A well known, high profile shop premises, located on one of the town's busiest arterial roads which is also a very popular residential area. The property is presented in excellent condition having been refurbished and well maintained in recent years. The property is mainly double glazed and both elements are gas centrally heated with separate boilers. It comprises of a ground floor shop premises that have, for many years, been a popular Hair Salon, but could also lend itself to a variety of other uses (subject to any necessary planning consents). The first and second floors provide a self-contained two-bedroom apartment and to the rear is a pleasant garden and large shed. Offered with vacant possession and no upward chain. **PART EXCHANGE CONSIDERED**
Location
Situated close to the corner of Scarborough Road and Gibson Street, only a short walk from the town centre, schools and all main facilities. Driffield is a traditional established market town that earned its title as Capital of the Wolds by virtue of its central position within the county. The larger towns of Bridlington, Beverley and Malton and cities of York and Hull are within easy travelling distance either by road, rail or bus.
Accommodation
Ground Floor
Main Salon
With a double frontage of approx. 17'6" and providing approx. 340 sq ft of retail/sales space. Three double radiators and two sinks.
WC
With low level WC and pedestal wash hand basin. Extractor fan.
Kitchen/Staff Room
With sink, cupboards, drawers and work surfaces. Breakfast bar, double radiator, rear entrance door and wall mounted gas fired combination boiler.
Outside
Fully enclosed rear garden, utility room with plumbing for a washing machine, large garden shed 21'1" x 8'7" with patio door and PVCu double glazed window.
First Floor Apartment
Approached from a metal external fire escape staircase.
Hall
With boiler cupboard housing the gas fired combination boiler. Laminate flooring and door leading to the enclosed staircase to the second floor.
Kitchen/Living Room
With a modern fitted kitchen including base and wall units, stainless steel sink with mixer tap, integrated appliances including, fan oven, four ring ceramic hob with extractor over, fridge, freezer and automatic washing machine. The kitchen is open plan to the living area with double radiator, ornamental fireplace and TV aerial point.
Bedroom one
With double radiator.
Second Floor
Bedroom two
With double radiator and a Velux window.
Shower Room
With larger shower cubicle, dual flush low-level WC, pedestal wash hand basin, heated towel rail, extractor fan and inset ceiling spotlights.
Tenure
Freehold with vacant possession.
Part Exchange
The vendor will consider a part exchange on this property with a residential property of lower value. Anyone who feels this would be an option that would work for them should speak directly to the selling agent.
Services
All mains services are connected. There is only one supply into the building.
Viewing
Strictly by appointment with the sole agents.
Council Tax/Business Rates
The apartment is currently listed as being in council tax band A
The shop premises are assessed for business rates with the current rateable value of £3,350.
Tenure : Freehold
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 |
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