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1024 Maryhill Road, Glasgow, G20 9TE
£150,000 Fixed Price
The subjects are located within the Leith District of Scotlands capital city, Edinburgh, approximately 1.5 miles north of the City Centre upon a main arterial thoroughfare in what would be considered a mixed commercial and residential locality. More precisely the subjects are situated on the south side of Great Junction Street in close proximity to the junction with Leith Walk.
Description
The subjects comprise a ground and basement retail premises surmounted by a five storey stone built tenement building with a pitched and slated roof. The subjects benefit from a large glazed frontage and is accessed via an aluminium and glazed pedestrian entrance door. Internally the unit comprises open plan accommodation which has been partitioned to form both a sales area and a back shop. The ground floor also benefits from a WC and kitchen facility located to the rear of the property. The property benefits for class 3 consent and is equipped with a fully maintained extract system.
Accommodation
Ground 395.78 sq ft (36.77sq m )
Basement 344.44sqft (32.00 sqm)
PRICE
FIXED PRICE 150,000 for our clients heritable interest(freehold) within the property.
RATEABLE VALUE
With reference to the Scottish Assessors Association website, we note the updated Rateable value as of April 2023 will be: 7,890 meaning that a tenant or owner occupier should benefit from 100% rates relief in line with the small business bonus scheme.
LEGAL COSTS
Each party will be responsible for their own legal costs incurred within this transaction. The purchaser will be liable for any LBTT and registration dues.
SPECIFICATION
The subjects occupy a prominent position on Great Junction Street
Class 3 Hot Food Takeaway granted.
Stripped out and ready to refurbish
VAT
This property is not VAT elected.
ENERGY PERFORMANCE:
A copy of the Energy Performance Certificate (EPC) Will be 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.
1024 Maryhill Road, Glasgow, G20 9TE
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