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£200,000 OIRO
Unit 7 Glenmore Business Park is a modern freehold commercial premises with a little over 1400 sq.ft forming part of a small mixed use courtyard on the edge of Churchfields Industrial Estate. The unit has been fully fitted out and insulated to modern building regulations standard with air conditioning on both floors that provide heating all year round. LED lighting throughout. The building has a 6Kwp solar PV system on the roof which generates free electricity during daylight hours and also benefits from the feed in tariff so there is an annual income from the electricity generated (available by separate negotiation). The unit has had minor first floor remodelling to create a dance studio but will be restored back to a carpeted office area. The ground floor has been altered to create a large reception area, kitchen/staff room, two WCs (one with shower enclosure).
Glenmore Business Park is located within walking distance of Salisbury and the mainline railway station. There are three allocated parking spaces.
TENURE AND SERVICES: Freehold.
BUSINESS RATES: Rateable Value TBC
LOCAL AUTHORITY: Wiltshire Council
PLANNING: Prospective purchasers must satisfy themselves to the permitted planning uses for the premises.
LEGAL COSTS: Each party will be responsible for their own legal costs.
DIRECTIONS: From the centre of Salisbury, proceed along Fisherton Street to the mini roundabout and exit left along South Western road towards the railway station. At the mini roundabout turn left on to Mill Road followed by the next turning right into Churchfields Road. Follow the road and take the first turning left into Stephenson Road followed by the third turning on the right into Telford Road. Take the next turn on the left into Stanley Court., follow the road and take the fourth turning on the right hand side. Unit 7 can be seen on the right hand side as you enter.
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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