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£240,000
Bathrooms
COMMERCIAL INVESTMENT Virdee Estates are proud to present For Sale this Freehold commercial property. Comprising of having a ground floor trading area, kitchen area and storage room. Further benefiting from having a one bedroom selfcontained flat above. Offered Freehold. Commercial EPC Rating: TBC, Flat EPC Rating: E45
Freehold commercial investment property with a ground floor restaurant and 1 bedroom flat to the first floor. Combined income of 16,800 p.a.
Ground floor restaurant;
Trading Area
7.77m x 3.57m
Kitchen
5.28m x 2.65m
Storeroom
10.45m x 2.31m
First Floor flat;
Access to flat
Metal stairs from rear garden
Hallway
3.07m x 1.05m
Having a ceiling light point and laminate flooring.
Open Plan Lounge & Kitchen
4.36m x 3.17m
Having ceiling light points, laminate flooring, fitted kitchen with a range of wall and base units.
Bedroom
4.17m x 3.28m
Having fitted carpet, ceiling light point and a double glazed window to the front elevation.
Bathroom
2.81m x 1.84m
Having a ceiling light point, vinyl flooring, hand wash basin, bath, splash back tiles to the side and an obscure window to the side.
General Information
Ground floor commercial is leased at 10,200 per annum
First floor flat is rented at 7,800 per annum
Tenure
The property is Freehold.
The Agent has not checked the legal documents to verify the Freehold status of the property.
The buyer is advised to obtain verification from their Solicitor or Surveyor.
Services
All mains services are understood to be available and connected.
Fixtures and Fittings
All fixtures and fittings mentioned in these particulars of sale are included in the asking price. All others are specifically excluded, but some items may be available by separate negotiation.
THINKING OF SELLING OR LETTING YOUR HOME?
Virdee Estates would be delighted to carry out a FREE market appraisal of your property.
CALL NOW ON 0121 554 0330
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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