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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 let to a charity and is generating an income of £16,320 per annum. The charity pays for the rooms, regardless of whether they are occupied. With further investment/development, there may 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). We regret that no viewings will be taking place at this property prior to the auction. ACCOMODATION 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 & 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 Disbursements: Any additional disbursements payable by the purchaser are yet to be confirmed by the vendors solicitor. For more details please see the legal pack. Guide Price Guides are provided as an indication of each seller's 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.

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.

Local Authority

East Riding of Yorkshire Council

Important Notice to Prospective Buyers:

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

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.

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