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£309,950 Guide Price
Bathrooms
Virdee Estates are proud to present For Sale this Freehold restaurant and bar. Prominently situated on the main Soho Road. Comprising of having a ground floor trading area, kitchen and w.cs. Self contained first floor flat having a reception room, bedroom, kitchen and bathroom.
Approach
Having slabbed paving, and steps leading to a hardwood front door.
Ground Floor
Trading Area
1,486 sq. ft (approx)
Having several spotlights, roller shutters, open plan bar/restaurant area and tiled flooring.
Kitchen
188 sq. ft (approx)
Having several spotlights, stainless steel extractor canopy, sink unit, door to rear garden and tiled flooring.
First Floor Self Contained Flat
Reception Room
14 x 1811 into alcoves
Having a ceiling light point, vinyl flooring and double glazed windows to the front elevation.
Kitchen
1510 x 121 max
Having two ceiling light points, wall mounted boiler, vinyl flooring and single and double glazed windows to the side elevations.
Bedroom
132 x 129 into alcoves
Having a ceiling light point, wooden floorboards and a single glazed window to the rear elevation.
Bathroom
75 x 61
Having a ceiling light point, hand wash basin, bathtub with hot and cold taps over, vinyl flooring and an obscure single glazed window to the side elevation.
General Information
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
MISREPRESENTATION ACT 1967
'These details are prepared as a general guide only and should not be relied upon as a basis to enter into a legal contract or to commit expenditure. Interested parties should rely solely on their own surveyors, solicitors or other professionals before committing themselves to any expenditure or other legal commitments. If any interested party wishes to rely upon information from the agent, then a request should be made and specific written confirmation provided. The agent will not be responsible for any verbal statement made by any member of staff, as only a specific written confirmation should be relied upon. The agent will not be responsible for any loss other than when specific written confirmation has been requested'.
MISDESCRIPTION ACT 1991
'The Agent has not tested any apparatus, equipment, fixtures, fittings or services, and so does not verify that they are in working order, fit for their purpose or within the ownership of the seller. Therefore, the buyer must assume that the information given is incorrect.
Neither has the agent checked the legal documentation to verify legal status of the property. Buyers must assume that the information is incorrect until it has been verified by their solicitors or legal advisers.
The measurements supplied are for general guidance and as such must be considered incorrect. A buyer is advised to re-check the measurements him/herself before committing to any expense. Measurements may be rounded up or down to the nearest three inches, as appropriate.
Nothing concerning the type of construction or the condition of the structure is to be implied from the photograph of the property.
The sales particulars may change in the course of time and any interested party is advised to make a final inspection of the property prior to exchange of contracts'.
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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