Hull

Kingston upon Hull, usually abbreviated to Hull, is a city in the East Riding of Yorkshire, England. It lies upon the River Hull at its junction with the Humber estuary, 25 miles inland from the North Sea.

According to the 2001 census, Hull had a population of 243,589 living in 104,288 households. Of the total number of homes, 47.85% were rented compared with a national figure of 31.38% rented.

The economy of Hull was built on trading and seafaring, firstly whaling and later seafishing.

Another major industry was oilseed crushing. Although the fishing industry declined in the 1970s, the city remains a busy port, handling 13 million tonnes of cargo per year. The port operations run by Associated British Ports and other companies in the port employ 5,000 people. A further 18,000 are employed as a direct result of the port's activities.

The port area of the city has diversified to compensate for the decline in fishing by the introduction of Roll-on Roll-off ferry services to the continent of Europe. These ferries now handle over a million passengers each year.

Hull has exploited the leisure industry by creating Hull Marina from the old Humber Street Dock in the centre of the city. It opened in 1983 and has 270 berths for yachts and small sailing craft.

Industry in the city is focused on the chemical and health care sectors. Several well-known British companies, including BP, Smith & Nephew, Seven Seas, and Reckitt Benckiser, have facilities in Hull.

The health care sector is further enhanced by the research facilities provided by the University of Hull through the Institute of Woundcare and the Hull York Medical School partnerships.

In recent years, with the decline of fishing and heavy industry, the retail sector, tourism, the arts and further and higher education sectors have played an increasingly prominent role in the process of economic regeneration and raising the profile of the city. In 2009 it was estimated that businesses in Hull deliver an annual turnover of almost £8 billion, and over 5 million annual visitors contribute almost £210 million to Hull's economy.

The St. Stephen's shopping centre development on Ferensway opened in 2007, is a 560,000-square-foot (52,000 m2) scheme, costing over £160 million. In addition to the St. Stephen's retail project, a number of other commercial, office and services developments were planned or took place during the first decade of the 21st century. One high profile project was the £165 million Humber Quays development, built near to the Humber estuary, which gained World Trade Centre status as the World Trade Centre Hull & Humber.

An investment of £14.5 million by Network Rail was used to enhance the capacity of the port freight railway line, the Hull Docks branch, (completed 2008); the project was intended to increase its capacity from 10 trains per day to 22.

In July 2014, demolition began in the Fruit Market to allow room for the construction of the C4DI (Centre for Digital Innovation), a technology hub whose aim is to promote the tech sector in Hull and East Yorkshire.

For more information about Hull & its suitability for HMO property investment, please get in touch on 01302 564263 or email info@empirepropertyconcepts.co.uk.

Please also see our Market Summary for the reasons why Hull & the North of England are prime for HMO property investment.