Location
The property has an excellent frontage onto Exchange Street, close to the heart of the Market Town of Driffield and is within comfortable walking distance of all main amenities. Driffield itself is a thriving town located on the southern edge of the Yorkshire Wolds. The larger towns of Bridlington, Beverley and Malton and the cities of York and Hull are within easy travelling distance either by road, rail or bus.
Accommodation
Ground Floor
Gallery
With a modern double glazed shop front, ceiling spotlights, picture rail, fitted shelving, bench window seat, alcove cupboards, under stairs storage cupboard, moulded cornices and contemporary style verticle radiator.
Store Room
WC
With low-level WC and wash hand basin.
Workshop/Studio
With sliding patio doors to the courtyard and double radiator.
Store Room
With staircase to the first floor studio.
Garage
With double wooden doors opening onto Exchange Street. uPVC Internal door to the apartment entrance hall.
Apartment
The self-contained apartment enjoys its own entrance off Exchange Street as well as being accessible from within the commercial premises.
Entrance Lobby
Entrance Hall
With Victorian tiled floor, picture rail and moulded cornice to the ceiling. Staircase leading off.
First Floor
Landing
With stripped pine floor, two understairs storage cupboards, picture rail and a single radiator.
Living Room
With an original fireplace for an open fire, stripped pine flooring, double radiator, alcove shelves, picture rail, moulded cornices and box window.
Sitting Room
With single radiator, ornamental fireplace, picture rail, moulded cornices and TV aerial point.
Kitchen
Recently refitted with a range of modern kitchen units including a Belfast style sink with mixer tap, base cupboards, space for a range style oven, wood block worktops, fitted shelving, wall mounted gas fired combination boiler, plumbing for an automatic washing machine or dishwasher and double French doors to the roof terrace.
Bathroom
With four piece suite including a corner bath, corner shower cubicle, pedestal wash hand basin and dual flush low-level WC. Fully tiled walls and single radiator.
Studio
Accessed from a connecting door from the bathroom and from a staircase leading up from the store room. With an over stairs storage cupboard that also has plumbing for an automatic washing machine.
On the First Floor
Landing
Bedroom One
With two wall light points, double radiator and uPVC double glazed window.
Bedroom Two
With a double radiator and uPVC double glazed window.
Bedroom Three
With a double radiator and uPVC double glazed window.
Bedroom Four
With single radiator and uPVC double glazed window and over stairs storage cupboard.
Outside
The front of the property faces directly onto Exchange Street. To the rear is an enclosed south facing courtyard with storage shed. A first floor roof terrace accessed from the kitchen provides a pleasant space to sit out.
Services
All mains services are connected
Council Tax & Business Rates
The shop has a rateable value of £2,000 and will qualify for small business rate relief.
The residential accommodation is currently listed as being in council tax band A.
Tenure
Freehold with vacant possession upon completion.
Viewing
Strictly by appointment with the sole agents on 01377 241919
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 £125k | 0 | ||
| £125k to £250k | 2 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £125k | 3 | ||
| £125k to £250k | 5 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £300k | 0(2/5)* | ||
| £300k to £500k | 5 | ||
| £500k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
© 2022 Dee Atkinson & Harrison, All Rights Reserved.
