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£399,950
Bedrooms
Bathrooms
Reception
LOCATION:The property is located on the High Street, on the corner of Oakley Road & long Leagrave High Street and within walking distance to Leagrave Main Line Railway Station.
DESCRIPTION:Commercial Freehold shop unit with 2-bedroom duplex marionette, currently trading as a Launderette & previously traded as a Newsagent for over 25 years. Good sized double fronted shop unit with 2-bedroom duplex upper parts with communal terrace, off street parking and garage located in block nearby. Agent Note the shop unit can be completely empty
USES:Class E & the old A1/A2
TENURE:425,000 Freehold
BUSINESS RATES:100% Business rates relief. Interested parties are advised to make their own enquiries to the local authority
SIZE:Shop unit is approximately 505 sq ft
UPPER PARTS:2 Bedroom duplex maisonette with communal terrace & currently rented out on a AST achieve 800 pcm.
LEGAL COST:Each party to be responsible for their own legal costs
LOCAL AUTHORITY:Luton
ENERGY PERFORMANCE CERTIFICATE:Energy Performance Asset Rating is 71- C Rating. C copy of this propertys energy performance certificate is available on request
REFERENCE CHARGE:London Properties charges a fee of 200 plus VAT for taking up references for proposed tenants. This fee is nonrefundable after the references have been taken up, whether they are accepted or not by the Landlord.
HOLDING DEPOSIT:A holding deposit will be required to secure the property the deposit will buy a period of exclusivity and will be held in the London Properties client account
FIXTURE & FITTINGS:Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition
AGENT NOTE:London Properties for themselves for Lessors, Vendors and their agents, give notice that:-
1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.
2. These details do not constitute any part of an offer or contract.
3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.
4. All rent prices, fees and charges are quoted exclusive of VAT
VIEWINGS:Through London Properties by appointment only
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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