4 bedroom detached for sale

£795,000 Guide Price

4

Bedrooms

3

Bathrooms

Floorplan

A period stone cottage with a modern contemporary two storey extension offering substantial accommodation situated in a superb elevated position within 0.93 acres of sloping gardens, patio with views and large double garage with office/store over.


A truly fabulous home which has had a large two storey extension added in 2014 by the current owners which blends period features and contemporary design perfectly. Part of the property has the potential to be a holiday let and offers extra income, space for a growing family or multi-generational living. The original part of the property which was a stone cottage benefits from many period features including beams, flagstone floors and an inglenook fireplace. The accommodation includes on the ground floor a hallway, stairs to the first floor, lounge, dining room, a family bathroom, a kitchen and a large utility room. There is also access to the newer part of the property through a door from the dining room. On the first floor there are three double bedrooms and access to the modern extension via a landing and a jack and jill wet room.

The modern end.
On the ground floor there is a hallway with stairs off to the first floor with full height windows, access to the patio, door off to a modern wet room and access to a large living room with free standing wood burning stove and access to the grounds outside. The property has lots of light flowing through with many of the rooms having double or triple aspect windows.

Summerlands further benefits from full double glazing in the modern end and a mixture of double and single glazed windows in the older end. The property has oil fired central heating with radiators throughout.

Summerlands occupies an elevated position commanding excellent views across the Harcombe valley and is set in a designated Area of Outstanding Natural Beauty. The property is situated a short distance from Lyme Regis on the Devon/Dorset border which is perhaps most famous for the Cobb, which features in Jane Austins Persuasion, the Dramatic Coastal footpath and the undercliff made famous in the book and the film with The French Lieutenants Woman written by John Fowles. Much of the undercliff is of special scientific interest and is managed as a national reserve by English Nature. In addition, most of the coast line in this area is in the ownership of the National Trust. The cliffs are rich in fossils, and the whole coast has recently been awarded international recognition as a World Heritage site and is known as the Jurassic Coast. Lyme Regis is within a short distance and provides a wide range of educational, recreational and shopping facilities including banks, post office, library, health centre, museum, book shops, hotels, inns and restaurants.
The County Town of Dorchester, about 26 miles to the east, and Exeter, about 33 miles to the west, provide a wider range of cultural, educational, recreational and shopping facilities. The property is well placed to take advantage of the excellent sailing and watersports facilities to be enjoyed along the coastline.

The property is approached via a lane, up the long sweeping private drive to a parking area for several cars. There is a small patio with a brick built barbeque over looking the small valley. The gardens run to the east and south from the house, laid mainly to lawn with a number of specimen trees and shrubs as well as some attractive flower beds. To the north and east of the gardens the property adjoins woodland giving a sheltered position with a sunny south facing position. Please note a footpath runs along the northern boundary. The garden also includes a productive growing area with four raised beds and a greenhouse.

AGENTS NOTE
In 2019 the current owners had planning permission for a summerhouse to be built In the garden. Although never completed footings were put in. (18/2774/FUL).

GARAGE/OFFICE
Off the parking area is a large double garage with two wooden doors opening outwards as well as a covered log store and side pedestrian entrance. The first floor to this building is used as an office and is accessed from the rising garden to the rear of the building.

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

£ 658575

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 19875
  • 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

£ 62325
  • 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.

£

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
    £

    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

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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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