Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£715,000
Bedrooms
Bathrooms
Shop,1 xstudioand 1 x 2 bedroom flatfor Sale
Freehold,Vacant possession, Investment Opportunity
The building is a two-story mixed-use structure made of traditional brick.
A ground floor commercial unit is located in the front, a studio flat is located in the back, and a two-bedroom apartment is located on the first floor.
The commercial unit and the two-bedroom flat on the first floor will be sold as-is.
A garden surrounds the ground floor self-contained studio in the back.
The studio flat is currently occupied and is rented for 800 per month on a rolling lease with a two-month notice period.
The property has redevelopment/change of use potential to convert the existing commercial unit into residential use and incorporate the studio flat to create a larger dwelling (Subject to the requisite consents).
Independent services are supplied to all units.
Ground floor: Retail: NIA 270sqft (27.1m2)
Studio: GIA 228sqft (26.7sqm)
First Floor: 2 Bed: GIA 994sqft (92.3sqm)
Total: GIA 1,556sqft (144sqm
Map location is not available for this property.
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.
The Property has been saved to your favorites
/ 5
It's quick and easy
