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56 Market Place, Driffield, YO25 6AW
£199,500 Guide Price
DESCRIPTION
52 Market Place occupies an excellent position in the centre of the busy Market Town of Driffield. The property has recently been refurbished and provides a well presented, extensive and accessible retail area at ground floor with offices and storage at first floor.
There are 2 separate accesses into the rear of the building as well as a separate metered electricity supply to the ground and first floors. In addition, there are separate wc facilities on both floors providing the opportunity for the building to be used by different occupiers.
The property also has the benefit of a yard to the rear with vehicular access from Market Place.
52 Market Place is currently occupied as a shop but also lends itself to other uses, subject to the necessary consents.LOCATION
Driffield is a popular market town on the Yorkshire Wolds and includes a number of national retailers including Boots, WH Smith, Iceland and Tesco, as well as a number of large regional retailers and smaller independent traders. 52 Market Place is located on Market Place which is the main retail area in the town.
ACCESS
The property has excellent frontage to Market Place together with two separate pedestrian accesses into the rear of the property. There is a vehicular right of way to the rear yard which is shown for illustration purposes by an arrow on the plan included within these particulars.
ACCOMMODATION
The accommodation extends in all to around 2,409 sq ft (223 sq m) or thereabouts and comprises:
Ground Floor:
Retail Area with glazed frontage onto Market Place
Rear Entrance Hall with Kitchenette & WC
Rear Entrance Hall with Stairs to
First Floor:
Storage
Office
WC
EPC
EPC Rating of B. A copy of the Certificate and Recommendation Report is available on request.
RATEABLE VALUE
The property has a current rateable value of 8,800 which comprises the ground floor only. The first floor is not currently assessed for business rates and an application has been submitted to the Local Authority accordingly. Interested parties are advised to enquire as to the rates payable and any reliefs available by contacting the Local Authority.
SERVICES
Mains electricity, water and drainage are connected. As part of the refurbishment the property has been fully rewired including a hard wired fire alarm and security system. The rewiring allows for a new owner to install a CCTV system if required.
PLANNING
The property is located with the Driffield Conservation Area.
Planning enquiries in respect of the property should be directed to East Riding of Yorkshire Council, County Hall, Cross Street, Beverley, HU17 9BA. Tel: 01482 393939.
METHOD OF SALE
The freehold interest in the property is offered for sale by Private Treaty based on a guide price of 199,500.
Please note that the business is neither affected by nor included in the sale.
Interested parties should register their interest with Dee Atkinson & Harrison to be kept informed as to how the sale will be concluded. The Vendor reserves the right to conclude the sale by any other means at their discretion.
PLANS
The plans provided in these sales particulars and the areas stated are for guidance only and are subject to verification with the Title Deeds.
VAT
In the event that the sale of the property or any part of it or any right attached to it becomes chargeable for the purposes of VAT such tax will be payable in addition to the purchase price.
VIEWINGS
Strictly by appointment with Dee Atkinson & Harrison on 01377 253151.
FURTHER INFORMATION
Samantha Mellor MRICS FAAV
T: 01377 253151
Details prepared: June 2023
Details amended: March 2024
NOTES
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
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.
56 Market Place, Driffield, YO25 6AW
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