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£130,000 OIRO
ATTENTION INVESTORS!!! This commercial property with a long term tenant in situ currently paying 10,000 per annum is available FOR SALE. The ground floor is extremely spacious and is being used as an opticians and the first floor will provide a spacious two bedroom apartment once renovated. Call to arrange a viewing before it sells.
' Commercial investment opportunity
' Freehold for sale
' Ground floor shop with a long term tenant in situ
' Annual gross income is 10,000 approximately
' First floor with a two bedroom flat once renovated
' Close to transport links, shops and amenities
Located in the heart of Blackpool this property will suit an investor who is looking to buy a ready made investment with the potential to add value to the property as well as the current income it is producing. The existing tenants have been running a successful opticians on the ground floor and are wanting to stay long term. They are currently paying 10,000 per annumproducing a healthy yield for the owner. There is a first floor which once renovated will make a very spacious two bedroom apartment which will be very popular with people looking to rent in the local area and will add to the investment return.
Please contact Kingswood.
Fulwood Office:
01772 717181
77 Watling Street Road, Fulwood, Preston, PR2 8EA
[email protected]
www.kingswoodproperties.co.uk
Disclaimer:
These particulars, whilst believed to be correct, do not form any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements quoted are approximate. Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
Ground floor
Shop premises 9.74 x 5.26 m (3111 x 173 ft)
Room 2.68 x 1.91 m (810 x 63 ft)
Room 3.62 x 2.05 m (1111 x 69 ft)
Room 4.37 x 3.36 m (144 x 110 ft)
WC 1.57 x 1.44 m (52 x 49 ft)
Storage room 1.50 x 1.45 m (411 x 49 ft)
Apartment
Reception room 4.28 x 3.31 m (141 x 1010 ft)
Bedroom 4.13 x 3.28 m (137 x 109 ft)
Bedroom 3.32 x 1.82 m (1011 x 512 ft)
Room 2.51 x 2.46 m (83 x 81 ft)
Room 2.55 x 2.29 m (84 x 76 ft)
Disclaimer
These particulars, whilst believed to be correct, do not form any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements quoted are approximate. Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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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