4 bedroom detached for sale

£899,500 Guide Price

4

Bedrooms

3

Bathrooms

Floorplan

Part of the Signature collection and set back through a gated entrance within grounds approaching half an acre are 3 dwellings with the principal residence a bespoke flexible three/four bedroom detached house with 2 one bedroom dwellings within the front courtyard suitable for a variety of uses.

The properties are presented in excellent order having been considerably modernised by the current owner who uses the smaller dwellings as successful Airbnbs but in the past the properties have been put to commercial use.


Caterpillar Cottage
Found at the back of the courtyard this bespoke house was built by previous owners of The Old House who were looking to downsize. The property has an entrance hall with stairs leading to the first floor and behind a curved wall is the cloakroom with WC and wash hand basin. At the front is the sitting room with 20 high vaulted ceiling with exposed timbers and feature lighting. This dual aspect room has French doors out to the terrace and a central fireplace.

Also off of the hall is the kitchen/dining room running front to back with a door leading out to the garden. At one end is the kitchen with quartz work surfaces with ample base units and wall mounted cupboards. Built-in appliances include a dishwasher, eye level double oven, integral fridge and freezer whilst in the corner is a walk-in pantry. The central island has base units and space for stools and a wine cooler, whilst there is a four ring electric hob with drawdown extraction, at the other end of the room is a circular dining table.

A door leads through to the side hallway with a storage cupboard housing the mega-flo tank and a door through to the garage. The utility room has work surfaces, a ceramic sink, plumbing for a washing machine, space for a tumble dryer and a useful broom cupboard. The study has been fitted with a built-in cupboard and desk but could be used as a fourth bedroom. The principal bedroom has a range of built-in wardrobes and French doors out to the garden. A door connects to the en-suite with a walk-in shower with seat, vanity unit wash hand basin and WC.

On the first floor is a large landing with ample space for furniture. The second bedroom is an excellent double with two sets of double door wardrobes and a dual aspect. A door connects to an en-suite shower room with walk-in shower with seat, vanity unit wash hand basin and WC. The third bedroom again is a double room with walk-in wardrobe and like the other bedrooms has a sliding door through to a large en-suite bathroom with bath, walk-in shower, wash hand basin and WC.

The Cabin
This detached one bedroom dwelling has LPG heating and its own entrance from the rear through a private garden. The property comprises of a sitting room, kitchen, bedroom and a large en-suite bathroom.

The Studio
Found at the front of the plot with its own fenced rear garden, The Studio has been converted by the current owner as an attached one bedroom dwelling with electric heating. It is approached through a private garden and has a sitting room, kitchen, shower room and bedroom.

Both dwellings are found in the courtyard at the front of Caterpillar Cottage with the courtyard providing a large shingled parking area for multiple cars. The Old House next door has a right of way through the wooden gated entrance to all three dwellings with further gates before The Cabin through to the rear of The Old House.

The Cabin and Studio are currently used for an Airbnb business and could be suitable for independent living for relatives of Caterpillar Cottage or potential commercial use subject to any consents.

Outside
Caterpillar Cottage is screened from the courtyard by a large tree with parking at the front leading to the attached double garage with electric up and over, eaves storage above, a further recess area housing the gas fired boiler and stable doors to the outside. There is gated access to both sides of the property round to the rear garden which has a large paved area with entertainment area and picket fence through to the main garden with paved terrace leading out to lawns with mature hedged and tree borders.

Halfway down the garden is a shed and further outhouse with the rear of the garden currently left to nature. In total the plot extends to half an acre.


Location

Aldham is a village to the west of Colchester with a church and primary school and variety of specialist businesses including a garden centre and Antiques caf. Ford Street is part of the A1124 and has excellent access back to Colchester and the A12 at Stanway where there are retail parks and supermarkets. There is a straightforward road from Aldham through to the neighbouring village of Marks Tey where the main railway line to London Liverpool Street is found.

Further educational facilities can be found in Colchester with a variety of state and private schools mainly based on the west side of Colchester including the Royal Grammar School, Boys and Girls High Schools, St. Marys and Holmwood House. Wider education includes a sixth form college, Colchester Institute and the University of Essex.

Directions

Please use postcode CO6 3PH with the properties set back from the road through a gated entrance with intercom between The Bunches and The Old House just after the turning into New Road.

Important Information

Services Mains water, electricity and drainage are connected to the property whilst the gas heating is from an underground LPG tank.
Council Tax Band F
EPC rating D
Tenure Freehold



Features
  • Freehold

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

£ 744787.5

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
    £ 22487.5
  • 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

£ 70162.5
  • 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.

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Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

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Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

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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

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  • Final Equity Profit
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    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
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    Cumulative Rental Profit = Annual rental profit x Time of Investment

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Final Property Value

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