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64 Newland Street, Witham
£995,000
Bedrooms
Bathrooms
Thought to date back to the 18th Century, Villa Farm offers plenty of scope to create a stunning four bedroom family home set in a plot of approximately 7 acres.
Coming to the market for the first time in over 70 years, this unlisted property requires modernisation and benefits from numerous outbuildings which could be ideal for storage, equestrian use or provide potential for re-development, subject to the necessary planning consents.
Villa Farm is perfectly placed for practical living, located on the outskirts of Tiptree in a semi-rural setting and offering plenty of potential to prospective purchasers.
A central front door leads to the entrance hall, with stairs rising to the first floor and a door through to the main reception room which is currently used as the sitting room. There is a bay window to the front, fireplace and door providing access to the kitchen/breakfast room. This generously proportioned room is at the centre of the home and has a working Aga, with windows to the rear and doors leading to the utility room, dining room and out to the rear garden. There are three handy outbuildings which are easily accessible from the kitchen and ideal for storage.
The dining room features a bay window to the front with an exposed red brick inglenook fireplace with a door leading into a further reception room. This benefits from a dual aspect and has been used as a ground floor bedroom, with direct access to a bathroom. The property also has a small but perfectly formed basement which could also be used for storage.
The first floor landing gives access to four good size bedrooms and a half bathroom. Bedrooms one and two are set to the front of the property, both with glazed windows allowing an abundance of natural light. The second bedroom has a good size storage area which could be utilised as a dressing room and the third and fourth bedrooms are to the rear. The first floor concludes with the half bathroom, which currently has a wash hand basin and wc with space for a bath/shower.
Outbuildings
Villa Farm benefits from an extensive array of outbuildings, some of which have structural issues but offer potential for a multitude of uses, subject to planning.
Outside
The formal side and rear gardens are predominantly laid to lawn with a variety of mature shrubs and trees enclosed by hedging. The courtyard offers ample parking and gives access some of the immediate outbuildings.
The paddocks to the side are ideal for grazing and total approximately 6 acres, there is also vehicular access which is ideal for equestrian use. Immediately opposite Villa Farm there is a separate paddock, again mainly laid to lawn, which is perfect for grazing or could present a development opportunity, subject to the necessary planning consents.
Location
Tiptree is a thriving village with a variety of shops serving day to day needs, with social and educational facilities. Although Tiptree is surrounded by countryside there is also immediate access to the A12 which leads to Colchester, Chelmsford, the M25 and London.
The nearest mainline stations offering direct links to London Liverpool Street are Kelvedon (2.8 miles) and Witham (3.3 miles). Within a short distance are the larger towns of Maldon, Colchester and Chelmsford all of which offer a wide range of facilities.
The attractive maritime town of Maldon is one of the oldest recorded towns in Essex, boasting both local and national stores as well as quaint tea rooms, historic pubs and a mixture of restaurants. The property is close to the Blackwater Estuary and River Crouch. With its vast coastline the area is very popular for sailing enthusiasts and undertaking other water sports.
Directions
Please use the postcode CO5 0QN for SatNav.
Important Information
Council Tax Band - F
Services - We understand that mains water, drainage and electricity are connected to the property with oil fired central heating.
EPC rating - F
Tenure - Freehold
Ref - TOL230292/DJN
Agents note
We understand that to the east side of the plot, the neighbouring property has a right of easement for vehicular access to their property.
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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