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£275,000 Offers over
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This luxurious one -bedroom ground floor garden apartment is perfectly located within the Abbott Memorial Building, situated in the prestigious Princess Mary Court Development site in Jesmond. Originally built in 1873, the Grade II listed building was once home to the Princess Mary Maternity Hospital and is now regarded as one of Jesmonds most sought-after residential addresses. Redeveloped by Yuill Homes in 1998, Princess Mary Court offers a secure, gated community, centred around an elegantly landscaped courtyard with a water feature, creating a serene outdoor space ideal for summer relaxation. Located in the heart of the Brandling Village Conservation, this apartment offers private road access, a secure gated entrance, allocated parking for two vehicles, and 24/7 security surveillance for added peace of mind.
This impressive property offers 656 sq. ft. of internal living space and as you enter youre greeted by a sense of spaciousness and light. It briefly comprises: a communal entrance with secure entry phone system; a private entrance hall, a spacious south facing lounge with high ceilings and a feature fireplace, kitchen with views of the surrounding greenery which has high ceilings, fitted units and marble worktops, a generous 12.1 m primary bedroom with high ceilings and south facing windows that flood in light and modern central bathroom with luxurious curved glass shower enclosure and modern fixtures. The property also benefits from fitted wardrobes which have been installed in the central hallway as well as a boarded loft for extra storage.
The gardens and grounds surrounding Princess Mary Court are meticulously maintained, featuring beautiful mature shrub and flower borders, along with excellent parking facilities for both residents and visitors. A viewing of this outstanding apartment is highly recommended.
Services: Mains electric, gas, water and drainage | Tenure: Leasehold | Service Charge: 3,444 per annum | Ground Rent: N/A | Council Tax: Band C
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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