Grove Road, Lee-On-The-Solent, Hampshire, PO13

1 /11
Available / For Sale

4 bedroom detached for sale

£625,000 Guide Price

4

Bedrooms

2

Bathrooms

Floorplan

A rare opportunity to purchase a modern 4 bedroom, 3 reception detached home located incredibly conveniently for shops and the beach and seafront. Local schools are within easy walking distance and with access to the Alver Valley country park, also a stones throw, this superb location is sure to be popular. The property is being offered for sale chain free and ready for immediate occupation.

The accommodation comprises:

Double glazed front door set under a tiled and pitched canopy to:

Entrance Hall:
Adjacent double glazed window, matwell and fitted carpets, stairs to the first floor accommodation, useful under stairs storage cupboard with meters, two ornately opaque double glazed windows to the side and coved ceiling.

WC:
Comprising of WC, wash hand basin and radiator.

Dining Room: 118 x 117 (3.56m x 3.53m)
With a double glazed bay window to the front elevation and ample space for a good size dining suite. There is a coved ceiling and radiator.

Living Room: 156 x 118 (4.72m x 3.56m)
Positioned neatly at the rear of the property, there are double glazed French doors that offer a vista of the rear garden. There is a coved ceiling, radiator and a timber fire surround with fitted electric fire.

Family Room & Kitchen:

Family Room Area: 146 x 110 (4.42m x 3.35m)
With wood plank flooring which extends, we believe, beneath the carpets in other rooms. There is a double glazed window to the side plus radiator and ample space for comfortable furniture, further dining table and chairs etc. To one wall is a built in cupboard housing the hot water boiler. There is a coved ceiling and ceiling downlighters. An open plan arrangement leads into the:

Kitchen Area: 141 x 81 (4.29m x 2.44m)
The kitchen is well stocked with a range of wooden fronted units, contrasting work surfaces and contemporary chrome furniture. There is a built in twin oven plus gas hob, roll top work surfaces and a single drainer stainless steel sink unit with mixer tap above. There is cornice lighting, coordinating glass and chrome cooker hood, ceiling downlighters and coved ceiling. It also has an integrated fridge and freezer plus plumbing for an automatic washing machine.

First Floor Landing:
A feature arch ornate opaque glass double glazed window, access to loft space, spindle and balustrade feature, built in airing cupboard with double doors, cylinder and shelving.

Bedroom 1: 155 x 118 (4.70m x 3.56m)
A spacious double with double glazed windows to both rear and side elevations, two built in two-door wardrobes, coved ceiling, radiator and access to:

Ensuite Shower Room: 63 x 49 (1.90m x 1.44m)
Comprising of enclosed shower cubicle, pedestal wash hand basin, WC, radiator and coved ceiling.

Bedroom 2: 118 x 118 (3.56m x 3.56m)
A double glazed window to the front elevation, radiator, coved ceiling and built in 2 door wardrobe.

Bedroom 3: 130 x 82 (3.96m x 2.49m)
With a double glazed window to the rear elevation, coved ceiling and radiator.

Bedroom 4: 89 x 88 (2.67m x 2.64m)
With a double glazed window to the front elevation, radiator, coved ceiling and built in wardrobe.

Bathroom: 110 x 49 (3.35m x 1.44m)
Comprising of panel bath and separate enclosed glazed shower cubicle with fitted chrome shower on a coordinating riser. There is a pedestal wash hand basin and WC, coved ceiling and a further mixer shower above the bath and splashback tiling. There is a double glazed window to the side and a chrome ladder style radiator.

Outside:
The front of the property has thoughtfully laid to block paving to create ample off-road parking. There is side pedestrian access via a timber gate leading to the rear garden and partial brick boundary enclosures with timber fencing adjoining the neighbour.

Rear Garden:
A lovely feature of the property is the rear garden which provides a good size patio and path leading the garage at the rear, lawned area and raised flower and shrub beds plus brick wall elevations to one side. There are timber boundary enclosures to the rear and right hand flank.

Garage:
Of brick construction with a vehicular up and over door, power and light plus courtesy door. Access to the garage is via Petrie Road.

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

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  %
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£
  %

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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