Project Description

Location
The subject property is located on Airlee Street in the residential west side of Kingston Upon Hull
Hull is 25 miles north-east of Scunthorpe and 60 miles east of Leeds. Hull has been granted the highly coveted city of culture 2017.
Hull has recently become increasingly attractive to investors as it is currently undergoing major regeneration. As such companies including Seimens are locating to the area creating thousands of new jobs.
Description
The property was formerly a two bedroom end terraced property which has been converted to form two, one bedroom apartments.
Each flat comprises Living room, kitchen, bathroom and bedroom. The ground floor flat benefits from a fully enclosed rear garden.  The flats are individually assessed for council tax and for water rates, both of which are payable by the tenants, and each flat has separately metered gas and electric supplies.  Each flat is independently centrally heated and both boilers have been recently serviced and certificated.
Outside offers unrestricted on street parking.

Services
We understand the property is connected to mains gas, electric, water and drainer.

Tenure
The property is believed to be freehold
Investment Analysis
The house is sold with the benefit of sitting tenants, and both are long standing tenancies: two years in the case of the ground floor, and ten years for the first.  Rents are paid directly from the council in the case of flat 1, and by the tenant for flat 2. There would be potential to increase the rent, either from the current tenants, or potentially when either flat becomes vacant, and at present there is good demand for this type of let.
Council Tax
The properties are rated in Council Tax Band A. Council Tax payable (2016/2017) is £ p.a. These are payable by the tenants.
*Guide Price
£57,500

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

14 Airlee Street
Hull
HU3 3JD

Features

✓ Two one bedroom flats in terrace house conversion
✓Currently let at £7,280 pa representing a gross yield of 12.6%
✓In an area of high demand for rental property.
✓Long term tenants in situ
✓Garden to ground floor flat
✓Close proximity to amenities
✓Good transport links

Contact

Hayley Riley
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR257

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