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236 Merton High Street, London, SW19 1AU
£875,000 Guide Price
Key features
Freehold Investment opportunity
Income Generating
Shops and amenities nearby
South Wimbledon Underground is at doorsteps
Wimbledon Overground train station is on 10 minutes on bus
Potential to purchase additional units
. FREEHOLD FOR SALE
Property Description:
Cribs Estates Proudly presents this investment opportunity for income-generating portfolio along with Existing AST/Lease tenants which means incoming will be coming from day first.
Situated within the London Borough of Merton, the property is well located on Merton high Street with few steps away from Collierss wood underground station. It is home to a number of restaurants and convenience stores including Burger king, KFC and big Sainsburys and 24 hours Tesco fuel pump.
This Property has 2 flats (1 bedroom and 2 bedroom) and 2 Cafe on ground floor. We have existing AST tenants with high rent who has been there for more than 2 years. There is 2 parking space which is also rented on with 1800 PA.
Along with flat we have one advertisement panel rented on 12,000 PA.
Total Rent for this property (Incl. ground floor shops, parking, and advertisement panel) is around 70kPer Annum
The Overall EPC Rating is E.
Flat-1
Annual Rent: 10,800
Flat-2
Annual Rent: 21,600
Cafe
Annual Rent: 10,200
Cafe 2
Annual Rent: 10,200
2 Parking Spaces
Annual Rent: 1800
Advertisement Panel
Annual Rent: 10,000
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.
236 Merton High Street, London, SW19 1AU
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