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23 Lodge Lane, Grays, Essex, RM17 5RY
£1,250,000
Bedrooms
Bathrooms
Reception
The property is located in a pleasant semi-rural location directly opposite Gateway Primary Free School. The A13 is only approx. 2 miles away and Tilbury Town Train Station only an approx. 5 minute drive. This station provides a service to London (London (Fenchurch Street) in approximately 42 minutes.
The property
The commercial accommodation is positioned to the rear of the site, comprising a modern complex of storage/light industrial space with office/welfare facilities. Access is via an electric security gate fronting the main road and a wide drive way. The space benefits from 3-phase power, 2500l LPG tank, CCTV, alarm and electric shutters.
The planning consent was for our client's previous business (storage and manufacture of timber structures) but could be changed with the Local Authority. Planning ref: 17/00245/FUL.
To the front is a semi-detached 3-bedroom property, extensively refurbished to an exceptional standard. The ground floor comprises 2 bedrooms, lounge, fitted kitchen, shower room and large hallway. On the first floor is the master bedroom, en-suite and clothes storage. Large walk in shower.
The lounge overlooks the garden where there is also a spacious entertainment room with bar and kitchen. There is also a toilet opposite and utility room.
The property is double glazed throughout and centrally heated by the LPG system. There is mains water and a private treatment plant.
In addition, there is a detached 1 bedroom self-contained ground floor flat with toilet, shower, kitchen and lounge/diner. Adjacent is another detached structure being used as a dance studio.
The property occupies a spacious landscaped site comprising gravel parking to the front and the commercial yard to the rear.
Accommodation Measured in accordance with the RICS Code of Measuring Guide the approximate gross internal floor area is:
Unit 3,317 sq ft 308.4 sq m
Yard 3,209 sq ft 298.3 sq m
4-bedrooms (including detached accommodation), lounge, kitchen, ground floor shower and first floor en-suite with clothes room. Entertainment room and dance studio.
Tenure
Freehold with vacant possession.
Figures
Offers in the region of 1,250,000 are invited for the freehold interest with vacant possession.
Business rates
The Rateable Value (2023) of the commercial part is 15,250. Small Business Rate Relief may apply and interested parties are advised to satisfy themselves in this respect. The residential is Council Tax Band C.
Legal costs
Each party is to be responsible for payment of their own legal costs.
Money Laundering Regulations
Due to recent money laundering regulations, all purchasers when making an offer on a property will need to provide a copy of their current Passport photo page and a recent Utility Bill confirming their current address.
Energy Performance Certificate (EPC)
The rating for the chalet is E54. An EPC for the commercial element is in the process of being prepared.
Council Tax Band: G (Thurrock Council)
Tenure: Freehold
Parking options: Disabled Parking Available, Driveway, Garage, Off Street, Residents
Garden details: Private Garden, Rear Garden
Map location is not available for this property.
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.
23 Lodge Lane, Grays, Essex, RM17 5RY
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