Property Brief
A unique opportunity to purchase a property in Beverley with 9% yield, a significant jump from the average yields of 4.5%-6% typically found in the area!

End-terrace, freehold property consisting of two self-contained one-bed flats with separate entrances. Flat 1 is situated on the ground floor and Flat 2 on the first floor with both sharing access to a small courtyard to the side of the property.

Both units are gas central-heated with split utilities and no landlord meters. Tenants are responsible for all utility costs.

Condition Report 
Both flats are in good condition throughout, with the overall building structure also appearing to be in good order.

General Information
Flat 1
Size: 49 sq m
Current rent: Vacant
Market rent: £595 pcm
Tenancy start date: N/a

Flat 2
Size: 51 sq m
Current rent: £525 pcm
Market rent: £595 pcm
Tenancy info: Tenancy started approx. 7 years ago. Working tenant with no history of arrears.

Comparables

Two recently sold properties on Holme CHurch Lane in similar condition. The property on the left sold for £155,000 whilst the property on the right's sale price is currently unknown. 

Both properties are significantly smaller than 130 Holme Church Lane at approx. 83 sq m and 72 sq m respectively.

Compliance
Apt 1
Electrical certificate (EICR): Test date April 2022
Gas certificate: Test date August 2025
EPC Rating: D (66), potential C (74)
Council Tax Band: A

Apt 2
Electrical certificate (EICR): Test date TBC
Gas certificate: Test date TBC
EPC Rating: D (58), potential D (63)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £37,500
Stamp duty = £8,000
Ultralet's buyer fee = £2,700

Total = £48,200 (not including solicitor / mortgage arrangement fees)

Yield of 9% once flat 1 is tenanted (or 9.5% if rents for both units are at market rate).

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