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£500,000 Guide Price
FREEHOLD RETAIL AND RESIDENTIAL OPPORTUNITY!! Edward Clark Estates have immense pleasure to offer for sale this unique opportunity to acquire this mixed use freehold property, situated within this frequently requested residential area of Stifford Clays being close by to local shops, bars and amenities. The property comprises of commercial retail shop front, with two additional two bedroom apartments which are currently rented on an assured shorthold tenancy. Strictly by prior appointment with Edward Clark Estates on .
Door Leading To:
Commercial Retail Shop Front -
Area One: - 2609 x 2007 (8.15m x 6.27m) -
Area Two: - 2103 x 1505 (6.48m x 4.70m) -
Utility Room: - 604 x 405 (1.93m x 1.35m) -
Area Three: - 3108 x 1505 (9.65m x 4.70m) -
Rear Shop First Floor -
Fitted Kitchen: - 1202 x 905 (3.71m x 2.87m) -
Possible Studio/Bedroom Area: - 1203 x 1103 (3.73m x 3.43m) -
W/C -
First Floor Apartment -
Entrance Hall -
Fitted Kitchen: - 1308 x 611 (4.17m x 2.11m) -
Lounge/Diner: - 130 x 1211 (3.96m x 3.94m) -
Masted Bedroom: - 1209 x 1204 (3.89m x 3.76m) -
Bedroom Two: - 1203 x 803 (3.73m x 2.51m) -
Family Bathroom -
Second Floor Apartment -
Entrance Hallway -
Fitted Kitchen: - 1308 x 611 (4.17m x 2.11m) -
Lounge/Diner: - 130 x 1211 (3.96m x 3.94m) -
Master Bedroom: - 1209 x 1204 (3.89m x 3.76m) -
Bedroom Two: - 1203 x 803 (3.73m x 2.51m) -
Family Bathroom -
Income - Commercial Retail Shop Front - Occupied 12,000 per annum 10 year lease with 7 Years remaining and rent review set for February 2019.
2 x Apartments - occupied on an assured shorthold tenancy.
Business Rates - Rateable Value (TBC)
Services - Although we are advised that the unit benefits from main services, we would recommend that all interested parties check with the relevant statutory authorities as to the existence, adequacy or otherwise of these.
Legal Costs - Each party to be responsible for their own legal costs incurred.
Viewings - Strictly by prior appointment with Edward Clark Estates on .
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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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