Spring bank West, Hull

Freehold Investment Opportunity – Two Self-Contained Flats
Guide Price £130,000 - £140,000 plus Reservation Fee

A fantastic opportunity for landlords and property investors to acquire this freehold building comprising two self-contained residential flats, both currently occupied. The property offers the benefit of two separate rental streams, with each apartment estimated to achieve between £500 and £600 PCM, giving a combined potential rental income of approximately £1,000–£1,200 PCM, or £12,000–£14,400 per annum, before associated costs.

The ground floor apartment provides spacious and practical accommodation, comprising two bedrooms, a generous reception room, fitted kitchen and bathroom. The property also benefits from access to a private, low-maintenance rear garden, providing valuable outdoor space for the occupant.

Located above, the first-floor apartment offers similarly well-proportioned accommodation with two bedrooms, fitted kitchen and bathroom. Both properties provide straightforward and practical layouts, making them well suited to the rental market and giving an investor the benefit of two independent income-producing units within one freehold property.

Both flats are currently tenanted, offering an investor the potential for rental income from completion, subject to the terms of the existing tenancies. There may also be potential to review the rental levels in the future, subject to market conditions, tenancy agreements and the relevant legal requirements.

The property is conveniently positioned for good transport links into and around the city, with local amenities, employment opportunities and everyday facilities within easy reach. This established location should continue to appeal to a broad range of tenants.

With a relatively accessible entry price, freehold ownership and two separate residential units, this property provides an attractive proposition for an investor looking to add an income-producing asset to an existing portfolio or for those looking to take their first step into property investment.

Key Features:

Freehold building comprising two self-contained flats
Both apartments currently tenanted
Rent of £500–£600 PCM per flat
Combined estimated rental income of £1,000–£1,200 PCM
Potential annual rental income of £12,000–£14,400
Ground floor two-bedroom flat with rear garden
First-floor two-bedroom flat
Separate kitchens and bathrooms
Good transport links into and around the city
Excellent opportunity for landlords and property investors

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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 1.5% 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 greater certainty for the Buyer.

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

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 period, 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 through our secure system
Exchange and complete
Important Information & Disclaimer:
A Ready Sale Pack containing detailed property information is available. Buyers are advised to review the pack and carry out their own independent due diligence before committing to purchase.

Buyers must verify their identity and provide proof of funds as part of our compliance process.

Rezee may offer related services, including conveyancing, mortgage advice and surveying, and may receive referral fees from third-party providers.

Whilst every care has been taken in preparing these sales particulars, they do not constitute any part of an offer or contract and should not be relied upon as statements of fact. Buyers should satisfy themselves as to the accuracy of all information provided.

Rental Information:
The rental figures stated are estimated figures only and are not guaranteed. Prospective purchasers should make their own enquiries regarding the existing tenancy agreements, current rents, rental payment history, deposits, tenant arrangements and any applicable licensing requirements before proceeding.

Stamp Duty Land Tax (SDLT):
The amount of Stamp Duty Land Tax payable will depend upon the purchase price and the individual circumstances of the purchaser. Buyers should seek independent advice from their solicitor or tax adviser to establish whether SDLT is payable and the amount due.

Rezee's Approach:
Our innovative selling process is designed to provide a secure and transparent way to buy property, helping to reduce the risk of failed transactions and providing greater certainty for both buyers and sellers.