This substantial semi-detached property will suit those looking to create a high yielding investment. Taking up the entire ground floor, Flat 1 is currently a shell and could be developed to create a three bedroom apartment. The remainder of the building is divided into 4 x studios, a one bedroom flat and has further space on the first floor to create another income generating unit. The property is currently let to a charity who pay the landlord direct and occupy the units with people they are assisting/supporting. Three of the units are let and, with further development, there could be the potential to generate in excess of £25,000 per annum. The local council have provided a schedule of works deemed necessary for the continued letting of the building (see legal pack). Buyers should be aware that there is currently a dispute between the seller and the charity. Please see legal pack for further information.

Tenure

Freehold

Ground Floor

Communal hall, Flat 1.

First Floor

Landing, Flat 2, Flat 3, Room.

Second Floor

Landing, Flat 4, Flat 5, Flat 6.

Externally

Yards to the front and rear.

Charges and Payments

In addition to the deposit Administration Charge: 0.6% inc VAT of the purchase price subject to a minimum of £900.00 inc VAT. Search Fees: £200 Inc VAT For more details please see the legal pack.

Energy Efficiency Rating (EPC)

Current Rating Please refer to legal pack

Local Authority

East Riding of Yorkshire Council

Additional Fees

Administration Charge - See above

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