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14/16 Bromham Road, Bedford
£1,250,000 Guide Price
PLANNING:Full planning permission was originally granted under application no. TP89/00605 dated 3rd September 1990 for the erection of a hotel with leisure and conference facilities. More recently, a Certificate of Lawful Development under reference no.19/00445/LDP dated 23rd May 2019, has been issued.Copies of planning permission documents together with technical information, are available from Compass.The site may have potential for other uses i.e. care, leisure, commercial, community/religious and possibly some for some form of residential (STPP).PROPOSED HOTEL ACCOMMODATION:The consented hotel will provide for 70 double bedrooms all with en-suites (incorporating three suites), together with five conference suites, restaurant, swimming pool and ancilliary areas.Two passenger lifts are projected within the entrance and reception area.A detailed schedule of accommodation and copies of drawings are available from Compass.CONSTRUCTION:The proposed construction of the premises has been designed to be as simple as possible utilising the gently sloping site to increase the headroom in the rear conference facilities, conventional foundations are proposed with two storey cavity brick and blockwork, solid concrete or raised ground concrete slabs to be provided for ground floor, intermediate floor of concrete slabs supported from load bearing and sound efficient party walls. EXTERNALLY:A total of 179 car spaces are indicated. The remainder of the site to be landscaped to effectively screen the parking from the hotel.ACCESS:The existing access road to Box End House is to be widened to six metres and the occupants of Box End House to have rights of vehicular and pedestrian access along such road to the point of connection to the access of their property.The site has the benefit of overlooking Box End Aqua Park.GENERAL SERVICES:It is believed mains water, electricity and drainage are available in Box End Road but prospective purchasers must satisfy themselves with respect to availability and cost of connections.TENURE:The site is to be sold Freehold. METHOD OF SALE:By Private Treaty.NOTE: VAT will not be charged on the sale of the property.GUIDE PRICE:UNCONDITIONAL OFFERS ONLY are invited in the region of 1,250,000 subject to contract.CONDITIONS OF SALE:1. The purchasers are to exchange unconditional contracts within 6 weeks from the date when their solicitors receive draft contract documentation.2. Legal completion is to take place within 6 weeks from exchange of contracts.VIEWINGS:Strictly by appointment via Compass Land and Development.Compass Land & Development for themselves and for the vendors of the land, whose agents they are, give notice that; (A) These particulars are produced in good faith, but are set out as general guide only and do not constitute any part of a contract; (B) No person in the employment of Compass Land and Development has any authority to make or give any representation or warranty whatsoever to the land. These details are presented subject to Contract and without prejudice. January 2020
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.
14/16 Bromham Road, Bedford
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