Rezee says ..

Property Oracle says ..

This property is a large multi-unit building located on Beverley Road in Kingston upon Hull. The building consists of 25 bedrooms and 17 bathrooms, making it suitable for a variety of uses such as a HMO (House of Multiple Occupancy), student accommodation, or even a hotel.

The exterior of the building appears to be in decent condition, though some minor repairs and cosmetic work are evident. The internal photos, however, show signs of wear and tear, with several rooms needing modernising or refurbishment. This includes issues like outdated décor and finishes which impact the overall condition score negatively. The property offers a large number of bedrooms and bathrooms, making it a sizable asset; however, it is crucial to factor the required refurbishment costs into any potential purchase.

The property benefits from its location on Beverley Road, a main road with good transport links. Several schools are nearby, and the proximity to Hull city centre increases its potential value. However, the busy road location may be less desirable for some, influencing the overall assessment of the location.

In terms of land, the property has a very small amount of outdoor space, mainly consisting of a paved area at the rear of the building. This is a significant downside for many potential buyers. The lack of sufficient garden space is a major drawback.

The list price of £800,000 should be viewed cautiously. While a large property with the potential for rental income or other business opportunities, the cost of refurbishment is a large and potentially unknown factor which requires proper consideration. The comparatively high price needs to be carefully weighed against the costs of modernisation and potential rental yields if used as an investment property. A thorough survey and cost-benefit analysis would be essential before committing to a purchase of this magnitude. The price, as stated, is high, however, it can be justifiable, making the reasonable score quite high.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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