A superb opportunity to acquire this former pub on plot of 0.29 acres (approx) in the centre of Driffield which benefits from planning permission to convert it to 4 town houses with permission for 2 further semi-detached houses in the rear grounds. The desirable location next to the church and close to the centre of this thriving town means it is sure to attract considerable interest.
The Red Lion is a three-story building and the planning permission granted allows for its redevelopment into 4 town houses with rear extensions to each from the current structure. They would consist of 3 three-bedroom properties (one with a games room) and 1 four bedrooms. Each would have a rear garden of various sizes and 2 parking spaces within the grounds at the rear that can be accessed via Church Lane. Further information can be seen via the Public Access area of the East Yorkshire Council Planning Portal with the application No/23/00022/PLF. Currently, there is a 3 bed living accommodation currently existing on the top floor which used to be the former pubs managers flat.
In 2025 permission was granted for the construction of two new build 2 story 2 bedroom semi-detached properties on the southwestern side of the plot. These two-bedroom properties would have reasonable sized gardens with a home office and one parking space each. Further information can be seen by via the Public Access area of the East Yorkshire Council Planning Portal with the application No/25/00767PLF/PLF.
Given the size of the property, its outside space as well as its location a range of other uses for the property may be of interest to potential purchasers (subject to necessary permissions).
Early viewing is essential to fully appreciate the potential of the site and the existing buildings though our 360 degree tour will provide an excellent insight in the first instance.
LOCATION
Driffield is a thriving market town located in East Yorkshire. The town provides an extensive range of shops, pubs, restaurants and other local amenities which are supplemented by those in Beverley, Bridlington and at a further distance, those in York and Hull. It is known as the Capital of the Yorkshire Wolds and provides great access to the wonderful surrounding countryside as well as the East Yorkshire coast.
Proposed Accommodation
From redevelopment of the existing building
No 56
Ground Floor-Living Room, Kitchen, Sun Room, WC Cloaks
1st Floor-Bedroom with Ensuite Shower Room, Bathroom
Second Floor-2 Bedrooms & Shower Room
Outside-Rear Garden and 2 Parking Spaces
No 57a
Ground Floor-Living Room, Kitchen, Sun Room, WC Cloaks.
First Floor-2 Bedrooms & Bathroom
Second Floor-Bedroom with En Suite and Dressing Room
Outside-Rear Garden and 2 Parking Spaces
No 57b
Ground Floor-Living Room, Kitchen, Sun Room, WC Cloaks.
First Floor-2 Beds (both with En Suite)
Second Floor-2 Bedrooms and a Bathroom
Outside-Rear Garden and 2 Parking Spaces
No 57c
Ground Floor-Living Room, Kitchen (with access to substantial cellar and storage area), Sun Room, WC Cloaks.
First Floor-2 Bedrooms and a Bathroom.
Second Floor-1 Bedroom (en-suite), Lounge and Gaming Area.
Outside-Rear Garden and 2 Parking Spaces
Two 2 Bedroom Semi Detached Houses to the rear.
Ground Floor-Hallway, WC Cloaks, Living Room and Dining Kitchen
First Floor-2 Bedrooms and a Bathroom
Outside-There is a small garden to the front, with a larger garden to the rear with a home office and 1 parking space each.
VAT
The purchase price of the property is subject to VAT, however in certain circumstance the VAT element would not be payable or could be reclaimed. Interested parties should speak to their professional advisors to determine their own situation. If VAT is payable, then Stamp Duty Land Tax (SDLT) will be payable on the total purchase price including VAT.
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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