Mill View, Bromley Road, Colchester, Essex

1 /12
Available / For Sale

4 bedroom detached for sale

£1,275,000

4

Bedrooms

3

Bathrooms

Floorplan

'' FINAL PLOT AVAILABLE AT MILL VIEW '' Mill View in an exclusive, secure gated development of just 8 stunning modern properties created by highly regarded Seven Developments. Following the overwhelming success of Phase 1, they are now offering limited opportunity to acquire one of the last remaining plots on this prestigious development. Highlights of Phase 2 are the extra basement level, providing additional living space and versatility. Additionally, the extended mezzanines, larger kitchens, carports and sun terraces, all whilst offering the same high end finishes appreciated by our 6 six new home owners. Key Features of Phase 2 Homes:
Internal Space: These properties benefit from a generous 2697 internal square footage, providing ample space for comfortable living. Luxury Kitchens: Featuring the same high-end Nicholas Anthony kitchens as Phase 1, including Quooker boiling tap, and Siemens appliances. Heating: Enjoy the comfort of underfloor heating throughout. Energy Efficiency: Equipped with solar panels and boasting an energy efficiency rating of A, these homes are designed with sustainability in mind. Fire Pit Provisions: Both indoor and outdoor fire pit provisions are included, perfect for cosy evenings. Electric Car Charging: Each home comes with electric car charging facilities. Bespoke Staircases: Custom-designed staircases add a touch of elegance and uniqueness to each home. Car Ports: As in Phase 1, these homes include car ports. Plots 7 & 8 boast extended car ports and sun terrace. Basement Level: An added basement level features an open study space, bedroom, and shower room, offering extra living space and versatility. Available Plots: 2 remaining Plot 7: Currently configured as a 4-bedroom home with a walk in dressing room, this plot can be adapted to a 5-bedroom layout if desired. This plot includes a larger car port, providing additional convenience and sun terrace. Plot 6: A spacious 5-bedroom home, perfect for larger families or those needing extra space. Gated Community:These homes are located within a secure, gated development, ensuring privacy for residents. The excellent transport links and superb rural setting offer the best of both country and city living, making these properties ideal for both business and pleasure. With only two homes remaining, dont miss out on this opportunity to invest in a home that combines luxury, sustainability, and practicality.

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

£ 1059575

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

£

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
    £ 31875
  • 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

£ 103325
  • 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

Adjust these figures

  %

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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