DESCRIPTION
A rare opportunity has arisen to acquire one of Beverley's most unique and noted period properties. Grade 1 listed, the four-storey tower, thought to be Beverley's tallest habitable building, overlooks the medieval 15th century North Bar and boasts incomparable far reaching views over rooftops to the scenic common land of Beverley Westwood and surrounding Georgian Quarter. This iconic 18th century landmark building was until recently used as solicitors' offices although it is considered many will relish the opportunity to return Tower House to its former glory as a unique residence Planning permission for this has been granted, with potential to create a home with five bedrooms and five bathrooms. There is a sizeable walled rear car park which could be developed to make a delightful private garden, with excellent garage/vehicle space, accessed from Pasture Lane.
Tower House and the adjoining Bar House were originally a single dwelling, on a site said to be where King Charles I's officers met when they were trying to capture Hull, at the start of the English Civil War. Well known local artists Fred and Mary Elwell are understood to have lived in the properties.
LOCATION
Positioned adjacent to historic North Bar within the town's Georgian Quarter the property is right on the northern edge of Beverley's thriving and historic town centre with a superb range of specialist and national retailers intermixed with numerous cafe bars and restaurants along with important buidings of interest. The Westwood common pastures, home to the golf and race courses, are but a few hundred yards away and the town boasts excellent sporting and recreational facilities which include a theatre and cinema. The property is within the catchment area for the town's outstanding rated Boys' Grammar and Girls' High Schools.
ACCOMMODATION
Currently, the internal accommodation comprises as follows, and is shown on the existing floor layout plan provided. The approved layout proposal to create a 5-bedroomed home is also provided in plan form.
GROUND FLOOR
Entrance Hall / Reception (14'0" x 7'4" / 4.27m x 2.24m): Two radiators and ceiling coving. Entered through twin vestibules which give access to:
Meeting / Reception Room (14'4" x 15'10" / 4.39m x 4.60m): Marble fireplace, radiator, ceiling cornice, dado and wall mouldings.
Stairwell Hallway
Rear Office (15'6" x 17'0" / 4.75m x 5.18m): French door to rear. Gas fire on fireplace surround and radiator.
Rear Entrance Passage: With access to:
Two Cellars (11'3" x 18'3" / 3.43m x 5.57m with vaulted ceiling and 8'0" x 10'7" / 2.44m x 3.23m)
Lobby Area (10'11" x 11'11" / 3.08m x 3.39m): Access to:
Office (9'0" x 8'7" / 2.74m x 2.65m)
Two separate WCs: Each with a radiator, toilet and wash basin.
Store / Office (12'4" x 12'4" / 3.78m x 3.78m): With gas fire and cupboard housing gas central heating boiler.
Store (12'2" x 5'2" / 3.72m x 1.58m)
Store (6'11" x 8'10" / 1.86m x 2.47m)
FIRST FLOOR
Half Landing
Separate WC: With low level suite and wash-hand basin.
Main Landing: Radiator.
Internal Office (14'0" x 7'0" / 4.27m x 2.14m) : Radiator. Lit by ceiling skylight.
Front Office (18'10" x 16'0" / 5.52m x 4.88m): Two radiators and shelved cupboard.
Rear Office (13'3" x 17'0" / 4.05m x 5.18m): Radiator.
Store (5'5" x 8'1" / 1.68m x 2.47m): Radiator.
SECOND FLOOR
Landing
Store (5'5" x 6'0" / 1.68m x 1.83m): Radiator.
Rear Office (9'3" x 10'9" / 2.83m x 3.32m): Radiator.
Staffroom (9'11" x 15'0" / 2.78m x 4.57m): Radiator and two wall-mounted gas central heating boilers.
Kitchen (5'11" x 7'6" / 1.56m x 2.32m): Sink unit and two shelved cupboards.
THIRD FLOOR
Landing: Radiator.
Rear Office (19'8" x 17'3" / 6.04m x 5.27m): Featuring four tall arched windows providing much light and far reaching views across rooftops to the Westwood and racecourse and along North Bar Without. Two radiators.
Front Office (11'4" x 7'7" / 3.47m x 2.35m): Similar windows provide views of North Bar. Radiator.
EXTERNAL
To the rear a stone paved terrace runs alongside the single storey accommodation and there are three steps up onto the wide expanse of car parking, easily accommodating five vehicles but with tremendous potential to create a garden space which would enjoy privacy and sunny seclusion. The plot is walled on each side boundary with an open rear access onto the vehicular right of way, Pasture Lane.
Services: All mains services are connected. Gas fired radiator central heating is installed. None of the services or installations have been tested.
Tenure: The property is held under freehold title with vacant possession on completion.
Planning permission: Consent for change of use of the property from office to a dwelling was given by East Riding of Yorkshire Council on 10 June 2022. A copy of the Notice of Decision (ref 21/04604/PLF) with approved plans is available on the online planning portal or upon request from the agents.
Outgoings: The property is currently assessed for business rates with a Rateable Value of £16,250. However, it will be re-assessed for Council Tax purposes in the event of change of use to residential being implemented. The local authority is East Riding of Yorkshire Council.
Viewing: Strictly by appointment with the sole agent’s Beverley office on (01482) 866844.
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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