3 bedroom penthouse for sale

£695,000 Guide Price

3

Bedrooms

3

Bathrooms

Floorplan

HOUSE & SON: Rare opportunity to purchase, this sea view Penthouse Apartment within Marchwood; a superb purpose development located on the ever popular East Cliff, located just a few moments away from the cliff top and beach access points. A most impressive property, offering over 1800 square feet of spacious accommodation, with three bedrooms, three bathrooms, not to mention those two amazing roof terraces and wonderful sea views!

The larger roof terrace stretches to over 31ft, faces south and offers the perfect place for entertainment and alfresco dining in the sunshine! From here you may enjoy the most wonderful panoramic town and sea views that span from the Isle of Wight in the east, towards the Purbecks and Poole Harbour in the west.

This stunning home features spacious and well planned accommodation, which comprises of an impressive reception hallway; a superb sitting room which loops round to the semi-open plan kitchen diner. The lounge offers a dual aspect with views to the sea and the Isle of Wight to the east and large sliding patio doors with south sea views and access onto the larger south facing private roof terrace.

The fitted kitchen dining room also enjoys the same south sea views and a further set of large sliding patio doors out onto the large sun terrace. Usefully there are large storage cupboards in the hallway and also a separate office/study which has a floor to ceiling picture window with fine sea views to the east and of the Isle of Wight.

The master bedroom suite has sea views and a features a large ensuite bath/shower room with a corner bath and a separate shower cubicle. The bedroom has ample storage with wardrobes extending along one wall and there are sliding patio doors out to a second sun balcony, also with fine sea views. There are two further double bedrooms, and two further family bathrooms.

This Penthouse also has the added benefit of a long Lease and Share of the Freehold; secure lock up allocated underground parking, ample storage and a passenger lift into a private lobby. The property is being offered with no forward chain and must be viewed to be fully appreciated; via the Sellers Sole Selling Agent.

COMMUNAL ENTRANCE

ENTRANCE HALL 33 0' x 5 2' on average (10.06m x 1.57m)

LOUNGE/DINER 28 2' x 15 0' (8.59m x 4.57m)

KITCHEN/BREAKFAST ROOM 24 3' x 6 7' widening to 10 7' (7.39m x 2.01m to 3.23m)

MAIN TERRACE 31 7' x 13 3' (9.63m x 4.04m)

OFFICE - L- SHAPE 7 10' x 4 9' plus 12 8' x 3 7' (2.39m x 1.45m + 3.86m x 1.09m )

BEDROOM ONE 19 0' to 17 8' x 12 10' inc wardrobes (5.79m to 5.38m x 3.91m)

ENSUITE 12 9' x 7 1' (3.89m x 2.16m)

BALCONY TERRACE 13 8' x 9 1' to 4 3' irregular shape (4.17m x 2.77m to 1.3m)

BEDROOM TWO 15 1' x 10 5' inc wardrobes (4.6m x 3.18m)

BEDROOM THREE 13 0' x 9 1' exc wardobe (3.96m x 2.77m)

LUXURY BATHROOM 6 10' x 6 2' (2.08m x 1.88m)

SHOWER ROOM 6 1' x 4 7' (1.85m x 1.4m)

OUTSIDE - COMMUNAL GARDENS Beautifully maintained communal grounds with a driveway leading to the secure underground allocated parking area and a visitors parking area to the front.

UNDERGROUND PARKING Secure underground allocated parking.

TENURE AND CHARGES Leasehold with a Share of Freehold

Service Charge payable quarterly ( TBC)

Council Tax band F

EPC Rating: E

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

£ 576075

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

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
    £ 17375
  • 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

£ 54825
  • 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

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This is the property value at the end of the investment based on an assumed rate of % house price inflation.

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