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£500,000 Guide Price
A Freehold development site that is situated in the village of Hunmanby that is believed to have permitted development for up to 10 dwellings. This L shaped site is approximately 0.81 acres (3,313 sqm) and access is available from Burlyn Road.
Location - The site is situated in the village of Hunmanby, which is approximately 3 miles southwest of Filey, 9 miles south of Scarborough and 9 miles north of Bridlington. The nearest town of Filey is a popular East Coast Holiday Resort on the North Yorkshire Coast and It is historically a fishing town but has enjoyed a reputation as being a seaside resort since Victorian days.The town is accessible by road, with the principal connection being the A165 Scarborough to Bridlington Road that then leads onto the A64, A1, M1 and M62. The town centre accommodates a small number of national retailers but is predominately occupied by small local traders.
The village of Hunmanby has a good range of amenities that include a co-op supermarket, a small number of pubs and restaurants, hair dressing salon, dentists and solicitors office.
This site is situated to the rear of Outgaits Lane and vehicular access can be gained from Burlyn Road.
The Site - L shaped site with a gross area of approximately 0.81 acres (3,313 sqm) currently used as grassland / extended gardens by the current owners who will fence off the remaining parcel of land that is currently open.
Tenure - Freehold.
Guide Price - We are seeking offers in the regions of, 500,000 for the land.
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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.
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