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63, Wigan, WN2 3AE
£300,000
LOCATION
The property is situate in a prime location fronting onto the main High Street in the heart of Standish village with high profile kerb appeal and visibility for both pedestrians and passing traffic.
DESCRIPTION
The property, which has been extended, offers accommodation over two storeys with a large rear area currently laid with gravel, suitable for further extensions and with the potential for car parking, subject to access being agreed from either of the adjoining properties in the future.
The ground floor is currently used for commercial purposes, whilst the first floor is currently not in use but offers the potential for residential usage subject to the reinstatement of a staircase. As this was its original use planning consent should not be required although it would be prudent for interested parties to confirm this with the Local Authority prior to any work commencing.
Overall this commercial property presents a valuable opportunity for businesses looking to establish themselves in a thriving area with excellent transport links and a supportive local community.
GROUND FLOOR
Front Office/Reception (213 x 148.5) Double glazed display windows, radiator
Middle Office (213 x 154) Double glazed window, two radiators
Kitchen (142 x 96) Wall and base units, 11/2 sink unit, electric oven and grill, electric hob, combination boiler, partially tiled walls, double glazed window
Access space rear door to outside area
Downstairs WC
Rear Office (220 x 79) Double glazed window, strip lights, radiator
FIRST FLOOR
Although not in use, the first floor area mirrors the overall total floor space of the ground floor.
TENURE FREEHOLD
SERVICES
The mains services connected to the property include water, gas, electricity supply and mains drainage.
EPC
The property has an EPC score of D 79. A full copy of the report can be made available on request.
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Map location is not available for this property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
63, Wigan, WN2 3AE
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