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118 High Street, Lee-On-The-Solent, Hampshire
£595,000
Bedrooms
Bathrooms
Eckersley White are pleased to offer for sale this Penthouse apartment at Drake Court. Boasting a lift directly into the apartment, the property also benefits from 3 bedrooms, 3 bathrooms and undisturbed Solent & Isle of Wight views. This variety and size of seafront home is rare for the area.
The accommodation comprises:
Communal front door to:
Ground Floor Hallway:
With stairs and lift to all floors. A feature of this penthouse apartment is that lift access is directly into its own hallway via a private key system.
Entrance Via Front Door into:
Entrance Hall: 204 long (6.2m long)
Loft hatch, lift directly into the entrance hall, doors to lounge/diner, three bedroom, kitchen, bathroom, two built-in cupboards, radiator and telephone entry system.
Lounge/Diner: 205 x 118 (6.22m x 3.56m)
Coved ceiling, double-glazed window to front aspect, double doors leading to the kitchen, French doors leading to the balcony with sea and Isle of Wight views and two radiators.
Kitchen: 155 (4.7m) max x 82 (2.49m)
Obscure double-glazed window to side aspect, fitted kitchen and roll top worksurfaces, integrated electric oven and microwave, integrated Neff hob with extractor hood over, integrated fridge and freezer, integrated dishwasher and washing machine, sink with mixer tap over and an additional hot tap, water softener and radiator.
Bedroom: 136 x 103 ( 4.11m x 3.12m)
Coved ceiling, double-glazed window to rear aspect, fitted wardrobes, door to en-suite shower room and radiator.
En-Suite Shower Room:
Shower cubicle with tiled surrounds, low-level WC, wash hand basin and heated towel rail.
Bedroom: 138 x 911 (4.17m x 3.02m)
Coved ceiling, double-glazed window to rear aspect, fitted wardrobes, door to en-suite shower room and radiator.
En-Suite Shower Room:
Double shower cubicle with tiled splashbacks, low-level WC, wash hand basin and heated towel rail.
Bedroom Three: 105 x 100 (3.18m x 3.05m)
Coved ceiling, double-glazed window to front aspect providing sea views and Isle of Wight views and radiator.
Bathroom:
Enclosed bath, low-level WC, wash hand basin, wall hanging cabinets and heated towel rail.
Outside:
Balcony:
From the balcony you have stunning views of the Solent and Isle of Wight.
Parking:
Double length allocated parking space and an electric car charging point.
Vendors Notes:
The lease has approximately 101 years left to run, Ground Rent - 50
Service Charge which includes buildings insurance is approximately 3,450 p.a.
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.
118 High Street, Lee-On-The-Solent, Hampshire
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