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£1,000,000 Guide Price
AVAILABLE WITH VACANT POSSESSION
DEVELOPMENT OPPORTUNITY
CALLING ALL DEVELOPERS
TOTAL PLOT SIZE 0.22 ACRES
Offered for sale is the former NHS clinic which formed part of Victoria Hospital, next door. The property is approximately 2,500 sq.ft.. It is DDA compliant and offers a number of treatment/consultant rooms, offices, a reception and a large attached garage. The garage has been converted to a waiting room and treatment room with kitchen area. The clinic closed and relocated a few years ago and the property has been vacant since them. It is in a usable condition with all wiring, plumbing and heating, fixtures and fittings intact. It comes with D1 usage which means it is suitable for a variety of uses, including a clinic, surgery, nursery and much more. The site also has great potential to be extended or converted to a block of apartments (subject to planning). Planning has been approved to build a single residential home of approximate size 4500 square feet. Planning has also been submitted to build 3 houses on the site with a decision expected in June 2025.
The site offers a 62ft wide frontage with a garden depth of approximately 105ft. The front offers parking for multiple vehicles and the property stands on a plot measuring 0.22 acres.
The property is situated conveniently for Romford town centre and is situated 0.9 miles to Romford Elizabeth line station. Also convenient for bus routes and major road links to the wider area.
Properties like this do not come around often and presents an exciting opportunity for someone looking for their next big project.
Please call Balgores Romford on or for further information together with planning documents on request.
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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