Property Brief
One-bed duplex apartment located in the heart of Hull's city centre. The first floor briefly comprises a living room and double bedroom whilst the first floor includes a kitchen and bathroom. The property includes a unique spiral staircase separating the two floors. Total flat size is 53 sqm.

Condition Report
The apartment is in good condition overall. There is a crack in the living room window and the staircase is loose. The vendor is looking into these issues and will resolve them before completion.

Rental Information
Current rent: £425 pcm (last increased in May 2023)
Market rent: £475 pcm
Tenancy agreement: Assured shorthold tenancy
Tenancy start date: August 2022

Leasehold Details
Term: 999-year lease starting on 1st January 2003
Service charge: £122.09 pcm
Reserve fund: £10.42 pcm
Ground rent: N/a

Comparables
A similar-sized but more modern 1-bed apartment listed for £90,000

Compliance
Electrical certificate (EICR): Test date February 2021
EPC rating: E (potential C)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £16,250
Stamp duty = £1,800
Broker fee (Est.) = £500
Solicitor fee (Est.) = £1,200
Ultralets fee = £1,800

Total = £21,550

Current yield is 7.8% (or 6.3% at market rent and accounting for leasehold costs).

Buyer Disclaimer
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