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63, Wigan, WN2 3AE
£150,000
TENANTED COMMERCIAL PREMISES WITH A VACANT FLAT ABOVE
THE CURRENT TENANT OF THE SALON PAYS 750 PCM AND THE LEASE IS IN PLACE TILL JUNE 2027
THE FLAT COULD ACHEIVE A RENT Of 650PCM ONCE RENOVATED
POTENTIAL YIELD OF OVER 11%
Located in the vibrant area of Pemberton, Wigan, this commercial/residential property on Ormskirk Road offers a prime opportunity for buy to let investors. The property features a spacious interior layout, providing ample room for business needs.The interior is well-lit with large windows that allow natural light to flood the space, creating a welcoming atmosphere. The flooring throughout the property is a mix of laminate and carpet, providing a practical and comfortable environment.
The surrounding area is well-served by public transport, with bus stops conveniently located nearby. The property is positioned close to various local amenities, including shops, cafes, and other businesses, contributing to the vibrant community atmosphere.
Overall, this commercial property on Ormskirk Road presents a versatile space with great potential for a variety of business uses. Its strategic location and functional layout make it a valuable opportunity for entrepreneurs and established businesses alike.
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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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