This traditional double fronted detached house is offered for sale for the first time in approximately 60 years and is a tremedous opportunity for buyers seeking a property with development potential on a site of approx 0.26 of an acre. The present three bedroomed accommodation, extending to about 1,180 sq ft, is in need of a comprehensive programme of modernisation and the large rear garden would enable considerable extension (or re-development) to be undertaken, subject to any required planning approval being granted. The house has open fields to the front and also enjoys a private rear aspect and is close to amenities in both Beverley and Hull.
LOCATION
The property fronts the A1174 road into Hull, about 1.5 miles from the centre of the popular market town of Beverley which provides excellent shopping and recreational facilities both in the historic Georgian quarter and recently developed Flemingate complex. The town also boasts popular schools, a good range of sports amenites, and a railway station. Hull city centre is a about 7 miles to the south.
THE ACCOMMODATION COMPRISES:
GROUND FLOOR
Entrance Hall: Radiator.
Through Lounge: Front-facing bay window, open grate tiled fireplace and two radiators.
Dining Room: Front-facing bay window, open grate tiled fireplace and radiator.
Kitchen: Sink unit, floor-standing gas central heating boiler, electric cooker point, uPVC double glazed window, understairs cupboard and pantry.
Rear Entrance Lobby: Built-in cupboards, uPVC double glazed window and door.
Separate WC: Low level toilet suite.
FIRST FLOOR
Landing
Bedroom One: Radiator and airing cupboard with hot water tank (fitted electric immersion heater).
Bedroom Two: Radiator.
Bedroom Three: Radiator and uPVC double glazed window.
Bathroom / WC: Enamelled steel bath, pedestal wash-hand basin and low level WC. Radiator.
EXTERNAL
The house stands well back from the road within its grassed plot of approximately quarter of an acre. Side driveway leads to a detached garage and parking at the front of the house. The rear garden includes flowering, shrubs and trees.
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 East Riding of Yorkshire Council. From verbal enquiries we are advised that the property is shown in the Council Tax Property Bandings List in Valuation Band E.
Tenure
Freehold. Vacant possession upon completion.
Viewings
Strictly by appointment with the auctioneers on 01482 866844.
Solicitors
Laura Hyam, Wilkin Chapman LLP, The Hall, Lairgate, Beverley, HU17 8HL. Telephone: 01482 398398. Email: laura.hyam@wilkinchapman.co.uk.
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 12th September 2022 and closing on Wednesday 14th September 2022 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 auctioneers offices, with the solicitors and on-line at www.auctionhouse.uk.net/hullandeastyorkshire prior to the date of the auction.
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.
Additional Fees:
The purchaser will be required to pay an administration charge of 0.3% of the purchase price subject to a minimum of £750 (£625 plus VAT) and a buyers premium of £480 (£400 plus VAT) in addition to the purchase price of the property.
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
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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