AN EXCELLENT RESIDENTIAL INVESTMENT OPPORTUNITY CURRENTLY GENERATING OVER £39,000 PA GROSS INCOME. FURTHER DEVELOPMENT POTENTIAL WITH PLANNING CONSENT IN PLACE.

***SOLD NOW TAKING ENTRIES FOR OUR NEXT AUCTION 13th JUNE 2018 CONTACT US FOR FURTHER DETAILS*** Bedford Chambers is a former Solicitors chambers, located in the Old Town district of Hull which is the 2017 UK City of Culture. The four storey building has more recently been converted into residential accommodation and occupied as a high standard licenced HMO, although each of the seven flats enjoy accommodation that has its own kitchen and bathroom. Each flat is highly individual and offer character features as you would expect from a building of this type. In October 2016 planning consent was granted allowing its use as seven one bedroom self contained flats. Subject to various conditions, building regulation approval and separation of the services, the four storey building can now be further developed to enhance the appeal and rental/sale value by offering fully self contained apartments.

Tenure

We understand the property to be freehold (subject to confirmation by the vendor's solicitors in the legal pack). The property is sold subject to the existing tenancies

Income

Let as a HMO to mainly long standing and all working tenants, the property currently generates a gross total income of approximately £39,780 pa. A full schedule of rents and tenancies start dates are detailed below. The vendor informs us that the annual cost of providing gas fired heating, water and electricity for the building and council tax is approximately £7,000 pa giving a net rental income of approx. £32,800.

Planning Consent

Planning consent was approved (System Reference No. 16/00079/COU) on the 10th of October 2016 with conditions for the change of use of Bedford Chambers and the neighbouring property, Ruskin Chambers from a HMO into 22 apartments. Although some of the conditions have been met, some remain outstanding and it will be the responsibility of the purchaser to complete works on the subject property to the planning authorities satisfaction. The building could also be retained as a 10 bed HMO.

Viewing

Strictly by appointment with Auction House Hull & East Yorkshire on 0845 400 9900

Joint Agent

Dee Atkinson & Harrison 56 Market Place Driffield YO25 6AW 01377 241919

Services

All mains services are connected to the property. None of the services or installations have been tested.

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Hull City Council

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £600 inc VAT (£500 + VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.