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£1,350,000
Bedrooms
Bathrooms
John Payne are delighted to offer this incredible detached project with planning permission to convert it into 7 self-contained apartments within a sought after spot, just moments away from Eltham Palace.
Situated just moments away from Eltham High Street is this Detached Victorian house spanning an impressive 3389 sqft of internal space and over 3500 sqft in external space! In addition to the already existing external space the property has a driveway with space for at least four cars.
Currently arranged as three separate apartments, benefiting from planning permission for 7 self-contained apartments (3 x Two Bed & 4 x One Bed). You could even keep it as 3 apartments or convert it back into one house subject to the necessary consents!
The ground floor comprises: a large hallway with the entrance to the ground floor apartment which consists of two double bedrooms, a bathroom with both a bath and separate shower and a living room with a feature fireplace and French doors leading out to the garden. There is also a staircase in the hallway that leads up to the other floors. The first floor comprises: an entrance for the first floor apartment which consists of another two double bedrooms, living room, kitchen and three piece bathroom suite. The second floor comprises: an entrance for the second floor apartment which consists of a large living room, kitchen, three piece bathroom and a double bedroom with a shower ensuite.
Externally there is a large garden which has a side access and also provides access down into the cellar which currently runs under one half of the house.
Further benefits include: Gas central heating throughout (three combi boiler systems currently), double glazing throughout and a driveway for at least four cars.
The property is located just 0.4 miles from Eltham Railway Station, which offers fast and frequent direct services into London Bridge, Waterloo East, Cannon Street & Charing Cross. Eltham High Street is a stone€™s throw away and offers comprehensive shopping, bars, restaurants and the recently built Vue cinema complex.
The esteemed Royal Blackheath Golf Club which has been a part of the community for well over 400 years is also close by.
Note:
Building works commenced in December 2021 and a 5 day notice was submitted by London building control to confirm commencement of works
Planning:
Greenwich Borough Council granted the following planning permission (ref: 18/3287/F) on 27th February 2019:
Construction of a part 2/part 3-storey rear extension, including basement conversion and extension with front, side and rear light wells to facilitate the creation of 7 self-contained flats (4 new units).
Ground Floor Flat - Energy Efficiency Rating €“ D
Flat 1 -Energy Efficiency Rating €“ D
Flat 2 -Energy Efficiency Rating €“ D
Council Tax Band - D
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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