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25a West Street, Kent, ME10 1AL
£1,050,000
Rare Development Opportunity Planning Granted for 28 Residential Units
An exceptional opportunity to acquire a prominent site in a sought-after residential area. Formerly a public house, the property benefits from full planning permission (Ref: 20/503636/FULL) for the development of 28 residential units, in addition to a flexible retail space (Use Class A1, A3 or A4) which has already been sold on a long lease to a popular supermarket chain.
Residential Development Overview:Conversion and Extension of Existing Building:
5 Two-bedroom apartments
14 One-bedroom apartments
1 Studio apartment
New Build to Rear of Site:
7 Two-bedroom apartments
1 One-bedroom apartment
The scheme includes appropriate parking for all units as well as landscaped communal areas, ensuring a well-rounded and attractive living environment for future residents.
Please note: This property may be subject to VAT, though assistance can be provided with reclaiming if required.
For further information or to discuss your interest, please contact Family Homes on 01795 473434.
In accordance with the Estate Agents Act 1979, we disclose that a personal interest exists in 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.
25a West Street, Kent, ME10 1AL
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