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£7,000,000
Located in the Hertsmere Borough of Hertfordshire, Bushey is an affluent town
on the boundary of the London Borough of Harrow in close proximity to Watford
which is just 2 miles to the north west and central London which is just 13 miles
to the south east.
Unique opportunity to acquire 2.75 Hectares (6.8 acres) of land at the former
Caldecote Farm which was previously an equestrian facility within the Hertsmere
Borough of Hertfordshire.
The former Caldecote Farm site is located on Caldecote Lane which provides
access onto Eltstree Road with excellent road communications to the A41, A1, M1
and M25.
Bushey is strategically located near several key local towns and major film studios
at Elstree and Borehamwood.
The site benefits from planning consent (16/0160/FUL) to construct a private gated
development of four detached four-bedroom houses and four three-bedroom
apartments with new access from Hillfiled Lane South together with associated
car parking and landscaping. The consent provides a total floor area of 25,114 sq ft.
We understand there is a deed of variation amending the consent which replaces
the four three bedroom apartments with two detached four bedroom houses.
The former equestrian facility has been demolished and cleared with development
on the consented residential dwellings at an advanced stage validating the
existing planning consent
Active asset management available which includes completing the current
consented residential development or enhancing the existing residential planning
consent subject to the necessary consents.
The site is also suitable for a range of alternative uses subject to the necessary
planning consents.
Freehold.
OFFERS ARE INVITED FOR THE FREEHOLD INTEREST ON AN UNCONDITIONAL BASIS
The property comprises 2.75 hectares (6.8 acres) of land which was the former
Caldecote Farm Equestrian Facility. Planning as granted in February 2016 for a private
gated residential development of five detached four bedroom houses and four three
bedroom apartments together with new access from Hillfiled Lane South with associated
car parking. Variations to the plans and drawings was most recently granted consent in
May 2022. Plot 5 has been sold and does not form part of the sale.
The Equestrian facility has been demolished and construction works are at an advanced
stage on the four detached houses (Plots 1-4) and new access has been created onto
the site from Hillfield Lane South. The foundations have been laid for the two consented
buildings comprising 4x3 bedroom apartments (Units 5-8). More information on the
unfinished construction is 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.
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