This apartment is offered for sale with a long-standing tenant in situ. The rental is currently £440pcm.
On the first floor of a purpose-built development, this appealing 1 bedroom apartment is a short walk to the University of Hull, with plenty of amenities close by.
Positioned close to everything that Beverley Road and Newland Avenue have to offer, this well-proportioned living space is available at a fraction of the cost usually associated with apartments in this location. A low purchase price combined with small bills means that this property has been continually let. To investment buyers, the appeal is obvious.
The main entrance to the building is at the back and opens to an internal staircase extending to 2 separate apartments.
No. 5 is configured with a hallway linking each of the rooms within. A cupboard accessed from the hall provides an excellent storage option. The lounge is a great space to the front of the building with windows to the front and side and the kitchen is fitted with base units and an electric cooker.
To the back is a double bedroom and the bathroom has a full suite with an electric shower over the bath, a basin and a WC.
For a detailed exploration, please check out the Virtual Tour link!
Gascoigne Court is approximately 4km north of the Hull city centre, and a short drive from the Tesco Superstore on Beverley Road with easy access to Ennerdale Leisure Centre and the Kingswood Retail and Leisure Parks.
Other points of note:
Tenure : Leasehold
Council Tax Band : A
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 0 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 3 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £425k | 0(5)** | ||
| £425k to £625k | 5 | ||
| £625k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
Company Registration Number: 4179534
