TIVOLI HOUSE

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

PRINCES QUAY

HULL MARITIME MUSEUM

HULL PARAGON INTERCHANGE

ST STEPHEN’S SHOPPING CENTRE

PROSPECT SHOPPING CENTRE

HOSPITAL NHS TRUST

TIVOLI HOUSE A COMPLETE MODERNISATION / CONVERSION

58 SINGLE BEDROOM UNITS

ENERGY EFFICIENT DESIGN

A HIGH SPECIFICATION AIMED AT DISCERNING TENANTS

DUE FOR COMPLETION Q3 2019

Originally built as an office and retail development on the site of a former theatre, Tivoli House occupies a very convenient city centre location. Set on Paragon Street, it is within easy walking distance of all local amenities, together with The Paragon transport interchange mainline station, the newly regenerated 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.

Named the UK City of Culture for 2017, Kingston 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 energy, is all helping to create new jobs and sustain steady growth in demand for new, high quality accommodation.

To help meet this demand, ES1 proposed a major conversion project that would see Hull City Council's former offices converted into highly marketable one-bedroom apartments. Aimed squarely at discerning, higher-paying professionals, the units would target one of the fastest growing residential markets in the city.

Local authority planners accepted the proposal in May 2018 and work began soon afterwards. It is scheduled for completion in Q3 of 2019.

Tivoli House now stands as one 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 Scandinavia.

Other nearby airports include Leeds Bradford Airport, and Robin Hood Doncaster Sheffield Airport.

ACCESS

DISTANCES TO KEY LOCATIONS:

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Hull Paragon Interchange: 150m

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Ron Dearing UTC: 600m

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Port of Hull (Siemens ): 2.7km

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Ferens Art Gallery: 250m

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Hull & East Yorkshire NHS Hospital: 750m

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University of Hull: 3.4km

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Hull Central Library: 280m

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Albert Docks: 820m

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ABP Hull: 4km

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Kingston Retail Park: 500m

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C4DI (Centre for Digital Innovation): 850m

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Saltend Chemical Park: 7km

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Hull Minster: 580m

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KCOM Stadium: 1.65km

"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 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 and the presence of one of the region's top universities. Hull is also a focal point for leading-edge healthcare research, and it hosts a wealth of well established food and drink manufacturers. It will also benefit from Northern Powerhouse funding.

WHY 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 been evident in previous cities of culture including Glasgow, European City of Culture 1990, and Liverpool, European Capital of Culture 2008.

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, if Hull follows the same pattern as Glasgow and Liverpool into 2019 and beyond, then it should also see a marked and sustained rise in average property values.

"INVESTMENT INTO HULL INCLUDES £106M OF HULL COUNCIL’S MONEY INTO CAPITAL PROJECTS, INCLUDING THE CITY CENTRE UPGRADE. THERE HAS ALSO BEEN £78M OF PRIVATE INVESTMENT INTO THE CITY’S NEW ARTS AND CULTURAL QUARTER, THE FRUIT MARKET, ON THE MARINA." YORKSHIRE POST

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 regeneration, Mark Jones, explained in 2016: "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."

RECENT & FORTHCOMING PROJECTS

IN ALL, MORE THAN £1 BILLION OF INVESTMENTS ARE NOW UNDER WAY IN HULL. SOME OF THE MANY RECENT AND CURRENT PROJECTS NOW BENEFITING THE CITY ECONOMY INCLUDE:

• Green Port Hull at Alexandra Dock. Amongst many other investments, this will feature a new £600m riverside berth for the export of wind turbines. Siemens and ABP have invested £310m.

• The £86m transformation of Hull's Cultural Quarter into a new creative hub that will generate new employment in the digital and media sector.

• The £200m Energy Works scheme. Led by the Spencer Group, this will create one of the country's most advanced green energy facilities.

• The C4DI (the Centre for Digital Innovation).

Launched in 2015 at a cost of £13.4 million, this digital hub is now home to organisations such as Saab, and runs innovations projects for clients such as Siemens and ABP.

• A new £450m enterprise zone.

• A £130m facelift for the Albion Square complex.

The remodelling of the area will see the creation of new restaurants, shops, apartments and leisure facilities.

• An award-winning transport interchange, handling 24,000 passengers each day.

• A new business development at Humber Quays, which has attracted tenants including The Royal Bank of Scotland, PricewaterhouseCoopers and Barclays.

• The £1.6m refurbishment of the city's indoor markets. This is part of a £25m redevelopment of the city centre.

• An £82m investment in the University of Hull’s Computer Science Department.

• A new University Technical College, costing £10m.

• Hilton Hotel's £20m Double Tree development on Ferensway.

• Hull City Council's £78m cultural capital programme.

• A new £36m conference and music centre off Castle Street, known as the Hull Venue.

• A new £16m cruise ship terminal.

"...HANDLING IN EXCESS OF 12M TONNES OF CARGO AND NEARLY ONE MILLION PASSENGERS EVERY YEAR, THE PORT OF HULL IS A KEY ECONOMIC DRIVER IN HULL." HULL MEANS BUSINESS

LOCATION:

Yorkshire and Humber

POPULATION:

258,700 (2016) 365,900 (working age) 42% under 35 (national average: 34%)

POPULATION GROWTH:

Estimated 10% by 2021

EDUCATION:

20% educated to degree level or higher

ECONOMY:

£8 billion

GROWTH RATE IN/ GVA: 43% ahead of UK average (2016) BUSINESSES:

10,000 approx. (rising steadily)

HULL AT A GLANCE

"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."

LORD HASKINS CHAIR, HUMBER LEP

KEY EMPLOYMENT SECTORS

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Construction Digital and media Education Finance and business services Food and drink Healthcare / medical Manufacturing Port and logistics Renewable energy Retail & leisure (including ) Tourism

COMMERCIAL DEVELOPMENT SITES

MAJOR EMPLOYERS

■ ■ ■ ■ ■ ■ ■ ■ ■ ■

ARCO - safety equipment ABP Associated British Ports Aunt Bessies Crown Paints Ideal Standard Reckitt Benkiser Sewell Group Siemens Spencer Group TJ Smith & Nephew

■ ■ ■ ■ ■

Burma Drive, Marfleet Hedon Road iPark Priory Park Wyke works

UK CITY OF CULTURE 2017

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Economic value: £1 billion extra (GVA)

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Added jobs: 3,500

“HULL'S CITY OF CULTURE YEAR SHONE A SPOTLIGHT ON SOME GREAT STUFF THAT WAS ALREADY THERE BUT ALSO GAVE THAT PART OF THE REGION THE CONFIDENCE TO PUSH ON.”

CAROLINE NORBURY CHIEF EXECUTIVE, CREATIVE ENGLAND

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.

HULL: UK CITY OF CULTURE 2017

LONDONDERRY (2013) Over a million people visited Derry in 2013 to take part in more than 400 events and programmes.

The city saw overnight tourist visits increase by 61% year on year, and tourist spending rose by 86%. According to the EU's Culture for Cities and Regions, "about £100 million ( 140 million) was invested in the city through cultural programming and infrastructure. It is estimated that for every £1 spent, there has been a £5 return."

LIVERPOOL, EUROPEAN CAPITAL OF CULTURE (2008)

GLASGOW, EUROPEAN CITY OF CULTURE (1990)

The Guardian newspaper published the results of a five year study into the social and economic impacts of Liverpool's status. It noted: "the festival year saw 9.7m visitors to the city, an increase of 34%, and generated £753.8m for the economy. 85% of Liverpool residents agreed that it was a better place to live than before."

Tourism expert Prof. John Lennon of Glasgow Caledonian University recalls "...when Glasgow received European Capital of Culture in 1990, it was transformational for that city and perceptions 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 million of contributions from the private sector.

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 for the better.

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.

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.

KEY FINDINGS: “WE EXPECT 1 MILLION ADDITIONAL VISITORS TO THE CITY, BRINGING AN ADDITIONAL £60M INTO THE LOCAL ECONOMY.” MARK JONES, DIRECTOR OF REGENERATION AT HULL CITY COUNCIL

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Hull’s UK City of Culture year attracted a total audience of 5.3 million, attending over 2,800 events, cultural activities, installations and exhibitions.

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Made In Hull season visits: 1.4m

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Visits to museums and galleries: over 500,000 (in the first 4 months alone)

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Extra visits to Hull Truck Theatre: 8,000

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Hotel occupancy: up by 13.8% (year on year)

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Train journeys: up by 17% in month 1 (year on year); and up by 12.7% over first 5 months.

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Businesses reporting increased sales: over 50%

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The total number of annual visitors in 2017 was 1.3m greater than in 2013.

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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.

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The projected value of tourism to Hull in 2017 is more than £300m.

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Nearly 800 new jobs have been created in the visitor economy and cultural sector since 2013.

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Hull secured nearly £220m in investment into its cultural and visitor economy.

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Over 70% of residents have reported quality of life improvements.

UK CITY OF CULTURE IMPACTS TO DATE

QUALITATIVE RESEARCH BY THE UNIVERSITY ALSO FOUND THAT AN "OVERALL FEEL-GOOD FACTOR AND HEIGHTENED CONFIDENCE" HAS IMPROVED THE LOCAL ATMOSPHERE AS REPORTED BY LOCALS.

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 economic conditions should produce fast-rising demand for quality accommodation in the city, coupled with excellent prospects for longer term capital appreciation.

"FERENS ART GALLERY AND HULL MARITIME MUSEUM HAVE SEEN YEAR-ON-YEAR INCREASES OF OVER 500%. IT IS PREDICTED THAT 2017 WILL BE THE MOST SUCCESSFUL YEAR EVER FOR THE SERVICE IN TERMS OF VISITOR NUMBERS." THE UNIVERSITY OF HULL

"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

Supported by Hull City Council, Associated British Ports (ABP) and the University of Hull, Green Port Hull seeks to establish the city "as a world class centre for renewable energy, creating wealth and employment 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 blades. Anchored by this major investment, the port is now expected to become a national centre for wind power and other sustainable energy technologies, such as biofuels, waste-to-energy, solar energy and tidal power generation.

In addition to manufacturing facilities, the development will feature storage facilities, offices and car parking. There are also plans to construct a £600 million berth and a roll-on, roll-off ramp alongside the deepwater channel that will facilitate the transport of associated goods and materials.

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 FOR RENEWABLE ENERGY TECHNOLOGIES, WHICH ARE SUPPORTING THE GROWTH OF 10,000 NEW JOBS."

Since planning permission was granted in 2014, Siemens, backed by its development partner ABP, has invested ÂŁ310 million in the new plant.

It has created 1,000 new jobs and will continue to support many others during future construction works. The factory officially opened in December 2016.

The associated supply chain opportunities, together with Enterprise Zone investment incentives, should see a large community of specialist businesses growing up in and around the port. In anticipation of this, Hull Council and its partners have identified 19 adjacent development sites which are described as "prime locations for renewable energy sector businesses looking to relocate to the region."

An influx of new business, together with all their attendant professionals and highly skilled technicians, therefore seems assured.

Once again, this can only be good news for investors with high quality residential properties in the area.

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.

With a student roll of 16,000 and around 2,500 staff, it is also a major employer in its own right.

Founded in 1927, it has its main campus on Cottingham Road in one of Hull's northern suburbs, 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 3,500 students from over a hundred countries, and the Postgraduate Medical Institute.

HULL

UNIVERSITY

MAJOR INVESTMENTS: Besides producing thousands of graduates each year and spawning many successful start-up ventures, the University is an important driver of investment in the city. For example, its Brynmor Jones Library underwent 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.

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£130 million accommodation complex planned for the West Campus. £28 million health campus (September 2017). £9.5 million scheme to convert Middleton Hall into a leading performance venue and cinema.

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£82 million investment scheme to improve the Computer Science Department. £10 million for the new Ron Dearing University Technical College. £130 million accommodation complex planned for the West Campus.

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■

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£28 million health campus (September 2017). £9.5 million scheme to convert Middleton Hall into a leading performance venue and cinema. £82 million investment scheme to improve the Computer Science Department. £10 million for the new Ron Dearing University Technical College.

"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).

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 give young people the skills that local businesses demand; responding to commercial feedback, it specialises in Digital Technology and Mechatronics, which it describes as "a combination of IT and engineering."

The scheme is another example of ambitious local plans and an investment in the city's future as a technical centre of excellence.

RON DEARING UNIVERSITY TECHNICAL COLLEGE

KEY FACTS:

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First opened:

September 2017

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Student ages:

14 to 19

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Student roll:

150, rising to 600

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Location:

Between Kingston Square and Worship Street

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Facilities:

Workshops, design studio, machine testing arena, VR and 3D printing

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Sponsors:

Spencer Group, Siemens, Reckitt Benckiser, Smith and Nephew, KCOM and the University of Hull.

"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 beneficiaries.

The Powerhouse scheme will facilitate improvements to transport and infrastructure, investment in science and technology, and the devolution of economic development powers through 'City Deals'.

THE NORTHERN POWERHOUSE

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£13 BILLION EARMARKED FOR IMPROVEMENTS IN THE NORTH

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£556 MILLION BOOST ANNOUNCED IN JANUARY 2017, COVERING 11 LEP AREAS

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OVER £3.3 BILLION ALLOCATED TO LOCAL ENTERPRISE PARTNERSHIPS

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SUPPORTING RAIL INFRASTRUCTURE IMPROVEMENTS INCLUDING HS2, HS3 AND THE NORTHERN HUB

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£10 MILLION ALLOCATED TO A NEW LIFE SCIENCE INNOVATION FUND

"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% up on the 2017 figure. This compares against an English average of £249,748.

Looking in Hull in particular, Rightmove notes that average prices stood at £120,879 over the 12 months to October 2018. This is substantially lower than the wider regional average. This is good news for investors looking to earn excellent yields, and when it comes to capital appreciation, the news is better still: according to forecasts by PwC, average prices in Yorkshire are set to rise well ahead of the UK average.

This would see local prices grow from £155,000 to £182,000 by 2022.

THE PROPERTY MARKET

In 2017, across the city as a whole, average values rose by 2.46% year on year, while in the central HU1 postcode, values rose by 3.1%. Moreover, if we look specifically at flats and apartments in the same central postcode, Zoopla records that average values have risen by more than 20% in the last five years.

This trend is likely to continue, at least partly because there is a pronounced shortfall of available residential property in Hull, particularly at the higher end of the market where most professional tenants are likely to want to live. In fact, housing supply actually fell by 7% last year. Hull City council had previously stated that the market would require 14,440 new homes between 2011 and 2030, which equates to 880 per annum but, at present, the annual average is closer to 265.

With a rising population and droves of new workers expected to enter the city in the coming years, this stark imbalance between supply and demand can only serve to push up capital values.

For now, Hull offers an ideal investment proposition: low costs, rising demand and strong prospects for appreciable capital growth.

TIVOLI HOUSE: THE DEVELOPMENT

Several important factors are driving rising demand 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 status as the UK City of Culture. A burgeoning tourist economy is now injecting both money and a 'feelgood factor' into the city, both of which are helping to boost demand, property prices and rentals. The same results were previously seen in Liverpool and Glasgow, so there is every reason to expect these improvements to have a long term effect in Hull.

A rising population - which is set to grow by 10% by 2021 - will also put pressure on the property market, while the city's high proportion of younger workers and skilled graduates will tend to shift much of the new demand towards single bedroom properties.

For all these reasons, Tivoli House should stand as one of the most marketable properties in the city.

Pitched squarely at discerning professional tenants, its apartments will be modern, light and airy, well equipped and exceptionally well located.

TIVOLI HOUSE:

THE DEVELOPMENT

The individual units are now being offered at attractive off-plan prices, with the added benefit of 8.5% projected yields.

KEY FEATURES: ■

58 single bedroom properties

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Appealing to the profitable professional market

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Designed for modern, energy-efficient living

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Strong rental demand

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A convenient central location

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Set in an area of massive inward investment

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Benefiting from 'UK City of Culture' status

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Demand set to rise further in the coming years

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 APARTMENT

L

For investors, Tivoli House promises robust demand, easy affordability, impressive yields and the realistic prospect of steady capital growth.

RENTAL OPPORTUNITIES

LOCAL MARKET Empire Property Concepts, the developer of Tivoli House, currently owns and operates a portfolio of residential apartments and a student accommodation development - both situated in the HU1 area of Hull. Our considerable experience and success in investing in the local market have given us insight to the exceptional demand for quality accommodation in the town, and we have developed Tivoli House accordingly. For owners and landlords alike, it is designed to stand as a popular and desirable city centre property.

FLEXIBLE TENANCIES All apartments not occupied by owners will be available to rent through a blend of short term lets, longer term tenancies and weekly serviced 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 seconded staff and specialist contractors. These and other short-stay professionals demand geographical convenience and high standards of accommodation but they have little interest in long term rental contracts. Serviced apartments are therefore the strongly preferred choice, and yet they are notably scarce within the town.

Tivoli House’s central location makes serviced apartments an attractive option for investors and tenants alike. They have the potential to deliver greater yields than conventional rented properties, and they provide the quality and flexibility that professional workers require.

20%BELOW MARKET COMPARABLES

1

BOND STREET 1 BED

£109,000

2

QUEENS COURT 1 BED

£90,000

3

WAREHOUSE 13 1 BED

£99,950

4

BANK APARTMENTS 1 BED

£91,000

5

THE ACADEMY 1 BED

£130,000

6

WRIGHT STREET 1 BED

£99,500

7

8

9

6 2

5

3 4

1 TIVOLI HOUSE

7

CITY EXCHANGE 1 BED

£99,950

8

MERCHANTS WAREHOUSE 1 BED

£85,000

9

WELLINGTON STREET 1 BED

£120,000

FIRST FLOOR APARTMENT NUMBER

APARTMENT TYPE

BEDROOMS

BATHROOMS

SQ. FOOT

101

Apartment

1

1

323

102

Apartment

1

1

325

103

Apartment

1

1

344

104

Apartment

1

1

366

105

Apartment

1

1

439

107

Apartment

1

1

426

108

Apartment

1

1

336

109

Apartment

1

1

389

110

Apartment

1

1

465

111

Apartment

1

1

356

112

Apartment

1

1

352

113

Apartment

1

1

534

114

Apartment

1

1

385

115

Apartment

1

1

379

116

Apartment

1

1

545

FLAT 115 area 35.2 m2

FLAT 114 area 35.8 m2

FLAT 112 area 32.7 m2

FLAT 116 area 47.6 m2

CORRIDOR

FLAT 113 area 50.9 m2 FLAT 111 area 33.1 m2

FLAT 110 area 43.0 m2

CORRIDOR

LIFT FLAT 109 area 36.1 m2

STAIRS 1 METERS

SERVICE RISER

FLAT 101 area 30.0 m2

4 step up

STERILE CORRIDOR

LOBBY

STERILE CORRIDOR

2 step up

FLAT 108 area 31.2 m2

2 step up

FLAT 107 area 39.6 m2

FLAT 106 area 34.4 m2

FLAT 105 area 34.5 m2

FLAT 104 area 32.8 m2

FLAT 102 area 30.2 m2 FLAT 103 area 32.5 m2

SECOND FLOOR APARTMENT NUMBER

APARTMENT TYPE

BEDROOMS

BATHROOMS

SQ. FOOT

201

Apartment

1

1

325

202

Apartment

1

1

330

203

Apartment

1

1

336

204

Apartment

1

1

354

206

Apartment

1

1

337

207

Apartment

1

1

336

209

Apartment

1

1

381

210

Apartment

1

1

350

211

Apartment

1

1

369

212

Apartment

1

1

333

213

Apartment

1

1

330

214

Apartment

1

1

326

FLAT 212 area 30.9 m2

FLAT 213 area 30.5 m2

FLAT 214 area 30.3 m2

CORRIDOR

FLAT 210 area 32.5 m2

FLAT 211 area 34.3 m2 LIFT

FLAT 206 area 31.3 m2

STAIRS 1 SERVICE RISER

STAIRS 2

FLAT 209 area 35.4 m2

STERILE CORRIDOR

LOBBY

CORRIDOR

FLAT 201 area 30.2 m2

STERILE CORRIDOR

FLAT 208 area 31.2 m2

FLAT 207 area 31.2 m2

FLAT 205 area 31.4 m2

FLAT 204 area 32.9 m2

FLAT 203 area 31.2 m2

FLAT 202 area 30.7 m2

THIRD FLOOR APARTMENT NUMBER

APARTMENT TYPE

BEDROOMS

BATHROOMS

SQ. FOOT

301

Apartment

1

1

325

302

Apartment

1

1

330

303

Apartment

1

1

336

304

Apartment

1

1

336

305

Apartment

1

1

383

306

Apartment

1

1

336

307

Apartment

1

1

337

308

Apartment

1

1

336

309

Apartment

1

1

336

310

Apartment

1

1

381

311

Apartment

1

1

350

312

Apartment

1

1

333

313

Apartment

1

1

330

314

Apartment

1

1

326

FLAT 312 area 30.9 m2

FLAT 313 area 30.7 m2

FLAT 314 area 30.3 m2

CORRIDOR

FLAT 311 area 32.5 m2

CORRIDOR

exit sign age

FLAT 305 area 35.6 m2

FLAT 307 area 31.3 m2

LIFT

STAIRS 1 SERVICE RISER

STAIRS 2

FLAT 301 area 30.2 m2

CORRIDOR

FLAT 310 area 35.4 m2

CORRIDOR

CORRIDOR

STERILE CORRIDOR

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 303 403 area 30.3 31.2 m2

FLAT 302 area 30.7 m2

FOURTH FLOOR APARTMENT NUMBER

APARTMENT TYPE

BEDROOMS

BATHROOMS

SQ. FOOT

401

Apartment

1

1

325

402

Apartment

1

1

330

403

Apartment

1

1

336

404

Apartment

1

1

336

405

Apartment

1

1

383

406

Apartment

1

1

336

407

Apartment

1

1

337

408

Apartment

1

1

336

409

Apartment

1

1

336

410

Apartment

1

1

381

411

Apartment

1

1

350

412

Apartment

1

1

333

413

Apartment

1

1

330

414

Apartment

1

1

326

FLAT 412 area 30.9 m2

FLAT 414 area 30.3 m2

FLAT 413 area 30.7 m2

FLAT 405 area 33.9 m2

FLAT 407 area 31.3 m2

STAIRS 2

1.5m2 smoke vent

FLAT 411 area 32.5 m2

CORRIDOR

CORRIDOR

LIFT

STAIRS 1 SERVICE RISER

FLAT 401 area 30.2 m2

CORRIDOR

FLAT 410 area 35.4 m2

CORRIDOR

CORRIDOR

FLAT 409 area 31.2 m2

STERILE CORRIDOR

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

FAQs

WHAT IS THE ADDRESS OF THE DEVELOPMENT?

HOW MANY PROPERTIES WILL BE IN THE WHOLE DEVELOPMENT?

Tivoli House Paragon Street Kingston upon Hull HU1 3PE

A total of 58 properties - all one bedroom apartments.

IS TIVOLI HOUSE A NEW DEVELOPMENT?

DO THE PROPERTIES HAVE A WARRANTY? Yes, all EPC properties have a 10-year warranty which covers build and materials. White goods will carry their own individual warranties.

No. It is a refurbishment of a city centre office building.

HAS PLANNING PERMISSION BEEN GRANTED ALREADY? Yes. This was granted by Hull City Council on May 2018.

WHAT IS FIRST FIX? 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 the existing structural floors prior to putting plaster on the internal walls. This includes constructing all internal walls and ceilings and fixing all cables for the electrical installation and all pipework in connection with the plumbing and heating system.

WHAT IS THE PRICE RANGE OF THE PROPERTIES? Prices range from under £80,000 throughout to £95,000

HOW ARE THE PROPERTIES VALUED?

GROUND RENT HAS BEEN SET AT £300 PER ANNUM

Property prices and rental values are based on a comparable market value in the local area. Tivoli House is priced around 20% below market value.

Ground Rent is essentially rent paid under the terms of a lease by the owner of the property, let’s say an apartment, to the owner of the land on which it is built.

Many of our developments are located very centrally in a town or city. This is intentional. Young upwardly mobile would-be tenants or purchasers look to be in prime locations, close to restaurants, shops and leisure facilities. The developments command premium rent and will also be sought after for purchase once the development has been completed. This promises higher long term rental yields and capital growth.

A square foot value is shown on all the schedule of accommodation documentation and a document showing prices of other similar comparable properties in the area is available.

ARE THE APARTMENTS FURNISHED? No. All apartments come with a fitted kitchen. This includes oven, hob and extractor as well as a fridge freezer.

Approved furniture packs are available. Prices start from £2995 plus VAT. Full details on a range of options will be available closer to the completion date of the development.

WHAT ARE THE ONGOING COSTS AT TIVOLI HOUSE AND HOW LONG IS THE LEASE? The service charge has been set at £2.00 per Sq Ft..

Service charges are fees that leaseholders normally have to pay to cover their share of the cost of maintaining the building they live in. Service charges usually cover the costs of maintenance to communal or shared areas e.g. entrance hall, stairs/lift, corridors, lighting and heating of those areas, car parking, landscaping and the outside of the building, such as roof, external pipes, drains and buildings insurance. In 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.

The lease will specify how much rent must be paid and when it must be paid. This is sometimes paid in one instalment or may be payable half-yearly or quarterly.

The solicitor will advise you on this provision in the lease.

The lease at Tivoli House is 250 years.

HOW DO I RESERVE A PROPERTY? You select a property, complete a reservation form and pay a 5% reservation fee.

WHAT HAPPENS NEXT? Your solicitor will contact you in order to have you confirm your instructions to them to act for you and outline their terms of business. They will also contact the seller’s solicitors to obtain contract documentation, they will carry out all required searches and take all appropriate steps, whilst at the same time liaising with you, to work towards an exchange of contracts within 28 days of reservation.

WHO ARE THE SOLICITORS? The developer’s solicitors are: hlw Keeble Hawson Solicitors Lazarus House, 14 Prince’s Street, Doncaster DN1 3NJ The recommended purchaser’s solicitors are DWS 19, 14 Friar Lane Leicester LE1 5RA

CAN I TRANSFER MY CONTRACT BEFORE I COMPLETE?

WHEN I SELL MY APARTMENT DO I HAVE TO PAY CAPITAL GAINS TAX?

Yes. All contracts are fully transferable.

Since April 2015 overseas investors get an allowance of £11,100 per person per year.

CAN I SELL MY APARTMENT? Yes, you can sell your apartment at any time.

You can sell though all the normal channels or alternatively contact us and we may be able to assist you. We usually have investors looking to acquire completed properties.

WHAT STAMP DUTY IS PAYABLE? Head of Investment Property: Asma Karim Contact.

Tel: 0116 2999199 Email: Asma.Karim@d-w-s.co.uk

Your solicitor will advise you on your particular Situation but, generally speaking, Stamp Duty will be charged on the portion of the value of the property that falls into each band.

See below

HOW MUCH ARE THE LEGAL COSTS LIKELY TO BE? Approximate costs will be £600 plus VAT and disbursements. This is paid on reservation.

Up to

£500k

WHAT RATE OF CGT WILL I PAY IF MY GAIN IS MORE THAN £11,100?

18% or 28% dependent on taxable income.

SHOULD I MAKE A WILL? WHAT HAPPENS TO MY APARTMENT WHEN I DIE? Your solicitor will encourage you to make a will which will apply to your assets in the UK under UK law.

Inheritance tax currently has an allowance of £325,000 – so no tax would be payable if your assets are below this level. 40% tax is payable above this level.

3%

£500K - 925K

8%

£950K - £1.5M

13%

Rest over £1.5M

15%

WILL I HAVE TO PAY INCOME TAX? Non-resident individuals who satisfy one of the following conditions are entitled to United Kingdom Personal Allowances which is currently £10,600 per annum. Income up to this threshold is not subject to Income Tax in the UK.

Any individual who is a national and also a resident of: Argentina, Australia, Azerbaijan, Bangladesh, Belarus, Bolivia, Bosnia and Herzegovina*, Botswana, Canada, China, Côte d’Ivoire (Ivory Coast), Croatia*, Egypt, Gambia, India, Indonesia, Japan, Jordan, Kazakhstan, Korea, Lesotho, Malaysia, Montenegro*, Morocco, New Zealand, Nigeria, Oman, Pakistan, Papua New Guinea, Philippines, Russian Federation, Serbia*, South Africa, Sri Lanka, Sudan, Switzerland, Taiwan, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, Uzbekistan, Venezuela, Vietnam, Yugoslavia*, Zimbabwe.

Or an individual who is a resident of: Austria, Barbados, Belgium, Fiji, France, Germany, Greece, Ireland, Kenya, Luxembourg, Mauritius, Myanmar (Burma), Namibia, Netherlands, Portugal, Swaziland, Sweden, Switzerland, Zambia.

The income tax chargeable in the UK is 20% for taxable earnings up to £31,785, 40% for taxable earnings between £31,786 - £150,000, and 45% for income above the £150,000 threshold.

IF YOU ARE NOT RESIDENT IN THE UK AND HAVE INCOME OR GAINS IN THE UK If you are not resident in the UK you may have to pay UK tax on any income or capital gains you have in the UK. But you may also be charged tax on your worldwide income or gains, which will include the UK, in the country in which you are resident. Double taxation agreements aim to ensure that you pay tax on your income and gains once only.

Some countries do have double taxation agreements with the UK. For information please check www.hmrc.gov.uk

WILL I HAVE TO COMPLETE A TAX RETURN? The HMRC may ask you to complete an annual tax return. We may be able to refer you to someone who can help with this.

TIVOLI HOUSE KINGSTON UPON I HULL I HU1 3PE