investment in HU2

Somerscales Street, Hull, East Riding of Yorkshire, HU2 9PA

Current Bid
£75,000
Starting Bid £69,950
1 Bids
Sold

Online auction

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • 2 x Self-Contained Flats
  • Long Term Tenanted Investment
  • Generating £9,406.56 per annum
  • Tenanted until July 2024
  • Rent is guaranteed during tenancy

investment in HU2

FOR SALE BY AUCTION: Terms and conditions apply.

We are pleased to offer to auction the opportunity to purchase two self-contained flats (1 x 1 bedroom and 1 x 2 bedroom) which are currently tenanted and generating an income of £783.88 per calendar month, under a secured lease agreement until July 2024. This rent is guaranteed during the term and offers favourable lease terms for the Landlord. The property briefly comprises a communal entrance, communal hallway, internal door to Flat 1 and internal door to Flat 2. Each flat benefits from a fitted kitchen, bathroom, bedroom and lounge and the first floor has a second bedroom. The property also benefits from on street parking.

DISCLAIMER this property is leased as supported accommodation and the photographs used for marketing were taken at the start of the tenancy. The lease agreement confirms tenant damage is rectified at the cost of the tenant, Less FAIR WEAR AND TEAR. The photographs used for marketing the property were taken pre-tenancy, and may not reflect the current condition of the property, therefore we would strongly advise all interested parties physically view the property prior to making any offers.

Please note Pattinson Auction have not inspected this property.

Summary

  • Property Type: Investment
  • Tenure: Freehold
  • Parking: On Street

Location

The subject property is well located along 13 Somerscales Street, Beverley Road. This property is located within easy reach of local amenities, transport links and schools. The subject property is located approximately 8.7 miles from Beverley town centre and approximately 1.9 miles from Hull city centre.

Accommodation

The subject property briefly comprises 1 x 1 bedroom and 1 x 2 bedroom self-contained flats. Internally the flats benefit from a lounge, fitted kitchen, bathroom and bedroom(s).

The property is currently let on a secured tenancy until July 2024 with a passing rent of £783.88 pcm. The rent is guaranteed during the term of the tenancy.

Tenure

FREEHOLD. TITLE NUMBER: HS54328

EPC

Flat 1 - Available upon request (rating D).

Flat 2 - Available upon request (rating E).

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

This property is being sold subject to unconditional reservation fee auction terms and conditions.

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase. Legal Pack A legal pack is available to download. Special conditions may apply. We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property. The deposit is non-refundable.  Buyer Fees This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £5,000 + VAT (£6,000 inc VAT) This does not form part of the purchase price. A reservation fee is payable by the buyer where a seller has opted to sell with no fees.

As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable. More Information For more information call our auction experts on 0191 206 9335 or email auction@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:  

My bid may be accepted by the seller at any time before the close of the auction.  It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack. If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.  

At the point of registration, you will be required to insert credit or debit card details as a way of payment towards the deposit and or reservation fee. We will only hold a nominal amount (which will be stated at the point of bidding) to enable you to bid. This amount will only be debited from your account should you be the successful bidder, in the event you are unsuccessful the agreed amount will be released back to your card within three business days.  If you are the successful bidder we will debit the agreed amount from your account immediately at the close of the auction, we will then contact you to confirm the outstanding balance (if applicable) at which point you can opt to use the same card.  Any amount payable at the close of the auction must be paid within 1 hour.   

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second. 

Each auction will automatically stay open until there has not been a bid for 10 minutes. After 10 minutes without a bid, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last minute (or second) bidding and makes for a fairer auction as in a live room auction situation. 

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity. It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice. 

Minimum online bidding increments: 
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid 
£150,001 to £250,000 - £1,000 minimum bid 
​£250,001 to £750,001 - £2,500 minimum bid 
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions. 

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