Wellesley Avenue, Hull, HU6

***Guide Price £240,000 - £250,000 plus Reservation Fee***

Discover a lucrative investment opportunity with this five-bedroom House in Multiple Occupation (HMO), boasting two bathrooms and a rich historical usage predating Article Four planning restrictions. With a gross annual rent of approximately £28,000, this property offers an impressive gross yield of approximately 11.6%, making it an attractive option for savvy investors.

Prime Location: Situated in a popular student area just off Beverley High Road, this property enjoys easy access to the university and a host of amenities, making it an ideal choice for student accommodation. Its convenient location ensures high demand and consistent rental income potential.

Spacious Accommodation: Offering five generously sized bedrooms and two bathrooms, this property provides ample living space for tenants. With its functional layout and comfortable amenities, it presents an inviting living environment for students or professionals alike.

Historical Usage: With a usage history predating Article Four planning restrictions, this property offers a unique opportunity for investment, providing stability and potential for future growth.

Ideal Investment: With its impressive rental income and desirable location, this property represents an ideal investment opportunity for those looking to capitalize on the thriving rental market. Don't miss out on the chance to secure a lucrative addition to your portfolio in this sought-after area.

Schedule a Viewing: Arrange a viewing today to explore the potential of this HMO property and seize the opportunity to generate substantial rental income in a prime location.

Licensing and Planning Permission

This property falls within an Article 4 area. We have been informed by the owners they can provide rental history dating back to 2006.

The owners have provided a HMO license until October 2023 and have informed us they are in the process of obtaining a new HMO license with Hull City Council.  Please note, a new owner will need to apply themselves for a new HMO license as this is not transferable.

**Fees, Exclusivity, and Disclaimer:** 

**Fees:** 

**Reservation Fee:** Upon acceptance of an offer, the Buyer is required to pay a non-refundable Reservation Fee of 2% to a minimum of £2500 plus VAT. The Reservation Fee is paid on top of the purchase price. This reservation fee ensures that the property is taken off the market as soon as a sale is agreed, eliminating gazumping, time wasting, and financial loss. 

The Reservation Fee can be refunded under certain circumstances; 

i.e the seller deciding to pull out, a chain collapsing or structural issues verified by a structural survey. For more information on what would qualify for a refund then please speak to the office 

**Exclusivity:** 

Following the payment of the reservation fee, Rezee will facilitate a fixed exclusivity period of 60 days from draft contracts being issued. During this time the property will be reserved, so there will be no risk of gazumping. 

**Process:** 

Our process: 

1. Register your interest 

2. Prepare your finances for the purchase 

3. Arrange a viewing 

4. Make an offer 

5. Secure your sale using our secure system 

6. Exchange and complete 

**Disclaimer:** 

The property has a Ready Sale Pack, which gives additional information regarding the property. It is the Buyer’s responsibility to request & examine the Ready Sale Pack before committing to purchase the property. We advise you also carry out your own due diligence prior to making an offer. 

The Buyer is required to verify their ID & show proof of funds. 

Rezee offers additional services, such as conveyancing, financial advice, surveying & other services associated with selling & buying a property. Rezee may receive a referral fee for these third-party services. 

We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact.

Stamp Duty, It's important for buyers to understand that not all property purchases incur Stamp Duty Land Tax (SDLT). Certain exemptions and thresholds exist, which may mean that some buyers won't have to pay SDLT at all. However, the specifics can vary based on several factors such as the purchase price, the buyer's circumstances and seller’s circumstances. To determine whether SDLT applies to their purchase and to understand the amount they may be required to pay, buyers are encouraged to seek advice from a solicitor. 

Rezee innovative way of selling is a secure and straightforward way to buy property. 

Please note: to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.