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£300,000 Offers in excess of
Bedrooms
Bathrooms
Located a stones throw from the heart of the Bury St. Edmunds town centre, this luxury, two bedroom, second floor apartment has been finished to an exemplary standard with the likes of number plate recognition parking, triple glazing, quartz worktop and high specification appliances.
Bury St Edmunds is becoming an ever popular town to reside due to the array of opportunity it offers whether this be in a professional, leisurely or educational manner. The thriving town offers a choice of mainstream and independent amenities from bars, shops, restaurants, eateries, gymnasiums and spas to name but a few.
The property is currently rented, providing a superb opportunity for any potential investors, offering a 7% gross yield. This aside, the apartment attracts to a range of buyers including those looking to upsize, downsize, or even first time buyers.
Upon arrival, you are greeted by visitors parking (number plate recognition) below the building, which offers secure gated access into the residential parking area. Storage space, bike store, electric charging points and internal access to the building are all available and accessible. Both stairs and lift access can be found.
The apartment comprises:
ENTRANCE HALLWAY: 1.76 x 1.88m
Upon entry into the property, you are greeted by a good-sized entrance hallway, finished with stunning wooden flooring that is hard-wearing and easy to clean/maintain, complete with storage facilities
BEDROOM 1: 5.04 x 3.36m
Incredibly spacious master bedroom with access to both a contemporary en-suite and balcony via large sliding doors allowing for copious amounts of natural light to flood the property.
EN-SUITE: 1.95 x 2.41m
Fit with wc, basin, walk-in shower, storage units and backlight mirror, whilst finished with floor-to-ceiling tiling creating a contemporary feel.
BEDROOM 2: 3.52 x 3.51m
The second bedroom is a fantastic size, suitable for a king-sized bed amongst other furnishings. With the two bedrooms separated via the entrance hall, this provides added privacy whether utilised as a bedroom, office / study, dressing room and sits adjacent to the family bathroom.
BATHROOM: 1.67 x 2.60m
The three-piece bathroom suite is complete with wc, basin, bath with rainfall shower over, storage, backlight mirror and sizeable storage cupboard which can house the washer-dryer.
OPEN PLAN LIVING/KITCHEN: 6.33 x 4.81m
The spacious, open-plan kitchen - living space overlooks the front of the development and is bathed in natural sunlight. The high specification kitchen upholds a choice of low and eye level storage, amongst integral Bosch appliances, further enhancing the professional quality and finish to the apartment. The living area supports necessary media panel connections, triple glazed windows and access to the balcony.
BALCONY: 1.79 x 2.93m
Large private balcony, accessed through sliding doors in the master bedroom or single door via living space.
OUTSIDE:
To the rear of the development you find a stunning communal space, fit with mature shrubs, raised beds and seating perfect for enjoying the summer sun. The high quality composite decking further enhances the quality of the development. This area is maintained by the management company.
AGENT NOTES:
Incredibly energy efficient offering triple glazed windows and luxury of underfloor heating with individual room controls, a heat recovery ventilation system promoting optimal air quality, and spotlights throughout. Investment opportunity offering
The apartment comes fitted linen storage shelves and designer fabric lined blackout curtains and discrete blinds (worth 5,000)
We endeavour to make sales particulars accurate and reliable. However, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any service, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only and are not precise. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation. Please note that we have not inspected the garage or the loft so we cannot comment on the condition of these.
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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