House for sale

£450,000 Guide Price

Substantial commercial freehold located opposite the pannier market, accommodation arranged over 4 floors with ground floor (approx. 868 sq. ft.) and lower ground floor (approx. 468 sq. ft.) office space. First and second floor 2 bedroom flats both currently tenanted at 700 and 695 PCM and both recently refurbished. Offering potential for additional accommodation with now lapsed planning permission for loft conversion and land to the rear.

Ground Floor
Office
31 x 28 (9.45m x 8.53m)
Recessed front door, shop frontage and window, 2 windows to rear taking in views over Bideford town down to the Torridge estuary, solid oak floor boards with natural oil finish, 5 radiators, Cloakroom with close coupled w/c, wash hand basin, recessed sink area, storage cupboard, wall mounted gas fired combination boiler servicing both ground and lower ground floor. Triple glazed windows to the rear elevation.
Lobby
Window to front stairs down to:
Lower Ground Floor
Office
26 7 x 17 8 (8.1m x 5.38m)
Converted by the current owners to a very high standard with a low environmental impact, earth rendered walls, under floor heating with solid slate floor, double glazed window and 2 doors taking in the view down to the Torridge Estuary.
Kitchen
11 1 x 5 4 (3.38m x 1.63m)
With a good range of bespoke fitted solid ash wall and base units and work surfaces, inset stainless steel sink, integrated fridge, washer drier, dishwasher and microwave oven, extractor fan, solid slate tiled floor.
Shower Room
9 8 x 6 3 (2.95m x 1.91m)
Close coupled w/c, wash hand basin and vanity unit, shower tray (awaiting shower unit to be fitted). Solid slate tiled floor, under stairs cupboard, extractor.
Separate Entrance
Accessed from Market Place, communal hall and stairs leading to first and second floor flats. On the second floor landing there is an access into the large attic space which has had planning to convert into a 2 bedroom flat with roof terrace which has now lapsed.
First Floor Flat
With Triple glazing to the rear elevation
Entrance hall
Front door, entrance phone system.
Living Room
15 8 x 12 8 (4.77m x 3.86m)
2 windows to front elevation, radiator.
Kitchen
11 10 x 8 2 (3.61m x 2.49m)
With a good range of matching wall and base units with roll top work surfaces, recently installed wall mounted gas fired combination boiler, radiator, triple glazed window to rear taking in views over the Torridge estuary.
Bedroom 1
16 8 x 9 4 (5.08m x 2.84m)
Radiator
Bedroom 2
12 2 x 9 6 (3.71m x 2.89m)
Triple glazed window, radiator
Shower Room
11 3 x 5 2 (3.43m x 1.57m)
Superbly fitted with large shower cubicle with rain shower, wash basin and close coupled WC, Mirror fronted bathroom cabinet, heated towel rail, spotlights
Second Floor Flat
With triple glazing to the rear elevation
Entrance hall
Area and hooks for coats etc.Leading to Inner Hall - useful airing cupboard with shelves and mini radiator
Living Room
21 4 x 13 0 (6.50m x 3.96m)
This is a marvelous space spanning across the building. Fitted carpets. Thermally lined natural coloured curtains and wooden venetian blind.
Kitchen
9 2 x 10 3 (2.79m x 3.12m)
Locally hand made kitchen with plenty of fitted cupboards and drawers. Stunning pietre worktop. Appliances include: new A-rated Bosh washing machine, tumble drier and dishwasher, A rated fridge freezer with wine rack; built in oven, hob and extractor. Triple glazed window to rear taking in views over the Torridge estuary.
Bedroom 1
20 9 x 10 1 (6.32m x 3.07m)
Large double bedroom with carpets and thermally lined natural coloured curtains, stainless steel curtain pole.
Bedroom 2
11 3 x 9 4 (3.43m x 2.84m)
Double bedroom with carpets and thermally lined cream curtains, stainless steel curtain pole. Triple glazed window to rear taking in views over the Torridge estuary.
Shower Room
Gorgeous bathroom with Walk in shower, with rain dance showerhead, smart wall hung WC and matching sink. Ash floor and matching venetian blind. Mirrored bathroom cabinet. Triple glazed window.
Outside
39 4 x 39 4 (12m x 12m)
To the rear of the property is a square of land which is unused at the moment but offer potential for redevelopment subject to the relevant planning consents.
Tenure
The property is FreeholdThe two flats are let on Assured shorthold tenancies at Rents of 695 and 700The offices will come with Vacant Possession

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

£ 373950

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
    £ 11250
  • 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

£ 36450
  • 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)
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  • Letting Fee
    £
  • Maintenance
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  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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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.

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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

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

  • Cumulative Rental Profit
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Final Property Value

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