Commercial property for sale

£360,000 Offers over

' Commercial property for sale ' freehold 'Preston city centre ' multiple offices spread over two floors ' multiple uses 'potential to convert into apartments ' This is a rare opportunity to purchase a large spacious commercial property in Preston and we are expecting a lot of interest. Call to arrange a viewing as soon as possible.

This spacious commercial property in Preston city centre has come to the market for sale. Spread over two floors it offers so much space and potential which you will realise as soon as you view it. On the ground floor at the front there is an excellent size office with two offices and a kitchen area leading off it. This large spacecan be used for a variety of purposesdepending on your plans and requirements. Leading off this room there is an internal corridor leading to another large open plan office at the rear with stairs leading to the first floor.

On the first floor there are two more massive open plan offices with one of them having a separate office within the room. Within the building there are multiple WCsand a kitchen area on both floors.

The building and the internal space provides so many different opportunities depending on what you are looking to do with it, your requirements and your business plans. It can be kept as office space having the room to employ multiple staff or has the potential to be converted into multiple apartments.

This is a freehold property.

It is very rare that large buildings such as this one come to the market for sale in this area and when they do there is a lotof interest in them. Call to arrange a viewing as soon as possible to avoid missing out on it.

Please contact Kingswood.

Fulwood Office:

01772 717181

77 Watling Street Road, Fulwood, Preston, PR2 8EA

mail@kingswoodproperties.co.uk

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

Entrance lobby 1.69 x 1.32 m (57 x 44 ft)
Entrance door and a door leading through to the front office space.

Front office 8.87 x 5.90 m (291 x 194 ft)
Ceiling light points, two single glazed windows, three radiators, door leading to an office, door leading to a second office, opening leading to a kitchen area and a door leading to an internal corridor.

Office 3.24 x 2.78 m (108 x 91 ft)
Ceiling light point, double glazed window and a radiator.

Office 2.86 x 2.42 m (95 x 711 ft)
Ceiling light point, double glazed window, radiator and a door leading to a storage room.

Internal corridor 16.91 x 3.00 m (556 x 910 ft)
Ceiling light points, door leading to a rear office, door leading to a WC and a lift.

Rear office 8.60 x 8.44 m (283 x 278 ft)
Ceiling light points, two windows, three radiators, kitchen area and stairs leading to the first floor.

WC 2.20 x 2.20 m (73 x 73 ft)
Ceiling light point and two windows.

First floor

Front office 8.86 x 8.70 m (291 x 287 ft)
Ceiling light points, two double glazed windows, three radiators and a door leading to a separate office.

Office 4.43 x 3.51 m (146 x 116 ft)
Ceiling light points, two double glazed windows and two radiators.

Rear office 8.80 x 7.88 m (2810 x 2510 ft)
Ceiling light points, double glazed window and two radiators.

Kitchen 4.35 x 1.63 m (143 x 54 ft)
Ceiling light point, two double glazed windows and a radiator.

External
At the rear there is a yard.

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.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 299700

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 9000
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 29700
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

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£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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