Northern, Virgin Trains and Transpennine Express.
Some of their many destinations include Manchester, Sheffield,
Leeds, York, Doncaster and London.
BY AIR
The nearest airport to Tivoli House is Humberside International
Airport. It serves flights to Aberdeen and Jersey, and overseas
flights to the Netherlands, the Balearics, Italy, Greece, Austria,
Switzerland, Hungary, Bulgaria and various destinations in
ACCESS DISTANCES TO
KEY LOCATIONS:
■
■
■
Hull Paragon Interchange: 150m
Ferens Art Gallery: 250m
Hull Central Library: 280m
■
■
■
Ron Dearing UTC: 600m
Hull & East Yorkshire NHS Hospital: 750m
Albert Docks: 820m
■
■
■
Port of Hull (Siemens ): 2.7km
University of Hull: 3.4km
ABP Hull: 4km
Scandinavia.
■ Kingston Retail Park: 500m ■ C4DI (Centre for Digital Innovation): 850m ■ Saltend Chemical Park: 7km
Other nearby airports include Leeds Bradford Airport, ■ Hull Minster: 580m ■ KCOM Stadium: 1.65km
and Robin Hood Doncaster Sheffield Airport.
"INVESTOR INTEREST SPARKED
BY HULL’S UK CITY OF CULTURE
STATUS IS BEING CREDITED FOR
THE BOOMING COMMERCIAL
AND RESIDENTIAL MARKET THAT
HAS BROUGHT THE COMPLETION
OF ACQUISITIONS WORTH
ALMOST £10M IN THE CITY
CENTRE SINCE LATE 2016."
HULL DAILY MAIL
10 JANUARY 2018
The developer's decision to target the professional
market is very deliberate. Hull is being re-energised by
a flood of new investment and this is creating new
jobs, particularly in fields demanding high skills, such
as renewable energy, advanced manufacturing,
healthcare and the digital industries.
The city's rising fortunes are the result of several
converging factors. One is the successful reinvention
of the dock area as a centre of excellence for
WHY
renewable energies such as offshore wind and
energy-from-waste. This thriving sector has drawn
huge sums of commercial investment and is
sustaining an ever-growing supply chain.
Other factors include a successful education sector
HULL? In 2017, Hull saw its economy buoyed by its status as UK City
of Culture. This helped to transform its visitor economy,
stimulating business growth and delivering measurable
improvements to quality of life. In Hull, property owners
are beginning to see the same positive effects that have
For a city of only 259,000 inhabitants, the economic impact of
such a trend is difficult to overstate. It will inevitably boost
average disposable incomes, it will draw new professional
workers to the area and it should therefore fuel growing
demand for high quality rented accommodation. What's more,
and the presence of one of the region's top been evident in previous cities of culture including Glasgow, if Hull follows the same pattern as Glasgow and Liverpool into
universities. Hull is also a focal point for leading-edge European City of Culture 1990, and Liverpool, European 2019 and beyond, then it should also see a marked and
healthcare research, and it hosts a wealth of well Capital of Culture 2008. sustained rise in average property values.
established food and drink manufacturers. It will also
benefit from Northern Powerhouse funding.
• Green Port Hull at Alexandra Dock. Amongst • The £86m transformation of Hull's Cultural • The £1.6m refurbishment of the city's
many other investments, this will feature a new Quarter into a new creative hub that will indoor markets. This is part of a £25m
£600m riverside berth for the export of wind generate new employment in the digital and redevelopment of the city centre.
turbines. Siemens and ABP have invested £310m. media sector.
• An £82m investment in the University
• The £200m Energy Works scheme. Led by the • The C4DI (the Centre for Digital Innovation). of Hull’s Computer Science Department.
"INVESTMENT INTO HULL INCLUDES
IN ALL, MORE THAN £1 Spencer Group, this will create one of the Launched in 2015 at a cost of £13.4 million, this
£106M OF HULL COUNCIL’S MONEY • A new University Technical College,
country's most advanced green energy facilities. digital hub is now home to organisations such as
INTO CAPITAL PROJECTS, BILLION OF INVESTMENTS costing £10m.
Saab, and runs innovations projects for clients
INCLUDING THE CITY CENTRE ARE NOW UNDER WAY IN • A new £450m enterprise zone.
such as Siemens and ABP. • Hilton Hotel's £20m Double Tree
UPGRADE. THERE HAS ALSO BEEN HULL. SOME OF THE MANY
• A £130m facelift for the Albion Square complex. development on Ferensway.
£78M OF PRIVATE INVESTMENT RECENT AND CURRENT • An award-winning transport interchange,
The remodelling of the area will see the
INTO THE CITY’S NEW ARTS AND PROJECTS NOW BENEFITING handling 24,000 passengers each day. • Hull City Council's £78m cultural
creation of new restaurants, shops, apartments
CULTURAL QUARTER, THE FRUIT THE CITY ECONOMY INCLUDE: capital programme.
and leisure facilities. • A new business development at Humber Quays,
MARKET, ON THE MARINA."
which has attracted tenants including The Royal • A new £36m conference and music centre
Bank of Scotland, PricewaterhouseCoopers off Castle Street, known as the Hull Venue.
YORKSHIRE POST and Barclays.
• A new £16m cruise ship terminal.
RECENT &
FORTHCOMING
PROJECTS
It is important to recognise that while Hull is
certainly benefiting from a number of new
investments and regeneration projects, many more
are now in progress - and their positive impact is yet
to be felt. There is huge potential waiting in the form
of major developments, as Hull Council's director of
RECENT &
regeneration, Mark Jones, explained in 2016:
FORTHCOMING
PROJECTS
"The Siemens (blade factory) hasn’t completed
recruitment. Reckitt Benckiser are still building their
research and development centre, and Charlie
Spencer’s Energy Works hasn’t opened. The New
Theatre hasn’t reopened. They are all yet to kick in,
in terms of economic impact."
"AS ONE OF THE HUMBER LEP’S
PRIORITY SECTORS, RENEWABLE
ENERGY IN THE HUMBER IS FAST
BECOMING ONE OF THE REGION’S
MOST IMPORTANT INDUSTRIES."
"...HANDLING IN EXCESS OF 12M
TONNES OF CARGO AND NEARLY
ONE MILLION PASSENGERS EVERY
YEAR, THE PORT OF HULL IS A KEY LORD HASKINS
ECONOMIC DRIVER IN HULL." CHAIR, HUMBER LEP
HULL MEANS BUSINESS
LOCATION: Yorkshire and Humber
COMMERCIAL
KEY EMPLOYMENT SECTORS MAJOR EMPLOYERS UK CITY OF CULTURE 2017
POPULATION: 258,700 (2016) DEVELOPMENT SITES
365,900 (working age)
42% under 35 (national average: 34%) ■ Construction ■ ARCO - safety equipment ■ Burma Drive, Marfleet ■ Economic value: £1 billion
HULL AT Digital and media ABP Associated British Ports Hedon Road extra (GVA)
■ ■ ■
POPULATION GROWTH: Estimated 10% by 2021 ■ Education ■ Aunt Bessies ■ iPark ■ Added jobs: 3,500
■ Finance and business services ■ Crown Paints ■ Priory Park
EDUCATION: 20% educated to degree level or higher ■ Food and drink ■ Ideal Standard ■ Wyke works
A GLANCE
■ Healthcare / medical ■ Reckitt Benkiser
ECONOMY: £8 billion ■ Manufacturing ■ Sewell Group
■ Port and logistics ■ Siemens
GROWTH RATE IN/ GVA: 43% ahead of UK average (2016)
■ Renewable energy ■ Spencer Group
BUSINESSES: 10,000 approx. (rising steadily) ■ Retail & leisure (including ) ■ TJ Smith & Nephew
■ Tourism
LONDONDERRY (2013) LIVERPOOL, EUROPEAN GLASGOW, EUROPEAN
CAPITAL OF CULTURE (2008) CITY OF CULTURE (1990)
Over a million people visited Derry in 2013 to take
HULL:
part in more than 400 events and programmes. The Guardian newspaper published the results of Tourism expert Prof. John Lennon of Glasgow
The city saw overnight tourist visits increase by a five year study into the social and economic Caledonian University recalls "...when Glasgow
61% year on year, and tourist spending rose by impacts of Liverpool's status. It noted: "the festival received European Capital of Culture in 1990, it
“HULL'S CITY OF CULTURE YEAR 86%. According to the EU's Culture for Cities and year saw 9.7m visitors to the city, an increase of was transformational for that city and perceptions
SHONE A SPOTLIGHT ON SOME
GREAT STUFF THAT WAS ALREADY
THERE BUT ALSO GAVE THAT PART
OF THE REGION THE CONFIDENCE
UK CITY Regions, "about £100 million ( 140 million) was
invested in the city through cultural programming
and infrastructure. It is estimated that for every £1
34%, and generated £753.8m for the economy. 85%
of Liverpool residents agreed that it was a better
place to live than before."
of it." Tourist visits rose by nearly 90%, and the
immediate economic impact was estimated at
between £10m and £14m. It also drew in over £6
OF CULTURE
spent, there has been a £5 return." million of contributions from the private sector.
TO PUSH ON.” UK surveys found a 15% increase in belief that
'Glasgow was changing for the better,' and almost
100% of locals agreed that it had changed Glasgow
2017
CAROLINE NORBURY for the better.
CHIEF EXECUTIVE,
CREATIVE ENGLAND
NOW, HULL IS BUILDING UPON THE SAME MODEL. RESIDENTS AND BUSINESSES IN HULL
CAN THEREFORE LOOK FORWARD WITH REAL CONFIDENCE TO LASTING IMPROVEMENTS
TO INFRASTRUCTURE, PUBLIC IMAGE AND THE LOCAL PROPERTY MARKET.
HULL:
UK CITY
OF CULTURE 2017
Held once every four years, the UK City of Culture is
an initiative that uses arts and culture as a means to
promote community and economic regeneration.
HULL WAS AWARDED THE TITLE
FOR THE PERIOD 2017 TO 2021.
This major accolade follows similar schemes in
Liverpool, Glasgow and Londonderry, each of which
saw appreciable improvements in living conditions
and economic performance.
Prior to the start of 2017, the University of Hull’s Culture, Place and Policy Institute
(CPPI) began a year-long study into the impacts of the city's status. The data is still
percolating through but in March 2018, the University released its preliminary findings.
These showed that the visitor economy had already seen enormous benefits.
"FERENS ART GALLERY AND HULL
MARITIME MUSEUM HAVE SEEN
“WE EXPECT 1 MILLION ADDITIONAL
VISITORS TO THE CITY, BRINGING
KEY FINDINGS:
■ Hull’s UK City of Culture year attracted a total
audience of 5.3 million, attending over 2,800
UK CITY QUALITATIVE RESEARCH BY THE
UNIVERSITY ALSO FOUND THAT AN
"OVERALL FEEL-GOOD FACTOR AND
Now, with Hull well into its four-year tenure,
the city is surely set to capitalise on its position.
For property investors, improving living and
YEAR-ON-YEAR INCREASES OF OVER
500%. IT IS PREDICTED THAT 2017
WILL BE THE MOST SUCCESSFUL
OF CULTURE
AN ADDITIONAL £60M INTO THE
events, cultural activities, installations and HEIGHTENED CONFIDENCE" HAS economic conditions should produce fast-rising YEAR EVER FOR THE SERVICE IN
LOCAL ECONOMY.”
exhibitions. IMPROVED THE LOCAL ATMOSPHERE demand for quality accommodation in the city, TERMS OF VISITOR NUMBERS."
AS REPORTED BY LOCALS. coupled with excellent prospects for longer term
■ Made In Hull season visits: 1.4m capital appreciation.
MARK JONES, DIRECTOR
OF REGENERATION
AT HULL CITY COUNCIL
■
■
Visits to museums and galleries: over 500,000
(in the first 4 months alone)
Extra visits to Hull Truck Theatre: 8,000
IMPACTS TO DATE THE UNIVERSITY OF HULL
■ Hotel occupancy: up by 13.8% (year on year)
■ Train journeys: up by 17% in month 1 (year on year);
and up by 12.7% over first 5 months.
■ Businesses reporting increased sales: over 50%
■ The total number of annual visitors in 2017
was 1.3m greater than in 2013.
■ The evaluation evidenced a new confidence in
local people, with significant increases (+9%) in
residents’ willingness to take part in a range of
cultural and non-cultural activities.
■ The projected value of tourism to Hull in 2017
is more than £300m.
■ Nearly 800 new jobs have been created in the
visitor economy and cultural sector since 2013.
■ Hull secured nearly £220m in investment into
its cultural and visitor economy.
■ Over 70% of residents have reported quality
of life improvements.
"THE RENEWABLE ENERGY SECTOR
WILL BE THE SINGLE BIGGEST
INFLUENCE ON THE LOCAL
ECONOMY FOR GENERATIONS,
CREATING THOUSANDS OF NEW
JOBS ALONG WITH A WEALTH OF
OPPORTUNITY FOR LOCAL PEOPLE
AND BUSINESS."
GREEN PORT HULL
"HULL IS BRITAIN'S BUSIEST PORT
AND THE FOURTH BUSIEST IN
EUROPE. IT IS ALSO HELPING TO
MAKE THE CITY THE UK CAPITAL
Supported by Hull City Council, Associated British FOR RENEWABLE ENERGY
Ports (ABP) and the University of Hull, Green Port Hull TECHNOLOGIES, WHICH ARE
seeks to establish the city "as a world class centre for SUPPORTING THE GROWTH OF
renewable energy, creating wealth and employment 10,000 NEW JOBS."
for the region."
Based around a regenerated Alexandra Dock, it has
at its heart a new manufacturing facility owned by
Siemens, which is dedicated to the production,
assembly and servicing of offshore wind turbine
GREEN
PORT
blades. Anchored by this major investment, the port
is now expected to become a national centre for Since planning permission was granted in 2014, The associated supply chain opportunities, An influx of new business, together with all
wind power and other sustainable energy Siemens, backed by its development partner together with Enterprise Zone investment their attendant professionals and highly
technologies, such as biofuels, waste-to-energy, ABP, has invested £310 million in the new plant. incentives, should see a large community of skilled technicians, therefore seems assured.
solar energy and tidal power generation. It has created 1,000 new jobs and will continue specialist businesses growing up in and around Once again, this can only be good news for
HULL
to support many others during future the port. In anticipation of this, Hull Council investors with high quality residential
In addition to manufacturing facilities, the construction works. The factory officially and its partners have identified 19 adjacent properties in the area.
development will feature storage facilities, offices opened in December 2016. development sites which are described as
and car parking. There are also plans to construct "prime locations for renewable energy sector
a £600 million berth and a roll-on, roll-off ramp businesses looking to relocate to the region."
alongside the deepwater channel that will facilitate
the transport of associated goods and materials.WE’RE COMMITTED TO PROVIDING
OUR STUDENTS WITH TOP-CLASS
FACILITIES AND AN IDEAL
ENVIRONMENT IN WHICH TO LIVE
AND LEARN, WHICH IS WHY WE’RE
UNDERGOING A £200-MILLION
PROJECT TO DRAMATICALLY
IMPROVE OUR BUILDINGS AND
FACILITIES."
UNIVERSITY OF HULL, 2017
No consideration of the local economy would be
complete without reference to the University of
Hull. One of the region's leading educational
establishments, it is closely tied to some of the
most important economic projects in the city. MAJOR INVESTMENTS:
HULL
With a student roll of 16,000 and around 2,500
staff, it is also a major employer in its own right.
Besides producing thousands of graduates each year ■ £130 million accommodation ■ £82 million investment scheme ■ £28 million health campus
and spawning many successful start-up ventures, the complex planned for the to improve the Computer Science (September 2017).
Founded in 1927, it has its main campus on West Campus. Department.
University is an important driver of investment in the ■ £9.5 million scheme to convert
Cottingham Road in one of Hull's northern suburbs, ■ £28 million health campus ■ £10 million for the new Ron Dearing Middleton Hall into a leading
city. For example, its Brynmor Jones Library underwent
but it has a second campus in Scarborough. Its city
campus is also home to the Hull York Medical
School, a collaborative project with the University of
York. Other notable faculties include the Hull
University Business School, which teaches around
UNIVERSITY a £27 million refurbishment between 2012 - 2014, and it
is now engaged in a £200 million improvement
programme. It was also a principal partner of Hull's
successful bid to become UK City of Culture for 2017.
■
(September 2017).
£9.5 million scheme to convert
Middleton Hall into a leading
performance venue and cinema.
■
University Technical College.
£130 million accommodation
complex planned for the West
Campus.
■
■
performance venue and cinema.
£82 million investment scheme to
improve the Computer Science
Department.
£10 million for the new Ron Dearing
3,500 students from over a hundred countries, and University Technical College.
the Postgraduate Medical Institute."RON DEARING UTC WILL OPEN IN A
BRAND NEW BUILDING IN HULL CITY
CENTRE IN SEPTEMBER 2017 AND OFFER
STUDENTS A TOTALLY NEW AND
UNIQUE WAY TO LEARN... WHETHER IN
MANUFACTURING, WIND FARMS, RAIL
LINKS OR HI-TECH HOSPITALS, WE NEED
A WORKFORCE THAT CAN DEVELOP NEW
PRODUCTS, STRETCH AND REUSE
EXISTING RESOURCES AND MEET ALL
THE CHALLENGES OF THE FUTURE. "
RON DEARING UTC
2017 was notable not only for seeing Hull become
UK City of Culture, but also for the opening of the
£10 million Ron Dearing University Technical College
(UTC). RON DEARING
Located in a new, purpose-made building in Hull city
centre, the UTC is supported by Hull University and
leading regional employers. Principally, it exists to UNIVERSITY KEY FACTS:
■
■
First opened:
Student ages:
September 2017
14 to 19
TECHNICAL
give young people the skills that local businesses ■ Student roll: 150, rising to 600
demand; responding to commercial feedback, it
specialises in Digital Technology and Mechatronics, ■ Location: Between Kingston Square and Worship Street
which it describes as "a combination of IT and
COLLEGE
■ Facilities: Workshops, design studio, machine testing arena, VR and 3D printing
engineering."
■ Sponsors: Spencer Group, Siemens, Reckitt Benckiser, Smith and Nephew,
The scheme is another example of ambitious local KCOM and the University of Hull.
plans and an investment in the city's future as a
technical centre of excellence."IF THE NORTHERN POWERHOUSE
WERE A COUNTRY, IT WOULD
BE AMONGST THE BIGGEST
ECONOMIES IN EUROPE. IF WE CAN
MAKE THIS REGION AN ECONOMIC
POWERHOUSE, THE WHOLE OF THE
UK WILL BENEFIT... WE WILL ENSURE
THE NORTHERN POWERHOUSE IS
RECOGNISED WORLDWIDE FOR
THE TRADE AND INVESTMENT
OPPORTUNITIES IT OFFERS."
PHILIP HAMMOND MP
CHANCELLOR OF
THE EXCHEQUER
The Northern Powerhouse is a Government-backed
economic development plan that seeks to rebalance
the present pattern of investment in favour of
northern towns and cities. Hull will be one of its
THE
beneficiaries.
The Powerhouse scheme will facilitate improvements
NORTHERN
to transport and infrastructure, investment in science
and technology, and the devolution of economic
development powers through 'City Deals'. POWERHOUSE ■ £13 BILLION EARMARKED FOR
IMPROVEMENTS IN THE NORTH
■ £556 MILLION BOOST ANNOUNCED IN
JANUARY 2017, COVERING 11 LEP AREAS
■ £10 MILLION ALLOCATED TO A NEW
LIFE SCIENCE INNOVATION FUND
■ OVER £3.3 BILLION ALLOCATED TO ■ SUPPORTING RAIL INFRASTRUCTURE
LOCAL ENTERPRISE PARTNERSHIPS IMPROVEMENTS INCLUDING HS2, HS3
AND THE NORTHERN HUB"DURING THE LAST YEAR, SOLD
PRICES IN HULL WERE 9% UP ON
THE PREVIOUS YEAR."
RIGHTMOVE
By national standards, property prices in Hull are
exceptionally affordable. Indeed, in March 2018,
Zoopla revealed Hull to be the most affordable
destination for first time buyers across the whole of
England and Wales.
In November 2018, Zoopla found that average house
prices in Hull stood at £140,171, with flats selling for a
little over £103,000. That compares against an
average, for England, of £326,307 for houses and
almost £313,000 for flats.
Figures published by the British Government in
August 2018 show that average property prices in the
East Riding of Yorkshire were £177,771, which is 2.5%
THE
up on the 2017 figure. This compares against an
English average of £249,748. In 2017, across the city as a whole, average values This trend is likely to continue, at least partly With a rising population and droves of new workers
Looking in Hull in particular, Rightmove notes that rose by 2.46% year on year, while in the central because there is a pronounced shortfall of available expected to enter the city in the coming years, this
PROPERTY
average prices stood at £120,879 over the 12 months HU1 postcode, values rose by 3.1%. Moreover, if residential property in Hull, particularly at the stark imbalance between supply and demand can
to October 2018. This is substantially lower than the we look specifically at flats and apartments in higher end of the market where most professional only serve to push up capital values.
wider regional average. This is good news for the same central postcode, Zoopla records that tenants are likely to want to live. In fact, housing
For now, Hull offers an ideal investment
average values have risen by more than 20% in supply actually fell by 7% last year. Hull City council
MARKET
investors looking to earn excellent yields, and when it proposition: low costs, rising demand and strong
comes to capital appreciation, the news is better still: the last five years. had previously stated that the market would require
prospects for appreciable capital growth.
according to forecasts by PwC, average prices in 14,440 new homes between 2011 and 2030, which
Yorkshire are set to rise well ahead of the UK average. equates to 880 per annum but, at present, the
This would see local prices grow from £155,000 to annual average is closer to 265.
£182,000 by 2022.TIVOLI
HOUSE: The individual units are now being
offered at attractive off-plan prices,
THE
DEVELOPMENT TIVOLI with the added benefit of 8.5%
projected yields.
HOUSE:
THE
Several important factors are driving rising demand
DEVELOPMENT
for quality accommodation in Hull. The first is the
surge in inward investment resulting from major
commercial projects. This, coupled with the
expansion of major educational instructions in the
city centre will inevitably create jobs and prompt
highly skilled workers to seek convenient local
accommodation.
Next, and equally obvious, is the impact of Hull's
KEY FEATURES:
status as the UK City of Culture. A burgeoning tourist
economy is now injecting both money and a 'feel-
good factor' into the city, both of which are helping ■ 58 single bedroom properties
to boost demand, property prices and rentals. The ■ Appealing to the profitable
same results were previously seen in Liverpool and professional market
Glasgow, so there is every reason to expect these ■ Designed for modern,
improvements to have a long term effect in Hull. energy-efficient living
A rising population - which is set to grow by 10% by ■ Strong rental demand
2021 - will also put pressure on the property market, ■ A convenient central location
while the city's high proportion of younger workers ■ Set in an area of massive
and skilled graduates will tend to shift much of the inward investment
new demand towards single bedroom properties.
■ Benefiting from 'UK City
For all these reasons, Tivoli House should stand as of Culture' status
one of the most marketable properties in the city. ■ Demand set to rise further
Pitched squarely at discerning professional tenants, in the coming years
its apartments will be modern, light and airy, well
equipped and exceptionally well located.TIVOLI
HOUSE:
THE
APARTMENTS
GENERAL FITTINGS
■ Karndene flooring in kitchen area
■ Carpet to living room, hall and bedroom
■ Blinds to all windows
■ Electric or gas heating and hot water
■ LED lighting
■ Smoke alarm
■ Television aerial
■ Wireless internet access
and electrical sockets
INTERIOR
FEATURES
BATHROOM
■ Fully tiled
■ WC, basin and shower,
■ Towel rail radiator
■ Mirror and ironmongery
FITTED KITCHEN
■ Fitted, high gloss units
■ Quality worktop
■ Stainless steel basin
■ Washer/Dryer
■ Fridge
ONE BEDROOM APARTMENTPURCHASING
OPTIONS
THE PAYMENT
STRUCTURE
IS AS FOLLOWS:
5%
ON RESERVATION
25%
ON EXCHANGE OF CONTRACTS
(28 DAYS FROM RESERVATION)
70%
ON COMPLETION Q3 2019
PROJECTED RENTAL For investors, Tivoli House
OPTION OF 8.5% promises robust demand, easy
affordability, impressive yields
FOR 10 YEARS and the realistic prospect of
steady capital growth.SUMMARY RENTAL
OPPORTUNITIES
■ Projected rental gross yields of 8.5% LOCAL
■ Highly attractive pre-market prices MARKET
■ 250 year lease
Empire Property Concepts, the developer of
■ Reserve with a payment of only 5% Tivoli House, currently owns and operates a
portfolio of residential apartments and a student
■ Excellent capital appreciation accommodation development - both situated in
the HU1 area of Hull. Our considerable experience
potential and success in investing in the local market have
given us insight to the exceptional demand for
■ Massive demand for professional
quality accommodation in the town, and we have
quality accommodation developed Tivoli House accordingly. For owners
■ Set in an area of fast-rising and landlords alike, it is designed to stand as
inward investment a popular and desirable city centre property.
■ Completion date Q3 2019FLEXIBLE RENTAL
TENANCIES ASSURANCE
All apartments not occupied by owners will be A 10 year 8.5% gross option to all investors.
available to rent through a blend of short term lets,
longer term tenancies and weekly serviced
8.5%
apartments. In all cases, demand is expected to
be extremely robust and investors can count on
projected yields.
Serviced apartments represent an important part of
this mix. Hull’s wealth of new investment and status
as UK’s City of Culture is fuelling a growth in
employment but it is also attracting large numbers of 10 YEAR ASSURED
seconded staff and specialist contractors. These and
other short-stay professionals demand geographical OPTION
convenience and high standards of accommodation
but they have little interest in long term rental ■ Retain the services of the existing
contracts. Serviced apartments are therefore the management company - renting the
strongly preferred choice, and yet they are notably property as a serviced apartment or
scarce within the town. on a longer contract
Tivoli House’s central location makes serviced ■ Adopt the existing tenant and self-manage,
apartments an attractive option for investors and
tenants alike. They have the potential to deliver
or
greater yields than conventional rented properties, ■ Make other alternative arrangements.
and they provide the quality and flexibility that
professional workers require.20%BELOW
MARKET
COMPARABLES
7
8 9
6
2
5 3
4
1
TIVOLI HOUSE
BOND QUEENS WAREHOUSE BANK THE WRIGHT CITY MERCHANTS WELLINGTON
1 STREET 2 COURT 3 13 4 APARTMENTS 5 ACADEMY 6 STREET 7 EXCHANGE 8 WAREHOUSE 9 STREET
1 BED 1 BED 1 BED 1 BED 1 BED 1 BED 1 BED 1 BED 1 BED
£109,000 £90,000 £99,950 £91,000 £130,000 £99,500 £99,950 £85,000 £120,000FLAT 116
area 47.6 m2
FLAT 114 FLAT 115
FIRST FLOOR area 35.8 m2 area 35.2 m2
APARTMENT APARTMENT BEDROOMS BATHROOMS SQ. FOOT
NUMBER TYPE
101 Apartment 1 1 323
102 Apartment 1 1 325
103 Apartment 1 1 344 FLAT 112
area 32.7 m2
CORRIDOR
104 Apartment 1 1 366
FLAT 113
105 Apartment 1 1 439 FLAT 111
area 50.9 m2
area 33.1 m2
107 Apartment 1 1 426
108 Apartment 1 1 336 FLAT 110
area 43.0 m2
LIFT
109 Apartment 1 1 389
CORRIDOR
FLAT 109
STAIRS 1
area 36.1 m2
110 Apartment 1 1 465 METERS SERVICE
RISER FLAT 101
area 30.0 m2
111 Apartment 1 1 356 STERILE CORRIDOR
4 step up
FLAT 108
112 Apartment 1 1 352 area 31.2 m2
LOBBY
STERILE CORRIDOR
2 step up
113 Apartment 1 1 534 2 step up
114 Apartment 1 1 385
FLAT 102
115 Apartment 1 1 379 FLAT 107 FLAT 106 FLAT 105 FLAT 104
FLAT 103
area 30.2 m2
area 39.6 m2 area 34.4 m2 area 34.5 m2 area 32.8 m2
area 32.5 m2
116 Apartment 1 1 545SECOND FLOOR
APARTMENT APARTMENT BEDROOMS BATHROOMS SQ. FOOT
NUMBER TYPE
201 Apartment 1 1 325
202 Apartment 1 1 330
203 Apartment 1 1 336 FLAT 212 FLAT 213 FLAT 214
area 30.9 m2 area 30.5 m2 area 30.3 m2
204 Apartment 1 1 354
206 Apartment 1 1 337
207 Apartment 1 1 336 CORRIDOR
FLAT 211
209 Apartment 1 1 381 FLAT 210
area 34.3 m2
area 32.5 m2 LIFT
FLAT 206
area 31.3 m2
210 Apartment 1 1 350 STAIRS 1
SERVICE
211 Apartment 1 1 369 STAIRS 2 RISER FLAT 201
area 30.2 m2
212 Apartment 1 1 333 FLAT 209 STERILE CORRIDOR
area 35.4 m2 LOBBY
CORRIDOR
STERILE CORRIDOR
213 Apartment 1 1 330
214 Apartment 1 1 326
FLAT 208 FLAT 207 FLAT 205 FLAT 204 FLAT 203 FLAT 202
area 31.2 m2 area 31.2 m2 area 31.4 m2 area 32.9 m2 area 31.2 m2 area 30.7 m2THIRD FLOOR
APARTMENT APARTMENT BEDROOMS BATHROOMS SQ. FOOT
NUMBER TYPE
301 Apartment 1 1 325
302 Apartment 1 1 330 FLAT 312
area 30.9 m2
FLAT 313
area 30.7 m2
FLAT 314
area 30.3 m2
303 Apartment 1 1 336
304 Apartment 1 1 336
CORRIDOR
305 Apartment 1 1 383 exit sign age
CORRIDOR
FLAT 311 FLAT 305
306 Apartment 1 1 336 area 32.5 m2
FLAT 307
area 35.6 m2 LIFT
area 31.3 m2
STAIRS 1
307 Apartment 1 1 337
SERVICE
STAIRS 2 RISER FLAT 301
308 Apartment 1 1 336 area 30.2 m2
FLAT 310 CORRIDOR
309 Apartment 1 1 336 area 35.4 m2 CORRIDOR CORRIDOR
STERILE CORRIDOR
310 Apartment 1 1 381
311 Apartment 1 1 350
312 Apartment 1 1 333 FLAT 309
area 31.2 m2
FLAT 308
area 31.2 m2
FLAT 306
area 31.2 m2
FLAT 304
404
area 31.2 m2
FLAT 403
303
area 30.3
31.2 m2
FLAT 302
area 30.7 m2
313 Apartment 1 1 330
314 Apartment 1 1 326FOURTH FLOOR
APARTMENT APARTMENT BEDROOMS BATHROOMS SQ. FOOT
NUMBER TYPE
401 Apartment 1 1 325
402 Apartment 1 1 330 FLAT 412
area 30.9 m2
FLAT 413
area 30.7 m2
FLAT 414
area 30.3 m2
403 Apartment 1 1 336
404 Apartment 1 1 336
CORRIDOR
405 Apartment 1 1 383
CORRIDOR
FLAT 411 FLAT 405
406 Apartment 1 1 336 LIFT
1.5m2 smoke vent
area 32.5 m2 area 33.9 m2
FLAT 407
area 31.3 m2
STAIRS 1
407 Apartment 1 1 337
SERVICE
STAIRS 2 RISER FLAT 401
408 Apartment 1 1 336 area 30.2 m2
CORRIDOR
409 Apartment 1 1 336 FLAT 410
area 35.4 m2 CORRIDOR CORRIDOR
STERILE CORRIDOR
410 Apartment 1 1 381
411 Apartment 1 1 350
412 Apartment 1 1 333 FLAT 409
area 31.2 m2
FLAT 408
area 31.2 m2
FLAT 406
area 31.2 m2
FLAT 404
area 31.2 m2
FLAT 403
area 31.2 m2
FLAT 402
area 30.7 m2
413 Apartment 1 1 330
414 Apartment 1 1 326WHO ARE SOLOMON WHAT IS FIRST FIX? HOW ARE THE Or GROUND RENT HAS BEEN
FAQs NEW HOMES?
SNH is a specialist property consultancy, working
with developers across the globe. SNH advises and
First fix is considered the midway point in the build
process – an accepted definition of this is:
It means all the work needed to take a building from
PROPERTIES VALUED?
Property prices and rental values are based on a
comparable market value in the local area. Tivoli House
You can self-manage or appoint
your choice of letting agent.
Or
SET AT £300 PER ANNUM
Ground Rent is essentially rent paid under the terms of
a lease by the owner of the property, let’s say an
collaborates on a broad range of residential schemes, is priced around 20% below market value. apartment, to the owner of the land on which it is built.
the existing structural floors prior to putting plaster on You can live in the property yourself.
supporting, developing and marketing outstanding the internal walls. This includes constructing all internal The lease will specify how much rent must be paid and
Many of our developments are located very
investment opportunities. walls and ceilings and fixing all cables for the electrical when it must be paid. This is sometimes paid in one
centrally in a town or city. This is intentional. Young
installation and all pipework in connection with the instalment or may be payable half-yearly or quarterly.
With offices in Dubai, London and Chester as upwardly mobile would-be tenants or purchasers look ARE THE APARTMENTS FURNISHED? The solicitor will advise you on this provision in the
well as sub offices in the Far East SNH is a truly plumbing and heating system. to be in prime locations, close to restaurants, shops and
No. All apartments come with a fitted kitchen. This lease.
global operator. leisure facilities. The developments command premium
rent and will also be sought after for purchase once the includes oven, hob and extractor as well as a fridge
HOW MANY PROPERTIES WILL BE development has been completed. This promises freezer. The lease at Tivoli House is 250 years.
WHAT IS THE ADDRESS IN THE WHOLE DEVELOPMENT? higher long term rental yields and capital growth. Approved furniture packs are available. Prices start from
A square foot value is shown on all the schedule of £2995 plus VAT. Full details on a range of options will be
OF THE DEVELOPMENT? A total of 58 properties - all one bedroom apartments.
accommodation documentation and a document available closer to the completion date of the HOW DO I RESERVE A PROPERTY?
Tivoli House showing prices of other similar comparable properties development.
You select a property, complete a reservation form and
Paragon Street in the area is available. pay a 5% reservation fee.
Kingston upon Hull
DO THE PROPERTIES
HU1 3PE HAVE A WARRANTY? WHAT ARE THE ONGOING
Yes, all EPC properties have a 10-year warranty which WHAT ARE MY OPTIONS FOR COSTS AT TIVOLI HOUSE WHAT HAPPENS NEXT?
covers build and materials. White goods will carry their LETTING MY APARTMENT ONCE I AND HOW LONG IS THE LEASE? Your solicitor will contact you in order to have you
IS TIVOLI HOUSE A own individual warranties.
HAVE COMPLETED THE PURCHASE? The service charge has been set at £2.00 per Sq Ft.. confirm your instructions to them to act for you and
NEW DEVELOPMENT? Service charges are fees that leaseholders normally outline their terms of business. They will also contact
YOU CAN TAKE ADVANTAGE OF
No. It is a refurbishment of a city centre office building. THE ASSURED LETTING OPTION. have to pay to cover their share of the cost of the seller’s solicitors to obtain contract documentation,
WHAT IS THE PRICE RANGE they will carry out all required searches and take all
maintaining the building they live in. Service charges
OF THE PROPERTIES? Assured returns of gross 8.5% per annum for 10 usually cover the costs of maintenance to communal or appropriate steps, whilst at the same time liaising with
HAS PLANNING PERMISSION Prices range from under £80,000 throughout to £95,000 years. You will have your rental income paid every you, to work towards an exchange of contracts within
shared areas e.g. entrance hall, stairs/lift, corridors,
month, net of management fees, ground rent and 28 days of reservation.
BEEN GRANTED ALREADY? service charge.
lighting and heating of those areas, car parking,
landscaping and the outside of the building, such as
Yes. This was granted by Hull City Council on May 2018.
Once the 10 years have passed, you have the option roof, external pipes, drains and buildings insurance. In
to continue with Danum House Management Ltd. this case, there is no service charge at all. As with
ground rent, the lease will generally set out the items
which are taken care of by the owner of the land or
their managing agents.WHO ARE THE SOLICITORS? CAN I TRANSFER MY CONTRACT WHEN I SELL MY APARTMENT DO Any individual who is a IF YOU ARE NOT RESIDENT IN
BEFORE I COMPLETE? I HAVE TO PAY CAPITAL GAINS TAX? national and also a resident of: THE UK AND HAVE INCOME
The developer’s solicitors are:
hlw Keeble Hawson Solicitors Yes. All contracts are fully transferable. Since April 2015 overseas investors get an allowance of Argentina, Australia, Azerbaijan, Bangladesh, Belarus, Bolivia, OR GAINS IN THE UK
Bosnia and Herzegovina*, Botswana, Canada, China, Côte
Lazarus House, £11,100 per person per year. If you are not resident in the UK you may have to pay
d’Ivoire (Ivory Coast), Croatia*, Egypt, Gambia, India,
14 Prince’s Street, Indonesia, Japan, Jordan, Kazakhstan, Korea, Lesotho, Malaysia, UK tax on any income or capital gains you have in the
Doncaster CAN I SELL MY APARTMENT? Montenegro*, Morocco, New Zealand, Nigeria, Oman, UK. But you may also be charged tax on your worldwide
DN1 3NJ Yes, you can sell your apartment at any time.
WHAT RATE OF CGT WILL I PAY IF Pakistan, Papua New Guinea, Philippines, Russian Federation, income or gains, which will include the UK, in the
Serbia*, South Africa, Sri Lanka, Sudan, Switzerland, Taiwan,
You can sell though all the normal channels or MY GAIN IS MORE THAN £11,100? Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey,
country in which you are resident. Double taxation
The recommended purchaser’s solicitors are agreements aim to ensure that you pay tax on your
alternatively contact us and we may be able to assist 18% or 28% dependent on taxable income. Turkmenistan, Uganda, Ukraine, Uzbekistan, Venezuela, income and gains once only.
Pepperells Solicitors you. We usually have investors looking to acquire Vietnam, Yugoslavia*, Zimbabwe.
100 Alfred Gelder Street completed properties. Some countries do have double taxation agreements
Hull with the UK. For information please check
HU1 2AE.
SHOULD I MAKE A WILL? Or an individual who is a resident of:
www.hmrc.gov.uk
WHAT STAMP DUTY IS PAYABLE? WHAT HAPPENS TO MY Austria, Barbados, Belgium, Fiji, France, Germany, Greece,
Head of Investment Property: APARTMENT WHEN I DIE? Ireland, Kenya, Luxembourg, Mauritius, Myanmar (Burma),
Your solicitor will advise you on your particular Namibia, Netherlands, Portugal, Swaziland, Sweden,
Sheena Taylor
Situation but, generally speaking, Stamp Duty Your solicitor will encourage you to make a will which Switzerland, Zambia. WILL I HAVE TO COMPLETE
Contact.
will be charged on the portion of the value will apply to your assets in the UK under UK law. A TAX RETURN?
Tel: 01482 326 511 Inheritance tax currently has an allowance of £325,000 The income tax chargeable in the UK is 20% for taxable
of the property that falls into each band. The HMRC may ask you to complete an annual tax
Email: sheena@pepperells.com – so no tax would be payable if your assets are below earnings up to £31,785, 40% for taxable earnings
See below return. We may be able to refer you to someone who
this level. 40% tax is payable above this level. between £31,786 - £150,000, and 45% for income above can help with this.
Up to £125,000 3% the £150,000 threshold.
HOW MUCH ARE THE
£125,000 - £250,000 5%
LEGAL COSTS LIKELY TO BE? WILL I HAVE TO PAY INCOME TAX?
£250,000 - £925,000 8%
Approximate costs will be £600 plus VAT and Non-resident individuals who satisfy one of the
disbursements. This is paid on reservation. £925,000 - £1.5 million 13% following conditions are entitled to United Kingdom
Personal Allowances which is currently £10,600 per
Over £1.5 million 15%
annum. Income up to this threshold is not subject to
Income Tax in the UK.You can also read
