Land (commercial) for sale

£425,000 Offers in excess of

Floorplan

Description - Rowland Gorringe Land and New Homes Ltd., have been appointed to offer this unique planning opportunity, in Crowborough, East Sussex, for 4 x two bedroom apartments (2+2) and a single det 3 bed house in a quiet cul-de-sac Tanners Way.

The planning is for 2 x apartments adj to nos 7 & 8, plus another x 2 apartments at the other end of the block, adj to nos 11 & 12,
and 1 x detached 3 bedroom house.
The successful purchaser of the site will be responsible for our acquisition fee of 2% plus VAT of the final sale price.
50% of this fee is to be payed upon the successful exchange of contracts.

The PP has been implemented for all three phases of this development.

Approx size: 4 x apartments of approx. 50sqm each
1 x three bed det house approx. 72sqm

CIL liability: TBC
Total GDV approx. 1,435,000
Possible Freehold of the whole block of flats may be available
All parties must satisfy themselves with regards to the approximate GDVS and planning details, prior to entering negotiations.

WD/2016/2199/F
WD/2009/2280/FE
WD2020/0790/F

These particulars are thought to be materially correct though their accuracy is not guaranteed and they do not form part of any contract. These details have been compiled from a visual inspection only of the property and from information given by the Vendors as being accurate to the best of their knowledge. Applicants wishing to purchase must rely on a survey on the structure and condition of the entire property and its services, and on their Solicitor for verification of any planning consent, guarantees, and to ensure that there is clear and good legal title to the whole of the property. These details are not intended to form any part of any contract. None of the appliances mentioned in those details have been tested by the Agents nor should any measurements be relied upon and all parties are encouraged to verify these aspects prior to negotiations.

Location - Welcome to Crowborough, a charming town located in the scenic East Sussex region. With excellent commuter links to London, it offers the best of both worlds - a peaceful countryside lifestyle and easy access to the bustling city. The town is surrounded by lush woodlands, including the beautiful Ashdown Forest, providing residents with the perfect opportunity to enjoy nature at its finest. The town center boasts a vibrant atmosphere, filled with independent shops, cafes, and restaurants. Families will be pleased to know that there are a variety of schools and recreational facilities, including sports clubs and parks. Crowborough is the ideal place to call home, where natural beauty meets commuter convenience, and a warm welcoming community.

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

£ 353325

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
    £ 10625
  • 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

£ 34575
  • 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

  %
  %
£
  %

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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