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5 Bridge Street, Wisbech
£200,000
Bedrooms
Council tax band: C
C Carters are very pleased to present this commercial and residential mix perfect for investors the tenants in the retail unit have approx 7 years remaining on the lease paying 8400 per year, the studio flat is a great size in the valuers opinion and is in the process of being decorated. The flat will be advertised to rent at 500 per month giving an overall income of 14,400 per annum. Contact us now to arrange your viewing you will not be disappointed 01945 588111.
This retail unit is in a prime location of Wisbech with a studio flat above. Town centre location of Wisbech offers a good selection of amenities throughout the town and offers a very active rental market.
For navigational purposes please use PE13 1AT
Main Shop Area
14 7 x 7 4 (4.45m x 2.25m) Entrance door and full window across the front of the shop area. Light and power.
Kitchenette
15 3 x 7 4 (4.65m x 2.26m) Plumbing and space for washing machine. Door leading to side. Sink and drainer. Door leading to -
Cloakroom
Low level w.c. Wash hand basin.
Flat
Access for the flat is located to the side of the shop.
Entrance
Stairs leading to -
Open Plan Lounge/Bedroom and Kitchen
Lounge/ Bedroom
17 7 x 14 7 (5.38m x 4.46m) Two UPVC windows to front. Storage heater. Door leading to shower room.
Kitchen
4 8 x 6 7 (1.44m x 2.02m) Wall and base mounted units. Free standing electric cooker. Stainless steel sink and drainer. UPVC window to front. Extractor. Tiled splash backs.
Shower Room
10 0 x 6 2 (3.07m x 1.89m) Wall mounted heater. Low level w.c. Shower cubicle housing electric shower. Wash hand basin inset to vanity unit.
PLEASE NOTE
The barbers shop has approx 7 years remaining on the lease and pays 700 per calendar month.
The flat is just being decorated and then will be available to rent on a 6 month tenancy for 500 per calendar month.
Map location is not available for this property.
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.
5 Bridge Street, Wisbech
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