6 bedroom detached for sale

£1,000,000 Guide Price

6

Bedrooms

4

Bathrooms

Floorplan

'Guide Price 1,000,000 - 1,100,000'

This grand Victorian-style new build, situated in Old Lexden offers over 3,200 sq ft across three floors and is finished to an exceptionally high specification. Features include a luxurious principal suite with a walk-in dressing room, high ceilings, solid oak doors, double-glazed sash windows, CAT 5 cabling, and an energy-efficient air source heat pump.

This newly built detached residence is located in the Old Lexden district of Colchester, within a short distance of the city centre and several sought after local schools.

The property is designed in a Victorian style and provides approximately 3,200 square feet of internal accommodation over three floors. The entrance features a bespoke oversized front door leading to a hallway with herringbone patterned wood effect flooring.

At the rear of the property, double doors open into an open-plan kitchen/living/dining area measuring over 28 feet with two sets of bi-fold doors opening to the garden.

The kitchen is designed by Nicholas Anthony and includes quartz work surfaces, Bosch appliances, an island with an integrated hob, a double oven, a plate warmer, and other built-in appliances.

A utility room next to the kitchen has plumbing for a washing machine and tumble dryer and access to the side of the property.

The living room has a bay window and a chimney breast. There is an further reception room is on the ground floor together with a cloakroom.

The first floor landing leads to four double bedrooms and a family bathroom comprising a free-standing bath, walk-in shower and brass fittings.

The principal bedroom on this floor has an en-suite shower room with marble-effect finishes.

The second floor contains a bedroom measuring over 28 feet, a walk-in dressing room and a bathroom with a free-standing bath and a separate walk-in shower. There is an additional double bedroom on this level.

The house has high ceilings, solid oak doors, double-glazed wooden sash windows, and CAT 5 cabling. Heating and hot water are provided by an air source heat pump. The property has a 10-year new build warranty and an alarm system.

Outside
Externally, the rear garden has a lawn, patio, outdoor tap and electrical sockets. The front of the property is bordered by a brick wall with pillars and railings and a resin driveway provides parking for multiple vehicles. A gate gives access to the rear garden.


Location

Creffield Road can be found in the heart of Lexden and is well-known for the Victorian and Edwardian houses that line the streets. There are excellent schools nearby catering for a variety of ages whilst the nearest shops are found in Crouch Street where there is a Tesco Express and Guntons Delicatessen. Wider educational facilities extend Colchester Sixth Form College, Colchester Institute and University of Essex.

The city centre has many national retailers and specialist shops with a good range of eateries and bars, two cinemas, two theatres and Castle Park. For the commuter, there are two railway stations providing mainline services to London Liverpool Street and also the coast.

Directions

Use postcode CO3 3JA for SatNav.

Important Information

Council Tax Band TBC
Services - We understand that mains water,drainage and electricity are connected to the property. Heating is provided by air source heat pump.
Tenure - Freehold
EPC rating B

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

£ 818950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

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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
    £ 25000
  • 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

£ 68950
  • 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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£
  %

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

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  %

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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