Property Brief
Portfolio consisting of eleven residential properties located in Hull, held under a mix of personal and limited company ownership. Of the eleven units, one is held in a single name, eight are held jointly, and two are held within a limited company of which both vendors are directors.

The portfolio comprises six freehold houses, one freehold bungalow, and four leasehold flats. Ten of the properties are currently tenanted, with the eleventh (1 South View) listed for let and expected to be tenanted shortly. The internal condition across the portfolio is fair to good with no immediate works required. The properties are currently managed by Ultralets. The portfolio includes:

Freehold
3 Frampton Close, Hull HU7 6BB (2-bed semi-detached bungalow) - £70,000
66 Whitehope Close, Hull HU7 5AL (2-bed end-terrace house) - £67,500
7 Leura Grove, Hull HU3 3SH (3-bed mid-terrace house) - £67,500
3 Holderness Villas, Hull HU9 5RQ (2-bed mid-terrace house) - £60,000
1 South View, Hull HU3 6NL (3-bed end-terrace house) - £75,000
3 Edmonton Villa, Hull HU9 5RG (2-bed mid-terrace house) - £60,000
17 Pitt Street, Hull HU3 6PN (3-bed mid-terrace house) - £72,500

Leasehold
24 Weymouth Close, Hull HU7 6AS (1-bed ground-floor flat) - £47,500
19 Pease Street, Hull HU3 2EW (2-bed second-floor flat) - £47,500
18 Kendal House, Hull HU3 2PE (2-bed top-floor duplex flat) - £47,500
56 Lindsey Place, Hull HU4 6AE (2-bed seventh-floor flat) - £47,500

Total portfolio price: £662,500

Rental Information
3 Frampton Close
Current rent: £475 pcm
Market rent: £550 pcm

66 Whitehope Close
Current rent: £520 pcm
Market rent: £595 pcm

7 Leura Grove
Current rent: £545 pcm
Market rent: £625 pcm

3 Holderness Villas
Current rent: £495 pcm
Market rent: £575 pcm

1 South View
Current rent: Vacant
Market rent: £625 pcm

3 Edmonton Villa
Current rent: £495 pcm
Market rent: £575 pcm

17 Pitt Street
Current rent: £595 pcm
Market rent: £625 pcm

24 Weymouth Close
Current rent: £475 pcm
Market rent: £495 pcm

19 Pease Street
Current rent: £495 pcm
Market rent: £495 pcm

18 Kendal House
Current rent: £495 pcm
Market rent: £495 pcm

56 Lindsey Place
Current rent: £485 pcm
Market rent: £495 pcm

Total current rent: £5,700 pcm
Total market rent: £6,150 pcm


Compliance
All properties within the portfolio fall under Council Tax Band A. Full compliance documentation is on file, with all Gas Safety Certificates (CP12) and Electrical Installation Condition Reports (EICR) currently in date. Regarding energy performance, nine properties hold an EPC rating of C, with the remaining two rated D; specific certificates are linked below. Leasehold information for the four flats is available upon request.

EPC rated "C"
3 Frampton Close
66 Whitehope Close
7 Leura Grove
3 Holderness Villas
3 Edmonton Villas
17 Pitt Street
24 Weymouth Close
19 Pease Street
56 Lindsey Place

EPC rated "C"
1 South View
18 Kendal House

Figures
Estimated upfront costs below:

Deposit = £165,625
Stamp duty = £22,625 (based on commercial rates due to purchasing 6+ properties)
Ultralets fee = £11,925

Total = £200,175 excl. solicitor and mortgage fees.

Current yield is 10.3% (or 11.1% at market rents).

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