An ideal investment or possible multi generational property. This is a substantial end town house, about 1970 sq ft/182 sq m overall internally, which has been converted into two sizeable fully self contained apartments, one on each floor. The properties have upvc double glazing, independent gas central heating systems and have quite recently been re-fitted and appointed with a good standard of fittings, to include impressive en-suites to both of the two double bedrooms in each flat. Generous lounges have bay windows and the kitchens are fitted, with an ample dining space.
LOCATION
The property is positioned at the entrance to Hymers Avenue from Spring Bank West, a road leading to Ferensway in Hull city centre. The transport interchange and St Stephens shopping and entertainment complex on the north west edge of the city centre are just under a mile away. Closer to hand the Princes Avenue area with a variety of attractive café bars, restaurants, public houses and shopping facilities is a popular area for socialising serving an established residential area of early 20th century housing. Hymers College is located at the end of the avenue.
ACCOMMODATION
Each apartment is accessed via a communal entrance hallway facing Spring Bank West.
GROUND FLOOR - FLAT 1
Entrance Hall: Radiator and understairs cupboard.
Separate WC: Toilet suite, wash-hand basin and radiator.
Lounge: Marble-effect fireplace with wood surround includes living flame gas fire. Radiator and ceiling coving.
Dining Kitchen: Fitted Shaker-style base and wall cabinets with laminate worktops include a single drainer sink and integral electric oven, gas hob with cooker hood, dishwasher and fridge freezer. Radiator.
Bedroom One: Radiator.
En Suite Shower Room: With shower enclosure, toilet suite and pedestal wash-hand basin. Ceramic wall and floor tiling. Radiator.
Bedroom Two: Radiator.
En Suite Shower Room: With shower enclosure, toilet suite and pedestal wash-hand basin. Ceramic wall and floor tiling. Radiator.
FIRST FLOOR - FLAT 2
Landing: Radiator and boiler cupboard.
Lounge: Radiator and ceiling coving.
Dining Kitchen: Fitted Shaker-style base and wall cabinets with laminate worktops include a single drainer sink, integral electric oven and gas hob. Plumbing for automatic washing machine. Radiator.
Bedroom One: Radiator.
En Suite Shower Room: With shower enclosure, toilet suite and pedestal wash-hand basin. Ceramic wall and floor tiling. Radiator.
Bedroom Two: Radiator.
En Suite Bathroom: (N.B. Jack and Jill to the Landing.) Features a slipper bath, separate plumbed shower enclosure, toilet suite and pedestal wash-hand basin. Ceramic wall and floor tiling. Heated towel radiator.
EXTERNAL
Shallow forecourt garden spaces behind a screen roadside hedge. Rear courtyard with pedestrian access.
Services: All mains services are connected to the property. None of the services or installations have been tested.
Council Tax: Council Tax is payable to the Kingston-upon-Hull City Council. Each of the two flats is shown in the Council Tax Property Bandings List in Band A.
Tenure: Freehold with vacant possession upon completion.
Viewing: Strictly by appointment with the auctioneers. Tel 01482 866844.
Solicitors
Gosschalks, Queens Gardens, Hull, HU1 3DZ. FTAO Katie Wilson. kyw@gosschalks.co.uk. 01482 590290.
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. To register to bid and 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 on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.
Additional Fees
The purchaser will be required to pay an administration 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 prior to 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
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 |
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