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£595,000
Bedrooms
Bathrooms
A rare development/investment opportunity comprising a substantial period residence (current use Care Home C2), three adjoining apartments with age restrictions, gardens and parking - in all over 8500 sq. ft located in one of Ripons most sought after neighbourhoods.
UNCONDITIONAL OFFERS CONSIDERED FOR THE FREEHOLD
Skell Lodge is one of Ripons finest period properties which until recently has been operated as a Care Home with the additional benefit of three self-contained apartments.
There is now the clear potential (subject to planning) for the creation of high quality apartments in one of the citys most popular and sough after tree-lined street scenes.
The main building which has been maintained in good order throughout provides over 6800 sq. ft of accommodation excluding basement and roof void with current Planning Class Use C2.
At the rear of Skell Lodge is a converted former coach house within which three one bedroom apartments are offered as part of the freehold (age restriction 55 and over Planning Class Use C3) along with the freehold interest in one further apartment which is not part of this sales package i.e. within separate ownership.
A private driveway leads to a detached garage with ornamental gardens whilst a shared drive leads to a neighbouring property and a rear courtyard accommodating the coach house covered parking and external storage. Finally, there is a front carriage driveway and ornamental borders where additional parking could be created.
South Crescent is one of Ripons most sought after addresses, with a variety of substantial detached properties with a delightful wooded area to the front of the property, whilst being very convenient for the citys varied amenities.
Ripon offers a wide variety of shops, services and leisure and recreational facilities, as well as schooling for primary and secondary ages including Ripon Grammar school.
The property is most convenient for the city which features a Racecourse and provides easy access to the beautiful Yorkshire Dales and Moors countryside. The A1 is convenient for the commuter and a number of A roads also provide access to the nearby towns of Harrogate, Thirsk and further afield.
Leave Ripons market square on Duck Hill and turn right onto Water Skellgate then at the traffic lights turn left onto Low Skellgate. Continue over Glovers Bridge and then take the second left into South Crescent. The property can then be found on the left hand side.
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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