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£300,000 Offers in excess of
The property comprises a single building plot previously part of the garden to No. 13 , a detached bungalow with frontage to Bayley Street of some 66 metres. The land is bordered on three sides by mature hedges and laid to lawn with some smaller fruit trees and shrub borders .
The ground is roughly rectangular in shape and slopes gently from north to south. There is a return frontage to Castle Lane. The surrounding properties to the west, east and south are largely residential and situated to the north are the grounds of the Grade 1 Listed Hedingham Castle.
The land extends to approximately 0.23 acres (0.09 hectares).
LOCATION
The plot is located on the northern edge of the historic village of Castle Hedingham approximately 9.5 miles north of Braintree and 7.1 miles south east of Sudbury.
Castle Hedingham benefits from a good range of local amenities including a local primary school, childrens nursery and village shop as well as tourist attractions; the Colne Valley Railway, and Hedingham Castle.
The neighbouring village of Sible Hedingham offers a wider range of shopping and other facilities. The A1017 trunk road provides a direct road link to Cambridge to the north east and Braintree and the A120 trunk road to the south.
The property is accessed from Bayley Street.
PLANNING
The site is located within Braintree District Administrative Area. The Adopted Local Plan shows the land as being situated within the development boundary of the village and within a Conservation Area.
Pre Application Advice received from Braintree and Planning Services suggest that the Council and their Heritage adviser would support an application for the development of the Plot as a single 4/5 bed bungalow in accordance with the attached layout plan (Option 2) subject to conditions including the provision of a shared access from Bayley Street.
Alternatively, purchasers may wish to pursue other development options subject to conditions. Interested parties are advised to conduct their own searches and contact the Local Planning Authority.
LOCAL AUTHORITY
Braintree District Council
Causeway House
Bocking End
Braintree
CM7 9HB
Tel
TERMS
The site is offered for sale freehold by private treaty.
GUIDE PRICE
Offers in excess of 300,000 subject to contract
LEGAL COSTS
Each party to bear their own legal costs incurred in this transaction.
VIEWING
Strictly by prior appointment with the sole agent:
Fenn Wright
20 Duke Street, Chelmsford, CM1 1HL
fennwright.co.uk
Contact
Roger Hayward -
Louisa Hunt -
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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