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£1,450,000
Bedrooms
Bathrooms
Spanning approx. 2,100ft2 internally, this Grade 1 listed warehouse conversion is not only grand in scale, but also festooned with an abundance of fantastic period features. From the high Timber beamed ceilings, solid wood flooring, exposed brick work and original wrought-iron window gratings, this apartment blends modern living and historic charm seamlessly. Starting with the entrance hallway and its high vaulted skylight above, the apartment makes an instant impression. The three good-sized double bedrooms are all accessible from this space, two of which come with their own private en-suite bathrooms, and there is a separate family bathroom along with a guest W/C as well. The main highlight of this apartment is the vast, south-facing, open-plan reception area. With views overlooking West Indias North Dock, this room is designed to be the perfect entertaining space. The generous island kitchen arrangement, replete with all of the mod-cons one would expect, has been designed to marry-up well with the historic nature of the main living space, and also comes with its own designated bar area. The apartment also comes with its own secure, off-street parking space and Port East has a 24hr on-site concierge team for residents as well.
Originally developed as part of the West India Import Dock between 1800-1804 by George Gwilt & Son, S. H. Kessels observed that at twice the length of the Palace of Versailles, the development outreached all the palaces and great houses of Europe, whilst the buildings are described by the Survey of London as one of the great monuments of European Commercial Power.
No. 2 Warehouse was converted between 1998-2000 as a mixture of apartments, restaurants and shops by FSP Architects on behalf of the developers, Manhattan Loft. Port East Apartments is part of the last remaining warehouses that formed the original West India Import Dock. The development is Grade 1 listed and provides an opportunity to own a piece of Londons mercantile history.
The development is supremely located for DLR services to London City and Tower Hill via West India Station (0.15km) and in recent years, a much wider reach via Londons new Elizabeth Line (0.3km), opening up locations as far as Londons famous West End and putting Heathrow Airport now within easy reach.
Tenure - Share of freehold (99 years approx. on the lease)
Service Charge - 18,229 pa approx.
Ground Rent - 500 pa
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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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