Studio flat in Cogan Chambers, Exchange Court, Hull, HU1 1DB (ref: 305_258319)

INVITING OFFERS BETWEEN £70,000-£75,000

Nestled in the heart of Hull’s historic Old Town, Cogan Chambers beckons with its distinctive charm and a prime location behind the famous Bowlalley Lane.

Agent’s perspective:

Step into a world of character and investment potential with this unique studio apartment. Offering a 999-year lease, this property presents an opportunity with no chain attached. The monthly service charge of £50 ensures a hassle-free ownership experience, and there’s no ground rent to worry about.

But that’s not all; this apartment is not just an investment but also a piece of Hull’s history. Situated in the heart of Hull’s Historic Old Town and part of the renowned Fish Trail, it embraces the city’s heritage. On top of that, secure on-street parking permits can be acquired through Hull City Council for an annual fee of £80, making city living that much more convenient.

The apartment comes with recent upgrades, including a modern kitchen and shower room. The kitchen has plenty of wall and base units for your storage needs inclusive of integrated appliances and the bathroom with a shower cubicle and fully tiled walls. All alongside recommended works that are already taken care of, including a new fire-rated consumer unit and all required safety testing. Not only does it hold investment potential, but it also showcases its ability to generate income. The most recent long-term rental revenue was £500 per month, and in the past, it performed even more impressively with short-term let revenue through Airbnb ranging from £900 to £1200 per month.

The sleeping level is accessible via a fixed staircase. Allows you plenty of room for your bedroom area.

For investors seeking versatility, the building’s lease allows for short-term rentals through platforms like Airbnb and Booking.com, expanding your options for income generation. Furthermore, the apartment’s location is a magnet for film companies, having been featured in notable productions such as Enola Holmes II, The Life and Times of David Copperfield, and The Last Laugh - a testament to its unique appeal.

Inside, the apartment offers modern comforts with engineered wood flooring, and original south-facing sash windows that allow plenty of light. The exposed feature brick wall and low-hanging pendants, along with wall lights, add character and ambience that you won’t find elsewhere.

Location

Hull's Old Town is within walking distance of The Deep, Humber Street, The Marina, and the City Centre with all its many amenities. With easy access to both A63/M62 motorway link and the east Hull villages via the recently regenerated Hedon Road. A main line train station is situated at the centre of the city which offers intercity facilities.

Tenure

The tenure of the property is leasehold.

Ground Rent: nil

Monthly Service Charge: £50

Length of Lease: 999 yrs (980 yrs remaining)

Council Tax

Council Tax is payable to the Kingston Upon Hull City Council. From verbal enquiries we are advised that the property is shown in the Council Tax Property Bandings List in Valuation Band A.*

Fixtures & Fittings

Certain fixtures and fittings may be purchased with the property but may be subject to separate negotiation as to price.

Disclaimer

*The agent has not had sight of confirmation documents and therefore the buyer is advised to obtain verification from their solicitor or surveyor.

Viewings

Strictly by appointment with the sole agents.

Mortgages

We will be pleased to offer expert advice regarding a mortgage for this property, details of which are available from our Newland Avenue office on 01482 343399. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

Valuation/Market Appraisal

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