This property is no longer on the market
2 bedroom house
Key information
Property description & features
- Tenure: Leasehold (82 years remaining)
- Sale by online auction
- Closes 1pm 13 February 2024
- Residential investment
- £7,200 pa gross rent income
- 2 bedroomed cottage
- Molescroft location
- About a mile from town centre
For Sale by Online Auction on 13th February 2024 - Guide Price £50,000
DESCRIPTION
This two bedroomed cottage represents an excellent opportunity to acquire an investment property in this well regarded market town. The property is let on an assured shorthold tenancy with a gross rental income of £7,200pa. It forms part of block of apartments in a desirable residential area on the edge of Beverley where surrounding homes are for the main part more substantially sized and valued. The property benefits from a communal garden and off road parking and has uPVC double glazing and electric heating. A buyer will have the option to take over an application for extension of the lease.
The Molescroft Mews building is located in the northern outskirts of Beverley at the junction of Driffield Road with Woodhall Way and has quick access onto the towns by-pass roads leading to Hull, York, Driffield and the east coast. The town is renowned for its highly regarded schools, play parks and sporting facilities including golf and horse racing courses on the Westwood common pastures. It is a little over a mile into the town centre and an array of shops, cafe bars and restaurants. There are also bus and railway stations.
ACCOMMODATION
Ground Floor: Lounge, Kitchen
First Floor: Bedroom 1, Bedroom 2, Bathroom with shower & WC
Services
Understood to be connected to mains electric, water, and drainage but the services have not been tested.
Tenure
Leasehold. The current lease has approx. 82 years to run with a current ground rent of £500 per annum. The seller has served a Section 42 Notice and the purchaser will have the option to extend the lease for a further 90 years, with the ground rent reduced to zero, for a further consideration of £24,450 plus Section 60 costs . Service charges are currently £330.19 per quarter. Full details of the lease are available in the legal pack.
Council Tax Band
Council Tax is payable to the East Riding of Yorkshire Council. The property is shown on the Council Tax Property Bandings List in Valuation Band A.
Viewing
Strictly by appointment with the Auctioneers on[use Contact Agent Button]
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 12th February 2024 and closing on Tuesday 13th February at 1.00pm. 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 auctioneer’s offices, with the solicitors and on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.
Solicitors
Hetts Solicitors, 11 Wells Street, Scunthorpe, DN15 6HW[use Contact Agent Button] [use Contact Agent Button]
Additional Fees
The purchaser will be required to pay an administration charge of £900 (£750 plus VAT) and a buyer’s premium of £900 (£750 plus VAT) in addition to the purchase price of the property.
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.
Disbursements
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Online bidding
If you want 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
Places of interest
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*DISCLAIMER
Property reference dah_1808308280. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Dee Atkinson & Harrison - Beverley.
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Broadband availability and predicted speed: obtained from Ofcom on December 17, 2021
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on December 22, 2021
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area: obtained on September 28, 2021 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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