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£175,000
DESCRIPTION An exciting opportunity to acquire a plot of land being sold with the benefit of detailed planning consent for the erection of a detached dwelling which is situated in a sought after location, moments from the beach and within a short walk of the town centre.
The site frontage of some 35 feet to Wakefield Way and a maximum overall depth of approximately 142 feet. It is being sold with the benefit of full detailed planning permission for a stunning 3 bedroom detached home which has been thoughtfully designed by award winning architects, Guy Holloway Studios. The site is relatively level, is dotted with some trees which would need to be cleared prior to commencement of the build and the purchasers would be responsible for the erection of a 6 ft close boarded fence upon completion.
The approved plans detail a property which has been designed to enhance the immediate vicinity and which will provide accommodation designed to compliment a modern lifestyle with a welcoming entrance hall leading to a generous open plan kitchen/dining/living space with expansive glazing flooding the space with light and uniting it with the garden. There is also a ground floor bedroom/study and cloakroom. On the first floor there are two double bedrooms (one with an en-suite shower room) and a bathroom. Outside there is parking, a bike store and a private garden.
For full plans, drawings and correspondence please follow the link below to the planning portal for Folkestone & Hythe District Council.
LOCATION Wakefield Way is a popular position, accessed via Cinque Ports Avenue from St Leonards Road, being very close to the prestigious Fishermans Beach development and moments from the unspoilt seafront of this ancient Cinque Ports Town, with its long stretches of shingle beaches. The house is also on a level approach to the Royal Military Canal and to the nearby bustling High Street which enjoys a variety of independent shops, boutiques, cafes, bars and restaurants. In addition there are 4 supermarkets (including Waitrose, Sainsbury and Aldi). There is also a selection of sports and leisure facilities in the vicinity including tennis, bowls, cricket, squash and sailing clubs as well as other water sports facilities. The town is also well catered for with well regarded primary and secondary schools together with boys and girls grammars in Folkestone. The larger town of Folkestone is less than 5 miles and the Cathedral City of Canterbury is approximately 17 miles distant.
The area is fortunate in having particularly good communications with a mainline railway station in Saltwood (Sandling - 3 miles) and access to the M20 (Junction 11 - 4 miles). The High Speed Link rail service to Stratford and St Pancras is available from Folkestone West (4.2 miles) and Ashford International (10 miles), with journey times of 53 and 37 minutes respectively. The Channel Tunnel Terminal is around 4 miles away and the ferry port of Dover is 13 miles away. (All distances are approximate.)
Map location is not available for this property.
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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