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35 Ivor Place, Marylebone, London, NW1 6EA
£1,550,000 Guide Price
Bedrooms
Bathrooms
Reception
INVESTMENT - New to the market is this FREEHOLD end of terrace building in central West Hampstead, spread over 5 floors (2,202 sqft), comprising a ground floor COMMERCIAL UNIT, which is subject to a commercial lease (A3), and both RESIDENTIAL FLATS above.
Key Features
COMMERCIAL UNIT (ground and lower ground):
894 sqft of internal floor space, including a kitchen, storage space and toilets
Large covered forecourt on West End Lane, providing an extra 612 sqft of usable space
Commercial lease in place until 28th September 2033. Currently achieving 32,000pa. FRI, with 5-yearly rent reviews. ERV: 38,750pa
UPPER PARTS (two residential flats):
Rear front door access to both flats
First floor 1-bed flat (518 sqft), offering a bedroom, bathroom, kitchen and reception room
Top floor duplex 3-bed flat (745 sqft), offering 3 bedrooms, bathroom, kitchen and a top floor reception room with roof terrace
New Home: Non New Home
Maximum Area (in sq ft) 2202 sq ft
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.
35 Ivor Place, Marylebone, London, NW1 6EA
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