Guide price reduced by £10,000 - A residential investment property in the highly regarded Molescroft area of Beverley with a gross rental income of £7,200 per annum. 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. Accommodation Ground Floor Lounge, Kitchen First Floor Bedroom 1, Bedroom 2, Bathroom with shower & WC 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 £257 per quarter. Full details of the lease will be available in the legal pack.

Location

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.

Energy Efficiency Rating (EPC)

Current Rating D

Services

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

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee

Disbursements - Please see Legal Pack for any Disbursements.

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