Property Brief
One-bed duplex apartment located in the heart of Hull's city centre. The first floor briefly comprises a living room and double bedroom whilst the second floor includes a kitchen and bathroom. The property includes a unique spiral staircase separating the two floors. Total flat size is 53 sqm.

Condition Report
The apartment is in good condition overall however, there is a small crack in a living room window and the internal staircase is loose.

Rental Information
Current rent: £475 pcm (last increased in April 2024)
Market rent: £575 pcm 
Tenancy agreement: Assured shorthold tenancy
Tenancy start date: August 2022

Leasehold Details
Term: 999-year lease starting on 1st January 2003
Service charge: £158.71 pcm
Reserve fund: £6.94 pcm
Ground rent: N/a

Comparables
A similar-sized but more modern 1-bed apartment listed for £90,000

Compliance
Electrical certificate (EICR): Test date February 2021
EPC rating: E (potential C)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £13,750
Stamp duty = £2,747.50
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,200

Total = £18,192.5

Current yield is 10.4% (or 8.9% at market rent and accounting for leasehold costs).

Buyer Disclaimer
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To speak to our in-house Mortgage Advisor, call the office on 01482 562562 and ask to speak to Jack Newton.