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£700,000
Bedrooms
Bathrooms
We are pleased to offer this ''Investment Sale ''of a spacious 2 bedroom fully furnished apartment located in this modern development in the heart of Westminster. This accommodation measures at 694sq.ft (64.5sq.m) and comprises of an open plan integrated kitchen and reception room with access to a private balcony, 2 bathrooms (1 en-suite) and two double bedrooms with the second currently configured as an office. Residents of 10 Rochester Row benefits from a gymnasium, daytime concierge service and the property includes a secure underground parking space. Rochester Row is conveniently located for easy access to the transport services of St Jamess Park, Westminster, Victoria and Pimlico which are all within walking distance. There is an abundance of local amenities including a variety of retail stores along Victoria Street with the Curzon Cinema and many restaurants including the Ivy Bar and Grill and Yaatra based in the Old Westminster Fire Station. The transport links of St Jamess Park, Westminster and Victoria are all within walking distance. Garton Jones manage this apartment and are located close by so are readily available for viewings. The annual rental income is 33,800 per annum and the tenancy expires on the 30/03/2026 (4.8% gross yield).
Leasehold: 150 years from 2010 plus Share of Freehold
Service Charge: 5650 Per Annum
Council Tax Band F (London Borough of Westminster)
EPC Rating: C (77)
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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