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£795,000 Guide Price
Bedrooms
Bathrooms
An unique opportunity to acquire a superb Grade II Listed farmhouse, in need of complete restoration with adjoining barn, in a stunning elevated position on the edge of the Sotterley Estate, set in 2.5-acres.
Pond Farm is an attractive Grade II Listed red brick house under a pan tiled roof with extensive out buildings include a large barn attached to the main house as well as a range of other out buildings two ponds and ground extending to approximately 2.5 acres STS, in a stunning elevated position on the edge of this charming rural country estate. To our knowledge Pond Farm has never been on the open market.
The property was occupied until recently by a farming family. It is now being offered to the market as a rare opportunity to create a stunning family home, only a short drive from the coast.
The farmhouse is now in need of updating and renovation, offering a unique opportunity to remodel and extended in to the adjoining barn to create a spacious contemporary home.
You will see from the plans and CGIs how the house could look subject to planning.
At present the house consists of kitchen, sitting room, lean to extension and two further reception rooms along with a back pantry. On the first floor are three double bedrooms, a family bathroom and a single bedroom.
Outside:
The property is approached over a drive, which offers plenty of parking. There are a range of outbuildings which also need repair and updating, to include a former granary, workshop, cart lodge and bullock pen, with a pond to the rear and a pond to the front of the farmhouse, within its original gardens,
The property will be sold with further land beyond the garden, as meadow to create grounds extending to approximately two and a half acres STS. All standing in an elevated position with far reaching views on a quiet lane surrounded on two sides by farmland and to the rear an area of common land.
Location
Sotterely originally Southern-lea from its situation south of the river, is a village in East Suffolk, located approximately 4 miles (6 km) south-east of Beccles. The parish is primarily agricultural. Sotterley Hall remains at the centre of the parish which now has very few basic services. A saw mill operates in the village often making use of wood from the 160 hectares (400 acres) of mixed woodland managed by the Sotterley estate.
Services
Mains water and electricity are connected. Drainage to be via a cesspit.
According to Ofcom standard braodband is available and mobile coverage via O2 although limited.
NB: CGI images have been produced to show what the conversion could look like externally and internally. The main floorplan is the proposed layout once converted.
Local Authority
East Suffolk District Council Council Tax Band E
EPC Rating TBC
Directions
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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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