3 bedroom terraced for sale

£80,000

3

Bedrooms

1

Bathrooms

80,000 guide price.
For sale by conditional online Auction.
On behalf of Aston Estates.

Potential yeild 13%

Aston Estates are pleased to offer for sale this ground floor office/commercial unit with living accommodation above.
The property on approach is on a parade of shops and with ample on street parking, The property is secure with electrical roller shutters .
The property is close to the seaside resort town of Cleethorpes and all its amenities .
Once you enter the open plan commercial unit you are greeted by a clean and crisp feel in the air with no work required with plenty of space for all your office requirements and Equipment .
As you make your way down the ground floor hallway you have a large through lounge/Dining room as in the same fashion with the commercial unit the flooring is beech laminate flooring which covers the full radius of the ground floor in effect very low maintenance and no expense has been spared .
The fitted kitchen is very spacious and has an array of base and wall units in cream complemented with beech work tops .
Also, with an integrated electric oven and gas hob with stainless steel splash back and extractor fan overhead and of cause a stainless steel sink and drainer with chrome mixer tap .
The ground floor further comprises a downstairs cloakroom with a washbasin and WC for extra convenience with the addition of small pantry/utility area not very far from either this room or the kitchen for whatever use you see fit.
As you make your way out of the rear entrance you are greeted by the back garden very low maintenance consisting of solid concrete floors, The purpose-built brick detached garage which is very secure with roller shutters to the rear door and the garage electric roller door is operated via a remote and is very ample in space giving you access in both directions to the public highway .
As you make your way up on to the first floor and the residential living area the first thing that you notice is the spacious stairs leading up and the landing very giving indeed .
The lounge on this level is bright in part down to the large bay window allowing light to flood in with the focal point being the fireplace it makes for a great living space again with beech laminate flooring .
The 3 bedrooms are all spacious and branch out along the landing resulting in sleeping arrangements also not being a issue in regards to the aesthetics and cosmetics the property as a whole is a blank canvass so the colour scheme is something that could be changed according to taste very easily .
The upstairs family bathroom consists of a washbasin and vanity unit with mixer tap and close coupled W/C and walk in double shower enclosure .
This property is a chance to purchase a great investment if you want to start a new business venture with living accommodation above .
The property with the commercial unit downstairs and the residential dwelling upstairs has a potential income of 900.00 a month (combined).
First to see will buy, viewings Strictly via agent

Property summary
: Large office area
: GCH
: Full UPVC
: No onward chain
: Central location
: Large-property
: Business opportunity (Dual use)
: 3 bedrooms to the flat (Above)

Measurements.

Front Room €“ L 13ft8 X W 7ft4

Second Room €“ L 13ft10 X W 11ft4 into Chimney Breast

First Utility €“ L 4ft3 X W 4ft6

Hallway €“ L 13ft9 X W 5ft7

Under Stairs €“ L 5ft5 X W 2ft6

Third Room €“ L 15ft10 X W 11ft10 into Chimney Breast

Kitchen Utility Room €“ L 8ft7 X W 4ft3

Kitchen €“ L 13ft7 X W 11ft6

Downstairs Toilet €“ L 4ft X W 2ft10

First Master Bedroom €“ L 17ft 6 into Chimney Breast W 13ft2

Second Bedroom €“ L 13ft4 X 11ft3 into Chimney Breast

Upstairs Utility €“ L 9ft X W 2ft5

Third Bedroom €“ L 11ft9 X W 8ft10

Upstairs Bathroom €“ L 8ft10 X W 5ft6

Forth Bedroom €“ L 13ft3 X W 11ft11

Outdoor Garage €“ L 19ft X W 11ft3

This property is for sale under Traditional Auction terms. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.

With this auction method, an immediate exchange of contracts takes place with completion of the purchase required to take place within 28 days from the date of exchange of contracts.

On exchange of contracts, the buyer is required to make a payment of a 10% deposit, sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.80% of the final agreed sale price including VAT, subject to a minimum of 6,000.00 including VAT. The Reservation Fee is paid in addition to the agreed purchase price and is considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.

Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.

This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.

The buyer will also make payment of 300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Nearest Stations:

0.4 miles
New Clee
0.95 miles
Grimsby Docks
1.16 miles
Cleethorpes
1.47 miles
Grimsby Town
3.17 miles
Great Coates

Map location is not available for this property.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 64700

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 2000
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 4700
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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