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56 Market Place, Driffield, YO25 6AW
£240,000 Guide Price
Location
The property is situated in a prominent location off Skerne Road which is a mixed residential and commercial location within walking distance of the Town Centre. Driffield offers an outstanding array of amenities, including shops, restaurants, public houses, quality sports facilities dedicated to Rugby, Golf, Football, Bowls, Cricket and many others, as well as a very highly regarded Secondary School. It also provides excellent road and public transport connections to Hull, Beverley, Bridlington and Scarborough.
Accommodation
Showroom/trade Counter 1,610 sq ft (150 sq m)
Workshop 620 sq ft (57 sq m)
Office/Kitchen
WC
Workshop 580 sq ft (54 sq m)
Mezzanine Storage 1610 sq ft (150 sq m)
Outside:
There is a secure yard to the side and rear with perimeter fencing.
Heating:
The property has a biomass heating system that is located in the first-floor mezzanine area.
VAT
VAT will be payable in addition to the purchase price.
Business Rates
The property has a rateable value of 17,500 (increasing to 20,000 in April 2026.
Tenure
Freehold with vacant possession on completion.
Services:
Mains water, electricity and drainage are believed to be connected but have not been tested.
Viewing
Strictly by appointment with the sole agents on 01377 241919.
Map location is not available for this property.
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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