An extensively developed block of properties comprising three retail premises with a total of four large residential apartments. A potentially high yielding mixed use investment offered with vacant possession. 20-22 Chamberlain Road is a double ground floor retail unit presently in shell form (requiring a shop front and fit out) - suitable as one unit or for conversion to two. No 24 is an open plan retail unit that has been used by William Hill and latterly traded as Card Village. There are three residential units to the upper floors of the block, independently accessed via a roof terrace and rear yard with parking. As part of the development, a further detached maisonette has been constructed to the rear of the plot. The apartments each have gas central heating and uPVC double glazing and require some limited attention to fixtures and finishes.
LOCATION
The property is around 3 miles to the north east of Hull city centre within a residential area and close to te junction with James Reckitt Avenue, linking with Holderness Road which is the main arterial route into Hull from the east and consists of a number of independent and national retailers. Chamberlain Road also links with Stoneferry Road, a light industrial commercial area with many trade counter operators.
ACCOMMODATION
Retail (Ground Floor)
20-22 Chamberlain Road - A double retail unit (373" / 11.37m frontage). Approximate internal floor area 2,654 sq. ft. / 246.65 sq. m.
24 Chamberlain Road - A single retail unit with roller shutter frontage and store room with kitchen and WC. Approximate internal floor area 1,148 sq. ft. / 106.65 sq. m.
External
An enclosed tarmac rear yardway includes vehicular access from a rear tenfoot via a roller shutter door and includes (partly covered) storage and car parking for at least three vehicles.
Three Residential Apartments
On upper floors accessed via a rear external stairway access to first floor walkway/balcony.
20a Chamberlain Road
Living room with kitchen area (177" x 187" extending to 309" / 5.39m x 5.70m extending to 9.42m)
Bathroom (78" x 89" / 2.38m x 2.71m): With washbasin and WC (no bath)
Bedroom Two (106" x 155" / 3.23m x 4.72m)
Bedroom Three (74" x 91" / 2.26m x 2.77m)
Second Floor
Bedroom One (182" x 109" plus 66" x 70" / 5.55m x 3.32m plus 2.01m x 2.13m)
22a Chamberlain Road
Living room with kitchen area (1710" x 187" extending to 314" / 5.21m x 5.70m extending to 9.57m)
Bathoom / WC (79" x 84" / 2.41m x 2.56m): With three piece suite.
Bedroom One (180" x 1811" / 5.49m x 5.52m)
En Suite Shower Room with WC: Three piece suite.
Second Floor
Bedroom Two (181" x 107" plus 59" x 6.11" / 5.52m x 3.26m plus 1.80m x 1.86m)
24a Chamberlain Road
Living room with kitchen area (178" x 188" extending to 314" / 5.43m x 5.73m extending to 9.57m)
Bathroom / WC (72" x 90" / 2.19m x 2.74m): With three piece suite.
Bedroom Two (108" x 1110" / 3.29m x 3.38m)
Bedroom Three (72" x 150" / 2.19m x 4.57m)
Second Floor
Bedroom One (180" x 1010 plus 64" x 70" / 5.49m x 3.08m plus 1.95m x 2.13m)
22b Chamberlain Road
A modern build property on the rear boundary comprising a detached maisonette.
Ground Floor
Entrance Lobby
First Floor
Landing
Bedroom Two (94" x 78" / 2.87m x 2.38m)
Shower Room / WC: With three piece suite.
Open plan living room with kitchen. Partly vaulted ceiling.
Second Floor
Bedroom One (175" x 181" / 5.33m x 5.52m): With spiral staircase access.
Services
All mains services are understood to be connected, but have not been tested.
Tenure
Freehold. Vacant possession on completion.
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12.00 pm on Monday 20th May 2024 and closing on Wednesday 22nd May at 1.00pm. For further legal information relating to this lot please go to auctionhouse.co.uk/hullandeastyorkshire.
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer’s offices, with the solicitors and online at auctionhouse.co.uk/hullandeastyorkshire, before the date of the auction.
Solicitors
TLT Solicitors, One Redcliff Street, Bristol, BS1 6TP. 0333 006 0285 philip.collis@tlt.com
Additional Fees
The purchaser will be required to pay an administration charge of 0.3% of the sale price including VAT subject to a minimum charge of £900 (£750 plus VAT) and a buyer’s premium of £600 (£500 plus VAT) in addition to the purchase price of the property.
Guide Price
Guides are provided as an indication of each sellers minimum expectation. They are not necessarily figures which a property will sell for and may change at any time before the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction), which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Disbursements
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Online bidding
If you want to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process: youtube.com/watch?v=ImXr4HXR36c
Tenure : Freehold
Council Tax Band : A
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 0 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 3 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £425k | 0(5)** | ||
| £425k to £625k | 5 | ||
| £625k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
© 2024 Dee Atkinson & Harrison, All Rights Reserved.
