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59 Coton Road, Nuneaton
£150,000 Offers over
Former Hot Food Takeaway suitable for other uses (S.T.P.P) in Hinckley Town Centre. The subject property is a town centre positioned former Hot food Takeaway within walking distance of a number of Bars and Nightclubs. Internally it comprises of an open plan ground floor takeaway area with rear preparation area. Off the main retail area are back of house stores, staff Wc with shower room, office (with separate pedestrian access from main road) and staircase leading to a stock/staff room. To the rear of the property is a rear yard, part paved giving parking for at least two cars back to back. The property is located close to The Crescent, the 100,000sq.ft development of retail and leisure units housing operators such as Sainsburys, Costa, Wildwood, TK Maxx, Cineworld, Simply Gym together with 550 car parking spaces. In close proximity to the unit is Papa Johns Pizza, Mark Jarvis Bookmakers, Scope and a number of independent family run retail and night-time economy businesses.
The property provides the following net internal floor areas- Ground Floor- Takeaway Sales Area- 788 sq.ft (73.21 sq.m) Stores/Staff Rooms- 209 sq.ft (19.42 sq.m) Staff WC facilities with shower First Floor- Stores/Staff room (exc restricted height sections)- 129 sq.ft (11.98sq.m) Net internal floor area- 1,126 sq.ft (104.61 sq.m)
Hinckley is a well-established market town with a population of around 55,000, located approximately 13 miles to the south-west of Leicester and approximately 15 miles north of Coventry. Hinckley is the second largest town in Leicestershire and is administered by Hinckley and Bosworth Borough Council. The town benefits from its proximity to the M1 and M69 Motorways and the M6 (via the M69) and has regular rail services to London and the north. The subject premises are located on The Horsefair, just off Regent Street in a commercial primarily retail, and office area of Hinckley close the towns largest shopping area, the Bus Station and a number of car parks. To approach the property by car, access is via Station Road with the property around halfway down The Horsefair on the lefthand side.
We are advised by the VOA website (www.voa.gov.uk) that the adopted rateable value of the property is 9,200.
The freehold of the property is offered with vacant possession.
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.
59 Coton Road, Nuneaton
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