A rare opportunity to acquire a substantial and distinctive property that may be of interest to a variety of purchasers. The property consists of a spacious period terraced house that has been converted from three smaller houses, and a substantial commercial premises with a very distinctive frontage and corner position. The total internal space is over 5000 sq ft. There is a detached double garage with off street parking and the commercial premises has two separate shop fronts. A great opportunity for the right buyer and early viewing is recommended.
The property has been in the owner’s possession for some time and has been added to and extended over the time. It occupies a prominent corner position on the corner of Beckside (where it ceases to be Flemingate) and Holme Church Lane so is a highly visible location which is ideal for those interested in the commercial potential. Potential buyers may be those looking for commercial premises alongside residential, a home with a potential letting income from the commercial side or those looking for a redevelopment opportunity (subject to necessary planning permissions), whether residential or mixed use. The residential side of the property comprises numbers 3,5 & 7 Beckside and extends to about 2000 sq ft. It currently offers: an Entrance Hall, spacious Living Room with conservatory style area and opening on to a Kitchen, Dining Room, Snug, Utility Room and WC Cloaks. To the first floor are 5 good size bedrooms, including 4 doubles one of which is en suite, and a House Bathroom. There is a central courtyard area, steps to a roof terrace and a rear yard area. The commercial element amounts to around 3000 sq ft and includes two distinctive shop fronts, one of which is prominent on the corner of Beckside and Holme Church Lane featuring a substantial front window space and a further window to the side. The one that fronts onto Holme Church Lane is smaller. There is extensive office, storage and workshop space on both the ground and first floors so the premises are likely to suit occupiers who need more than just retail space. The commercial premises have class ‘E’ use enabling them to be used for a number of purposes. As well as the clear opportunities (both commercial and residential) the premises currently offer, the size and location of the site does mean that it may be appealing to those seeking a development opportunity, subject to necessary permissions.
Both residential and commercial areas benefit from gas fired central heating and extensive double glazing.
On the opposite side of Holme Church Lane there is an area of off-street parking with space for a number of vehicles which leads to a detached double brick built garage with power and light.
LOCATION
The property is located not far from Beverley town centre in the historic Flemigate/Beckside area of the town that represents one of Beverley’s conservation areas. Its position at the junction of those two roads along with Holme Church Lane and nearby St Nicholas Road means it occupies a very prominent position which will be very appealing for those considering it for commercial purposes. From a residential point of view, both Flemingate with its shopping centre, Beckside and Holme Church Lane provide a range of local shops that are added to by the extensive range available within Beverley town centre as well as all the hospitality and leisure amenities Beverley also provides.
Residential Property
Entrance Hall - with stairs to first floor and door to inner courtyard.
Living Room - a spacious living space with more than enough to accommodate a dining area as well with a conservatory style element that opens on to the rear yard. Opens onto the…
Kitchen - a range of base and wall mounted units with fitted appliances, Velux style windows and a door opening onto the central courtyard area.
Utility Room
WC Cloaks
Dining Room - a spacious room with feature fireplace.
Snug
Entrance Hall - original entrance hall for 7 Beckside.
First Floor Landing - with a door to steps leading to the roof terrace.
Master Bedroom - a double bedroom.
En Suite Shower Room - with a 3 piece suite.
Bedroom - a spacious double bedroom.
Bedroom - a double bedroom.
Bedroom - a double bedroom.
Bedroom - a larger single bedroom.
Bathroom - a 3 piece suite including shower over the bath.
Outside Space - a central courtyard with an ornamental fountain and planting. A rear yard with block paving and a door giving access to the commercial space. The roof terrace is accessed from the first floor landing and there are steps up to the suspended decking area.
Commercial Premises
Principal Retail Space - with a door giving entry from Beckside and 3 windows to the front and a further window to the side Partially divided. Spiral staircase to…
First Floor Retail Space - a spacious room with a built in cupboard and door connecting to office space over the Holme Church Lane area of the building.
Office Space - a good sized room off the principal retail space.
Storage/Workshop - a good sized room. Door to…
Side Entrance Hall - with door onto Holme Church Lane and door to stairs to the first floor.
Workshop Area - with window onto central courtyard and quarry tiled floor.
Workshop Area - with door and window to Holme Church Lane and window onto central courtyard area.
Secondary Retail Space - with door and window to Holme Church Lane, stairs to first floor and door to….
Workshop/Storage Space - a large room with door to…
Workshop/Storage Space - door to rear courtyard and stairs to…
Storage Space - with velux style window. Door to….
Workshop/Storage Space - a spacious room with two velux style windows, stairs down to secondary retail space and doors to…
Large Workshop Space - a large space with multiple windows.
Parking & Garage
Off street parking is accessed via Holme Church Lane and has space for a number of vehicles. It leads to a detached brick built garage with pitched roof that has power and light laid on.
Heating and Insulation: The property has gas-fired central heating and extensive double glazing.
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 'C' (verbal enquiry only).
Rateable Value: There is no current ratable value for either shop premises listed with the Valuation Office. We are informed that the Principal Retail Space had a retable value of £6400. Interested parties are advised to make their own enquiries.
Usage: We have been informed that the commercial premises have class ‘E’ usage.
Tenure: Freehold. Vacant possession upon completion.
Viewings: Strictly by appointment with the agent's Beverley office. Tel: (01482) 866844.
Tenure : Freehold
Council Tax Band : C
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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