Adderbury Grove, Hull, HU5

Guide Price £100,000 - £110,000 plus Reservation Fee

An exciting development opportunity to acquire a freehold property currently arranged as two self-contained flats, with full planning permission granted to convert into a five-bedroom HMO with en-suite facilities. This versatile asset offers investors the option to refurbish and retain the existing layout or undertake a value-enhancing redevelopment to maximise returns.

At present, the property is configured as two separate flats. Once fully renovated, the estimated potential combined rental income is approximately £1,200 PCM (£14,400 per annum), providing a solid return for those wishing to operate the property as two units.

Alternatively, planning consent has been secured to convert the building into a five-bedroom House in Multiple Occupation, each bedroom benefitting from its own en-suite. The approved scheme presents a strong opportunity to significantly increase rental yield in a well-established letting location, particularly attractive to the professional and student rental markets.

The property is conveniently positioned just off Beverley Road, one of the main arterial routes into Kingston upon Hull city centre. The area offers a wide selection of local shops, supermarkets and amenities, alongside excellent public transport links, making it a consistently popular rental location.

This is a flexible investment opportunity with clear potential for enhancement and strong future income prospects in a well-connected and established area.

Key Features:

Freehold Development Opportunity
Currently Arranged as Two Self-Contained Flats
Planning Permission for Five Bedroom En-Suite HMO
Potential Rental Income £1,200 PCM (Post Renovation)
Approx. £14,400 Per Annum (As Two Flats, Once Refurbished)
Scope to Increase Yield via HMO Conversion
Popular Letting Location
Just Off Beverley Road with Excellent Amenities
Reservation Fee Applicable – T&C’s Apply
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Fees, Exclusivity & Disclaimer
Reservation Fee:
Upon acceptance of an offer, the Buyer is required to pay a non-refundable Reservation Fee of 2% of the purchase price (minimum £2,500 + VAT). This fee is in addition to the purchase price. Once paid, the property will be immediately taken off the market, preventing gazumping, reducing delays, and providing peace of mind.

Refund Policy:
The Reservation Fee may be refunded only in specific circumstances, such as:

The seller withdrawing from the sale
A chain collapsing beyond the Buyer’s control
Significant structural issues confirmed by a qualified structural survey

For full details of refund eligibility, please contact our office.

Exclusivity:
Upon payment of the Reservation Fee, Rezee grants the Buyer a fixed exclusivity period of 90 days from the issue of draft contracts. During this time, the property is reserved exclusively for the Buyer.

Buying Process:
Register your interest
Prepare your finances
Arrange a viewing
Make an offer
Secure the sale via our secure system
Exchange and complete

Important Information & Disclaimer:
A Ready Sale Pack containing detailed property information is available. Buyers are advised to review this pack and undertake their own due diligence before committing to purchase.
Buyers must verify their ID and provide proof of funds as part of our compliance process.
Rezee may offer related services (conveyancing, financial advice, surveying, etc.) and may receive referral fees from third-party providers.
While we take care to ensure sales particulars are accurate, they do not form part of any offer or contract and should not be relied upon as statements of fact.

Stamp Duty (SDLT):
Not all property purchases are subject to SDLT. Liability depends on factors such as purchase price and buyers position. Buyers should seek advice from a solicitor or tax adviser to confirm whether SDLT applies to their purchase and how much they would have to pay.

Rezee’s Approach:
Our innovative selling process provides a secure and transparent way to buy property, designed to protect all parties and reduce the risks of failed sales.