2 bedroom cottage for sale

£525,000 Guide Price

2

Bedrooms

1

Bathrooms

Floorplan

A renovated and beautifully presented cottage, perfectly situated in a quiet lane a few yards from the common, marketplace and sea front of this charming coastal town. Southwold is an extremely popular seaside town situated on the Suffolk Heritage Coast, a designated area of Outstanding Natural Beauty. Southwold is characterised by its variety of Regency and Victorian architecture, bordered by a large common, sandy beach with pier, numerous greens and working harbour with a number of wet fish shops situated at the mouth of the river Blyth. Southwold has an excellent range of High Street and boutique shops as well as a large selection of leisure amenities including golf and sailing clubs. The surrounding area is renowned for its coastline and countryside with excellent leisure pursuits which include the RSPB Reserve at Minsmere.

Description - Black Cottage is a charming period cottage of exceptional quality, situated a few paces from the common, marketplace and beach, the perfect location in the heart of the Conservation Area to explore this characterful coastal town. Thoughtfully renovated to a high standard, nestled in a quiet lane located in the heart of the town, step inside to find a welcoming Shaker-style kitchen, complete with integrated appliances. A step up leads to the spacious sitting/dining room, where dual aspect windows fill the space with natural light, and French doors open to a small south-facing courtyard. An attractive brick open fireplace adds character and a focal point. The 10 step winder staircase leads to the first floor. The ground floor is completed by a convenient cloakroom.

Upstairs, the landing provides access to two generously sized double bedrooms, one featuring additional storage, along with the well appointed family bathroom.
To the rear of the property is a small but charming south-facing courtyard, offering a peaceful outdoor retreat. External access is available via a passageway, and neighbouring cottages have a right of way through the courtyard.

Black Cottage boasts a wealth of quirky and characterful features and is currently operated as a successful holiday let. With its prime location in Southwold, it would make an ideal getaway or a perfect holiday home.

Tenure - Freehold.

Outgoings - Council Tax Band currently deleted.

Services - Mains gas, electricity, water and drainage.

Agents Note - Return in excess of 5% of property value via holiday let bookings. Lettings figures available. Contents to enable the continuation of holiday letting available subject to negotiation.

Viewing Arrangements - Please contact Flick & Son, 8 Queen Street, Southwold, IP18 6EQ for an appointment to view.
Email:
Tel: Ref: 20794/RDB.

Fixtures & Fittings - No fixtures, fittings, furnishings or effects save those that are specifically mentioned in these particulars are included in the sale and any item not so noted is expressly excluded. It should not be assumed that any contents, furnishings or furniture shown in the photographs (if any) are included in the sale. These particulars do not constitute any part of any offer or contract. They are issued in good faith but do not constitute representations of fact and should be independently checked by or on behalf of prospective purchasers or tenants and are furnished on the express understanding that neither the agents nor the vendor are or will become liable in respect of their contents. The vendor does not hereby make or give nor do Messrs Flick & Son nor does any Director or employee of Messrs Flick & Son have any authority to make or give any representation or warranty whatsoever, as regards the property or otherwise.

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

£ 435825

Mortgage Loan to Value

%

Gross Yield

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Annual ROI

%

Annual Rental Profit

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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
    £ 13125
  • 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

£ 42075
  • 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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