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383 Northolt Road,, Middlesex,, HA2 8JD
£625,000
The property comprises basement, ground and three upper floors to provide a ground floor betting shop with ancillary accommodation to the basement. The first and second floors comprise self-contained office accommodation, whilst the two areas of the third floor are separated they are accessed from either side of the second floor. We understand the upper parts were previously sub-let by the tenant, but are presently unoccupied. The property provides the following accommodation and dimensions:
Gross Frontage (Coral) 10.00 m
Net Frontage (Coral) 8.40 m
Shop Depth 8.75 m
Built Depth 14.60 m
Basement 34.35 sq m
First Floor 107.10 sq m
Second Floor 67.40 sq m
Third Floor (part) 26.30 sq m
Third Floor (part) Not measured
The property let to Coral Estates Ltd. with a guarantee from Coral Racing limited for a term of 15 years from 24th June 2009 at a current rent of 42,507.11 per annum. The lease provides for rent reviews every 5th year of the term and contains full repairing and insuring covenants.
Property is not occupied with current Tentans.
This property located in Redditch is located some 12 miles south of Birmingham and some 13 miles north-west of Stratford-upon-Avon and benefits from its proximity to both the M42 (Junction 2, 3.5 miles north) and M5 (Junction 5, 8 miles west) motorways.
The property is located on the North side of Unicorn Hill, close to its junction with the pedestrianised Market Place and Church Green West. Redditch Rail Station lies some 0.2 miles west of the property and the Kingfisher Shopping Centre is within close proximity.
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.
383 Northolt Road,, Middlesex,, HA2 8JD
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