Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£1,000,000
The property comprises a newly refurbished ground floor retail unit extending to approximately 302.12 sq m (3,252 sq ft), forming part of an attractive mixed-use development in the popular seaside town of Whitstable. The unit is let to Greggs Plc on a new 10-year full repairing and insuring lease commencing 10 days after practical completion (anticipated July 2025), at a rent of 65,000 per annum. The lease includes a tenant-only break option and an open market rent review at the end of year 5, with a 9-month rent-free period covered by the vendor. This investment offers a secure and long-term income stream from a 5A1 covenant tenant, with minimal management responsibilities. Whitstable is a highly desirable retail and leisure destination, benefiting from strong year-round trade and significant tourist activity. The property is offered at a guide price of 1,000,000, reflecting an attractive net initial yield of 6.1%. This is an excellent opportunity to acquire a newly refurbishe
The property comprises a newly refurbished ground floor retail unit extending to approximately 302.12 sq m (3,252 sq ft). The unit offers well-configured, open-plan retail space with excellent frontage onto High Street, providing strong visibility and footfall
Whitstable is a vibrant seaside town on the north Kent coast, known for its independent shops, restaurants, and strong visitor economy. The property occupies arguably a prime position on the High Street, offering excellent visibility and footfall. 7 miles north of Canterbury. Regular rail service to London St Pancras and Victoria. High demand from occupiers.
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.
The Property has been saved to your favorites
/ 5
It's quick and easy
