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£895,000
INVESTMENT OPPORTUNITY
FREEHOLD
This is an excellent opportunity to acquire a striking Freehold property located in the commercial centre of Watford just 0.2 mile from Watford Junction Station and being 0.5 mile from the Watfords Atria Shopping Centre and nightime entertainment attractions.
The Freehold property comprises 3 Leasehold flats let on Assured Shorthold Tenancies which currently generate an annual income of xxx plus a long leasehold flat generating Ground Rent income of 150.00 pa on lease with 75 years unexpired
The property as it stands is an attractive investment opportunity being fully let and well maintained. However, the property has further potential to develop and to generate a greater income perhaps as an HMO investment or as a Short Let business.
The property comprises:
Top Floor Flat
One bedroom self contained Flat
Long Leasehold interest with approx 75 years remaining with Ground Rent income of 150.00pa
First Floor Flat
One Bedroom Self Contained Flat
Currently let on AST at 995.00 pcm
Current tenancy expires 2nd July 2023
Ground Floor Flat
Self Contained Studio Flat
Currently let on AST at 915.00 pcm
Current Tenancy expires 5th September 2023
Lower Ground Floor Flat
Two Bedroom Self Contained Flat
Currently let on AST at 1070.00 pcm
Current Tenancy expires 16th April 2024
Map location is not available for this property.
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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