A rare investment or business opportunity in the heart of historic Beverleys Georgian Quarter. Itself a grade II listed building of great character, this property has been developed and modernised to provide a retail sales shop on the high street frontage, with accommodation over three floors, and to the rear a fully self contained cottage style apartment. This two bedroomed living accommodation is appointed to a high standard and has latterly been used as a popular holiday let and rental unit providing repeat bookings from clearly satisfied customers. The vendor has operated a leather goods retail business from the shop unit, which is sold with vacant possession, creating the opportunity for a purchaser to acquire a live-work business unit in this fashionable town centre business area dominated by independent specialist retailers. Equally, investors could continue with the letting of the cottage and shop unit which may present potential for further residential conversion, subject to all required permissions.
LOCATION
The 15th century North Bar, marking the boundary to historic Beverleys commercial core, is one of Easy Yorkshires most treasured landmarks, around which are one of the largest number of listed buildings in the area. The street is home to St Marys Church, another major attraction to visitors to the town, around which an area of thriving shops, bars & restaurants with on street (pay & display) car parking has developed.
ACCOMMODATION - 17 NORTH BAR WITHIN
GROUND FLOOR
Sales shop: Staircase to first floor accommodation and access beneath to:
Cellar (128" x 150" / 3.90m x 4.57m): Vaulted brick ceiling and brick floor.
Rear Sales / Living Room: Wood burning stove in feature brick fireplace.
Rear Entrance: With shower enclosure.
Separate WC: Low level toilet and wash-hand basin.
FIRST FLOOR
Landing Areas: Incorporate a small store and staircase to attic.
Front Retail / Store: Large feature window.
SECOND FLOOR
Landing
Office
RESIDENTIAL ACCOMMODATION - ROSE COTTAGE, 1 WOOD LANE
GROUND FLOOR
Entrance Hall: Private entrance door from Wood Lane, plumbing for automatic washing machine, store cupboard and radiator.
FIRST FLOOR
Split Level Landing
Kitchen: Neatly equipped with fitted cabinets having gloss-finish doors and quartz worktops incorporating an electric oven, gas hob with hood and refrigerator. Radiator.
Living Room: Features a wood burning stove in a brick chimney breast. Radiator. Understairs cupboard houses gas boiler.
SECOND FLOOR
Bedroom One: Includes mirrored sliderobes. Radiator.
Bedroom Two: Includes mirrored sliderobes and eaves storage. Radiator and two Velux windows.
Bathroom / WC: A three piece suite with full wall tiling incorporates a plumbed shower fitment over the bath.
Services: All mains services are connected. Individual supplies of water and electricity to the shop and cottage. The cottage is equipped with a gas radiator central heating system. A CCTV system in installed in the shop.
Tenure: The property is freehold and offered for sale with vacant possession. (Retention of future rental bookings on Rose Cottage subject to a buyers requirements).
Viewing: Strictly by appointment with the agents Beverley office. Telephone: 01482 866844.
Outgoings
Sales Shop - Rateable value £13,250.
Living Accommodation: Council tax band A..
Restriction on Use
The property is subject to a restrictive covenant preventing the preparation of food for sale on the premises.
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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