2 bedroom apartment for sale

£625,000 Guide Price

2

Bedrooms

2

Bathrooms

Floorplan

This stylish two bedroom ground and lower ground floor apartment with 'wrap around' gardens and gated car parking enjoys a convenient location within close walking distance of the town centre and an unrivalled range of amenities.

Arden Grange is an impressive Victorian semi-detached residence in an established town centre street scene and Apartment 1 is a spacious and sympathetically converted dwelling comprising the ground and lower ground floor areas along with gardens and a privately owned rear courtyard.

The principal accommodation at ground floor level provides over 1520 sqft of tastefully appointed rooms with many period features; approached via a communal reception hall.

A private dining hall then leads to an elegant sitting room, a well-appointed breakfast kitchen with utility room, a large double bedroom with its own ensuite bathroom and a further double guest bedroom served by a house shower / cloakroom.

At lower ground floor level a suite of rooms in excess of 920 sqft provides excellent bonus space with ceiling heights averaging 66'; accessed via an internal staircase and a rear entrance door with a large snooker / playroom, home office space, wine store, cloakroom and excellent storage space - there are many permutations subject to relevant building regulations approvals.

Apartment 1 owns the entire front side and rear gardens; the former being attractively landscaped with ease of maintenance in mind and screened by mature hedgerows. A gated rear courtyard provides secure off road car parking and additional amenity space.

The discerning buyer seeking ease of access to Harrogate town centres excellent shops and bars / restaurants couldnt be better positioned with nearby bus services serving Leeds and Ripon and the railway station a healthy walk away !

Proceeding from the town centre on the A61 Ripon Road turn right on the brow of the hill by the Majestic Hotel onto Springfield Avenue where Arden Grange will be idetified on the left hand side.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 518325

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 15625
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 49575
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

  %
  %
£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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