Description
This interesting investment opportunity currently offers a mixture of three residential rental properties together with a Grade II Listed church that is currently let to a private school that provides education of 11 & 16 years olds. Although the lease is due to expire in July this year due to the retirement of its founder, ownership of the business could also be passed onto the purchaser if desired. The residential elements of the property comprise of a pair of semi-detached three-bedroom houses that are let to long term tenants on ASTs and a one-bedroom Guardian’s flat that forms part of the church building but enjoys its own access and off-street parking.
St Patricks Church itself retains many architectural features and provides great potential for alternative use (subject to planning and Listed Building consent) such as redevelopment to residential housing, or conversion to a commercial or leisure use.
Location
Spring Street is located just a stones throw from the vibrant city centre including the St Stephens shopping centre, Double Tree by Hilton hotel and a host of other shops, hotels and public transport hubs.
Income
St Patricks church is currently let on a lease that expires on the 21st July 2022 at a passing rent of £15,000pa.
Numbers 35 & 37 Spring Street are let on assured shorthold tenancies to long term tenants at £550 PCM.
The one-bedroom Guardians flat is let on a guardians tenancy at £450 PCM including services.
Total gross income £33,600pa.
Accommodation
St Patricks Church
This former Roman Catholic Church stands on a site of approximately 0.12 acres and has a footprint of approximately 6,438 sq ft. Internally it comprises mainly an open congregation space featuring stained glass leaded windows, an original altar and pulpit, crypt and confessional which has been converted into three WCs. Parts of the congregation space have been sectioned to form smaller classroom areas. There is also an entrance vestibule, office and a kitchen area. A first-floor balcony is home to the church organ and a spiral staircase leads up to the bell tower and a small external balcony. The building is heated by a modern gas-fired combination boiler. To the front is a gated car park for several cars.
Guardians Apartment
This small apartment is part of the church building and is accessed at the rear of the building off Person Street. This property is let under a guardian license at £450pcm including bills. The heating is run from the church boiler.
The accommodation includes: Hall, WC, Kitchen, Living Room, Bedroom, Bathroom. Enclosed garden and off-street parking for several cars.
35 Spring Street, Hull
A semi-detached three-bedroom house currently let on an AST at £550pcm. The fully double glazed and gas centrally heated property briefly comprises:
Ground Floor: Entrance hall, kitchen, lounge.
First Floor: Landing, three bedrooms (one with en-suite shower room), family bathroom.
Outside: Front and good sized rear garden.
37 Spring Street, Hull
A semi detached three/four bedroom house currently let on an AST to a long term tenant at £550pcm. The fully double glazed and gas centrally heated property briefly comprises:
Ground Floor: kitchen, lounge. WC, inner hall, dining room/bedroom4
First Floor: Landing, three bedrooms. family bathroom.
Outside: Front and good sized rear garden.
Services
All mains services are connected but have not been tested.
Viewing:
Strictly by appointment with Auction House Hull & East Yorkshire. Driffield Office 0845 400 9900
Additional Fees:
The purchaser will be required to pay an administration charge of £750 (£625 plus VAT) and a buyers premium of £480 (£400 + VAT) in addition to the purchase price of the property. Please see the legal pack for any disbursements that may become payable by the purchaser on completion.
Tenure: Freehold
Possession: The property is sold subject to the existing tenancy agreements, copies of which will be available in the legal pack.
Solicitors: Pepperells Solicitors, 1a Kingston Road, Willerby, East Riding of Yorkshire, HU10 6AD
FTAO : Patrick Craft
Telephone: 01482 326446
Energy Performance Certificate TBC
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 09th May 2022 and closing on Wednesday 11th May 2022 at 3.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneers offices, with the solicitors and on-line at www.auctionhouse.uk.net/hullandeastyorkshire prior to the date of the auction.
Online Bidding
If you are wanting to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process:
youtube.com/watch?v=ImXr4HXR36c
