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£1,500,000
Ground Floor 133 High Street: Let to Ryel Limted trading as Plan Burrito at a rent of 30,000 per annum on a 10 year lease from 28th June 2023
Ground Floor 135 High Street: Let to Mr Fryad trading as a barbers/hairdressers at a rent of 20,000 per annum on a 10 year lease from 24th February 2021.
Upper Parts 133/135 High Street: Planning approved for 6 x flats (23/02028/FUL), first floor (2 x 1 bed and 1 x 2 bed) second floor ( 2 x 1 bed and 1 x 3 bed).
All Plans and leases are available on request.
Located on the pedestrianised High Street and Elmer Approach. The premises is located east of Southend University of Essex, Southend Library and South Essex College. Close by retailers include Body Shop, Cafe Nero, NatWest, Barclays, JD Sports, Savers and Clintons. Southend Central and Southend Victoria train station are within walking distance with public car parks close by.
1,500,000 for the freehold interest.
Each party to be responsible for their own legal costs.
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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