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£200,000 Guide Price
A former farmyard and arable land. In all about 10.94 acres. Available as a whole or in two lots.
This remarkably quiet and tranquil property provides magnificent views of the Quantock Hills and yet is only 3 miles from the county town of Taunton. It offers prospective purchasers the rare opportunity to acquire two period cottages, together with a range of farm buildings with concrete yards and just over 11 acres of level pasture/arable land. Previously let, the cottages could accommodate multigenerational living or be linked to create one single dwelling, subject to any necessary consents. The farm buildings could, with modification, also suit a number of alternative uses including; equestrian, general storage, garaging, subject to any necessary consents. The property is being offered for sale as a whole or in two lots as follows:-
BUILDINGS AND LAND, IN ALL ABOUT 10.94 ACRES.
Located to the north of Lot 1, Lot 2 comprises a range of former dairy buildings and concrete standing out yards, complete with two concrete silage clamps. The buildings briefly comprise:
Pole barn (9.7m x 10m) with lean-to off (9.7m x 5.5m).
Stockyard (11.29m x 19.24m) with a steel and timber frame construction under a GI clad roof with concrete flooring.
Tractor shed (5.42m x 16.8m) with an adjacent storage barn (5.1m x 16.8m)
Cow kennels (10.9m x 7.2m) x 2 of single storey timber frame construction.
Situated within the field to the north is a stone barn of traditional construction now in a dilapidated state and in need of renovation.
THE LAND
The good quality land comprises three level enclosures, within natural hedgerow boundaries, perfect for livestock, equestrian or other amenity uses.
RIGHTS OF WAY
There is a public footpath which traverses Lot 2.
Should Lots 1 and 2 be sold separately the purchaser of Lot 1 will have a right of access over the area hatched blue on the attached identification plan.
SERVICES
Mains electricity. Water isvia a shared private supply from Grove Farm.
TOWN AND COUNTRY PLANNING
The two cottages both benefit from certificates of lawfulness for residential use.
The cottages are approached at first over a driveway, shared with the farm buildings, which then forks to the left where the concrete drive leads to a parking area, flanked on either side by lawned gardens, currently a blank canvas, which can be landscaped to individual requirements.
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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