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9 - 11 Old Market Place, Ripon
£1,250,000
'' UNEXPECTEDLY RE-OFFERED ''
Residential development opportunity with detailed planning consent. A short distance from Ripon City Centre
An excellent opportunity has arisen to acquire a development site of approximately 0.64 acres (0.259 hectares) with detailed planning consent for the demolition of existing buildings and the erection of thirteen dwellings, with realigned access, associated parking and landscaping on the former North Yorkshire Timber site off Trinity Lane, Ripon HG4 2AL. Trinity Lane is located only a short walk from Ripon City Centre and is in a quiet backwater within Ripon Conservation Area. Planning Ref: ZC23/02034/FULMAJ
The development consists of two terraces, made up of four different house types. The main terrace consists of ten dwellings and three house types, house type D (plots 1 to 2), house type B (plots 3 to 9) and house type A (plot 10). The second terrace, to the rear of the site consists of three further dwellings, all of which are house type C (plots 11 to 13).
House type A is a three bed house, over 2.5 storeys with a GIA of 1,482 sqft (137.7m2). House type B is a 3 bed house, over 2.5 storeys with a GIA of 1,477 sqft (137.2m2). House type C is a two bed, two storey house with a GIA of 780 sqft (72.5m2). House type D is a three bed house over 2.5 storeys with a GIA of 1,146 sqft (106.5m2).
Further details are available upon request.
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.
9 - 11 Old Market Place, Ripon
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