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63, Wigan, WN2 3AE
£140,000
COMMERCIAL PREMISES FOR SALE - HIGH STREET LOCATION - PLENTY OF PASSING FOOT FALL - POTENTIAL FOR SELF CONTAINED LIVING ACCOMODATION ON THE FIRST FLOOR - REAR YARD
RENTAL POTENTIAL:-
FOR THE WHOLE BUILDING AS IT IS NOW QOULD BE 1200 PCM
IF THE SECOND FLOOR WAS CONVERTED A ONE BED FLAT IT WOULD ACHIEVE 550 PCM, IF IT WAS A 2 BED FLAT IT WOULD ACHIEVE 600PCM
THE GROUND FLOOR SHOP ALONE WOULD ACHIEVE 750 PCM
Situated in the Springfield area of Wigan, this commercial property on Park Road presents a practical opportunity for business ventures. The property comprises several rooms that can be adapted to various commercial uses. The kitchen area is equipped with basic fittings, providing a space for staff amenities or additional storage. Bathroom facilities are available, ensuring convenience for staff and visitors.Ground Floor - Commercial Premises
Main Room (15'3" x 14'8") - Two large display windows with shutters, laminate flooring.
Room Two (8'6" x 7'4") - Power points, lighting.
Room Three (8'9" x 7'4") - Power points, lighting.
Area Four (8'8" x 5'6") - Laminate flooring, radiator.
Kitchen (8'8" x 7'7") - UPVC double glazed window, fitted with wall and base units, work tops, sink unit, partially tiled walls, laminate flooring.
WC - UPVC double glazed window, hand wash basin, WC, partially tiled walls.
First Floor - Potential For Self Contained Living Accomodation
Landing
Lounge (15'4" x 14'3") - Two UPVC double glazed windows, two radiators.
Bedroom One (15'2" x 9'8") - UPVC double glazed window, laminate flooring, radiator.
Kitchen (12'4" x 8'9") - UPVC double glazed window, fitted with wall and base units, work tops, sink unit, plumbed for a washing machine, laminate flooring, radiator.
Shower Room - UPVC double glazed window, shower unit, WC, combination boiler, WC, partially tiled walls.
Exterior
Yard - Rear yard, flagged with gated access.
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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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