4 bedroom end of terrace for sale

£1,300,000

4

Bedrooms

3

Bathrooms

Floorplan

This beautiful four-bedroom Victorian home is positioned on a private lane overlooking the Kentish coastline in Margate. At the front of the house, large sash windows make the most of the houses elevated position, affording sweeping views out to the sea and shoreline.

The current owners have carefully renovated the interiors with a modern sensibility to be uplifting, considered spaces that, in places, quietly nod to a nostalgic seaside aesthetic.

The generously sized kitchen and breakfast room is the heart of the home. Centred around a custom-built island, the room was designed for both everyday dining and entertaining. Steel beams, exposed brickwork, original wood floors, a working Aga and terracotta-painted sash windows create a colourful and joyful setting that blends historic detailing with a contemporary feel. There is a well-thought-out pantry and a separate utility room, both of which maximise space in the main kitchen area.

At the front of the house is a living room that has been decorated Ocean blue to mirror the sea it looks over, while Victorian detailing adds character and warmth. A large bay window looks over the sea, Margate beach and harbour.

On the first floor there are four double bedrooms. Two of these - one offering a small terrace, while the principal bedroom has a large sash window bay - have far-stretching views out to sea.

There is a bright pink and blue bathroom, with retro fixtures and hardware that build on the sense of playfulness and fun felt elsewhere in the house.

The garden is accessed via the breakfast and entertaining room, with large French doors opening onto a paved patio area that feels secluded due to its wrap-around high walls, mature trees and low-level setting. There is an ornate working fireplace carved into the brickwork, a jacuzzi, an outdoor rain shower, side access and a storage cupboard perfect for surfboards, wetsuits and bikes.

The house has basement storage and the use of a communal garden which is shared with other residents of the lane.

The propertys location is right in the centre of Margate, moments from the charming old town, with its independent restaurants, cafes, galleries and shops, and a short walk to the areas sandy beaches and the Turner Contemporary art gallery. The Carl Freedman Gallery is closer still, as is the soon to open Tracey Emin gallery. The Centre Margate and the High Street are just a minutes walk away.

Margate recently received confirmation of 22 million funding as part of the Governments Town Deal programme, so the area is on course for continued renovation
cross its creative, heritage and wellbeing sectors. With the fund, historic buildings such as the Winter Gardens and Dreamland Cinema, are set to be refurbished, whilst better connections throughout the town will be implemented, making walking and cycling routes more attractive. Facilities and access to the coastline will also be improved, including that of Walpole Bay tidal pool - a favourite spot amongst locals.

Margate train station is a 4-minute walk away (0.2 miles). London can be reached directly in 1 hour and 24 minutes by rail. The nearby coastal towns of Broadstairs and Ramsgate are easily reached by car, bus or train, whilst slightly further afield are the charming seaside draws of Whitstable, Deal and Sandwich.



Features
  • Freehold

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

£ 1081450

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 32500
  • 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

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£

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

£ 106450
  • 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.

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Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

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

  • Cumulative Rental Profit
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    Cumulative Rental Profit = Annual rental profit x Time of Investment

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This is the assumed rate of house price inflation.

Final Property Value

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

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