This individual detached bungalow is a project for development in a well regarded and established part of this popular and historic market town. Built probably around 85 - 95 years ago and offering almost 700 sq ft/65 sq m of single storey accommodation the building is now in need of a comprehensive programme of repair and renovation. Considerable potential exists for redevelopment of this property, subject to any required planning permissions being available. The plot has a frontage of approximately 39 6" / 12m including a side driveway access, front and rear gardens which are also in need of attention.
LOCATION
Woodhall Way leads into central Beverley from the Molescroft district on the northern edge of the town and the property is just over half a mile from Saturday Market Place and the main shopping area with cafes and restaurants in abundance. The town has a wide range of sporting and recreational amenities, the Westwood common pastures including both golf and race courses are just half a mile walk. St Marys Primary school is less than 200m distance from the property.
ACCOMMODATION (all ground floor)
Entrance Hall, Lounge, Dining Room, Kitchen, 3 Bedrooms & Bathroom/WC
SERVICES
Mains water, electricity, gas and drainge are connected to the property. Gas fired radiator central heating is installed. 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 currently shown as listed in Council Tax Band C.
TENURE
Freehold. Vacant possession upon completion.
VIEWINGS
Strictly by appointment with the auctioneers on 01482 866844.
SOLICITORS
Williamsons, 45 Lowgate, Hull, HU1 1EN. Tel: 01482 323697.
METHOD OF SALE
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 9th 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.
GUIDE PRICE
*Guides are provided as an indication of each sellers minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
ADDITIONAL FEES:
Additional Fees (Including VAT):
Administration Charge -The purchaser will be required to pay an administration charge of 0.3% inc VAT of the purchase price subject to a minimum of £750.00 (£625 + VAT).
Buyers premium - The purchaser will be required to pay an buyers premium of £480 (£400 plus VAT) in addition to the purchase price of the property.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
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
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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