This is a substantial apartment with tremendous potential in this east coast resort town. The property occupies the entire ground floor of this double fronted period end house, with twin bay windows affording views of the sea. The substantial two bedroomed accommodation extends to over 1,100 sq ft and has generous rooms with high ceilings. Gas central heating is installed, but the property is in need of a programme of some restoration and general modernisation to the fittings, allowing a buyer to create a property finished to a personal standard which would be an ideal holiday let or retirement home on the coast. Parking space and small front garden.
Standing behind the site of Hornsea's Floral Hall, a thriving community venue on the sea front, the flat is within a couple of minutes walk of the beach and around half a mile from the main shopping area of the town. The schools, modern leisure complex and attractive open space known as Hall Garth Park are equally close to hand.
Tenure : Leasehold
THE ACCOMMODATION COMPRISES:
GROUND FLOOR
FRONT ENTRANCE
Via communal central porch and hallway.
ENTRANCE HALL
LOUNGE
4.56m (15') max x 4.24m (13'11")
With front bay window and gas fire sited on a marble fireplace. Radiator and ceiling cornice.
DINING ROOM
4.46m (14'7") x 4.24m (13'11")
With Adam style mock fireplace and radiator.
KITCHEN
4.21m (13'10") x 2.57m (8'5")
Fitted with cabinets along two sides including worktops with single drainer sink. Further built-in shelved cupboard. Plumbing for automatic washer and dishwasher, gas cooker point, gas central heating boiler and double glazed window.
UTILITY ROOM
2.59m (8'6") x 2.43m (8')
With fitted worktops and wall cupboards.
BATHROOM / WC
Suite includes a bath with mixer taps and shower attachment, wash-hand basin and toilet. Splashback tiling and radiator.
BEDROOM TWO
4.46m (14'7") x 3.18m (10'5")
Radiator.
BEDROOM ONE
4.56m (15') max x 4.21m (13'10")
Front bay window, radiator and ceiling cornice.
EXTERNAL
Allocated parking space on tarmac forecourt. The area of garden in front of the living room is part of the property.
Council Tax
Council Tax is payable to the East Riding of Yorkshire Council. The property is shown in the Council Tax Property Bandings List in Valuation Band 'A' (verbal enquiry only).
Services
All mains services are connected to the property. None of the services or installations have been tested.
Tenure
Long leasehold, approx. 953 years remaining.
Viewing
By prior appointment with the auctioneers. Telephone: 01482 866844.
Solicitor
Graham & Rosen, 8 Parliament Street, Hull, HU1 2BB.
Legal Pack
A legal pack has been requested from the vendors solicitor and will be made available online as soon as it is received. You can register to receive an email notification when the pack is available by going to auctionhouse.co.uk/hullandeastyorkshire and clicking on the property you are interested in. On the property detail page you will see a red 'LEGAL PACK' button which you should click on and it will take you to the registration page.
Method of Sale
The property will be offered for sale by online auction with bidding starting at 12 noon on Monday 15th November and closing on Wednesday 17th November 2021 at 3.00pm. For further legal information relating to this lot please log on 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.
Guide Price
*Guides are provided as an indication of each seller's 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.
Additional Fees
Additional Fees (Including VAT): Administration Charge: £750 Buyer's premium £480 Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Online Bidding
If you are wanting 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
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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