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£89,000 Guide Price
A strategic parcel of land in the grounds of Totworth Court. The site is approximately 2.13 acres (0.87 hectares). The site is majority flat, comprising of pasture and mature trees. This site retains a concrete hardstanding that was formerly used as a base for 22 garages (garages are no longer there). There is 10 years remaining on the overage contract drawn up 20 years ago by MOJ. This site has development potential but is being sold as is and not subject to planning. The site has a direct frontage to Woodland Road (with access) and Tortworth Road . Included in the sale is partial ownership of the access roads. We are advised by the Vendor that there are no repairing obligations associated with either of these roads and that a contribution towards maintenance is shared between all parties that benefit from the use of the access roads. The vendor informs me that the site is suitable for agricultural, equestrian or amenity uses (subject to planning).
Development or Investment site (s), bought through Churchfield, the purchaser is required to retain Churchfield at the rate of 2.4% (minimum fee of 3,600) including vat at the prevailing rate. Churchfield must be instructed as sole agents to re-sell the finished units at 2.4% including vat or let/re-let at 9.6% including vat (fully managed). Churchfield out of area Terms & Conditions and Churchfield local area terms and conditions will be sent to all prospective interested parties. The T & Cs will require signing before any sale is put in solicitors hands.
Churchfield Offer a FREE Selling Service to Vendors of Land and Investments
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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