This terraced house in need of some further modernisation represents an ideal opportunity to purchasers seeking a property with potential for enhanced value. It is quietly located overlooking allotment gardens to the south of Flemingate, and has its own gardens to both the front and rear. The two bedroomed accommodation is double glazed and centrally heated with a modern gas boiler, but would now benefit from updating of the interior fixtures and fittings and some general tlc.
LOCATION
Sparkmill Terrace is just a few yards off Flemingate and enjoys a quiet south facing position overlooking the allotments, with pedestrian access via Sparkmill Lane. Walking routes of little more than half a mile lead into the southern end of Beverley's main shopping centre, Wednesday Market, passing the sports centre, Flemingate retail and leisure park with cinema, the railway station and historic Minster. This is therefore an excellent location for those needing to regularly access the town centre amenities.
THE ACCOMMODATION COMPRISES:
GROUND FLOOR
Through Living / Dining Room: A period-style marble-effect fireplace incorporates living flame gas fire. Two radiators. Door to enclosed staircase.
Kitchen: A range of fitted cupboards to one wall include worktops with sink and space for electric cooker and fridge. Built-in shelved cupboard. Radiator.
Rear Entrance Lobby: Space and plumbing for automatic washing machine with cupboard above.
Bathroom / WC: A panelled bath includes an electric shower fitted above and splashback tiling, pedestal wash-hand basin and low level toilet suite. Radiator.
FIRST FLOOR
Landing
Bedroom One: Radiator.
Bedroom Two: Radiator and bulkhead cupboard housing gas-fired combination boiler.
EXTERNAL
A shared pedestrian access across the front of the terrace separates the house from its grassed front garden. At the rear the property has a private garden area comprising a concrete yard, gravel and paved areas enclosed by high timber fencing. A further pedestrian access runs across the end of the garden.
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. The property is shown in the Council Tax Property Bandings List in Valuation Band 'A' (verbal enquiry only).
Tenure: Freehold. Vacant possession on completion.
Viewing: Strictly by appointment with the agent's Beverley office. Telephone: 01482 866844.
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 |
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