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£1,650,000 Guide Price
The Approval
Planning permission has been granted to alter and extend this imposing building to create 8 x 2 bed and 7 x 1 bed and 1 x 3 bed apartments (Total 16).
The Current Site
A characterful locally listed building which will be offered with vacant possession.
The topography of the site is such that you gain far-reaching views of the river and beyond from the rear. Also to the rear is a nature reserve which runs along the back of the houses.
Location
The development is situated in a convenient location for local amenities including Erith Town Centre which contains the Erith Riverside Shopping Centre.
Erith and Belvedere Mainline Stations provide links to central London and The Elizabeth Line can be accessed via Abbey Wood.
Southmere Park and Franks Park are nearby for green space
Viewings
Internal viewings are not currently available as there is a tenant in situ, however photos can be provided.
Available Upon Request:
Brochure
Internal Photos
Sellers GDV
Schedule of accommodation
Link and ref to planning documents
Approval with Conditions
Design & Access Statement
CIL Document
Approved Plans
Legal Agreement
Contact the team at Allen Heritage for further information
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.
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