2 bedroom detached bungalow for sale

£225,000 Guide Price

2

Bedrooms

2

Bathrooms

Floorplan

In the early 1990s work commenced on a new doctors surgery and pharmacy in Threshers, Crediton. A stunning contemporary design that won a number of prestigious awards. The modern buildings were designed to compliment their surroundings, the main section of the pharmacy disappearing into the landscape with the unique turret creating a light filled interior. Some 30 years later, with the expansion of the town and larger premises needed, the surgery and pharmacy were relocated to a new larger site. The pharmacy, a detached property set into the hillside with a living roof and stunning circular turret has gained permissions to convert to a detached dwelling. Comprising of 2 bedrooms and 2 bathrooms, plus an open plan kitchen/dining/living room opening onto the gardens to the south side, its unique design is sure to attract a range of buyers from occupiers to developers. Its in a wonderful Western town location with the bus stop nearby and the parking, front garden and dwelling all on the level (the bank behind has the benefit of a number of beautiful mature established trees and offers a wonderful natural feeling to the site). This is an amazing opportunity to create your unique mini grand design in a great location that will appeal to many. The suggested layout could be altered to suit (stp) and it may be possible to extend but planning permission would need to be sought. Offers are invited for the freehold purchase of the site with vacant possession.

Buyers Compliance Fee Notice

Please note that a compliance check fee of 25 (inc. VAT) per person is payable once your offer is accepted. This non-refundable fee covers essential ID verification and anti-money laundering checks, as required by law.

Please see the floorplan for room sizes.

Current Council Tax: Band TBC Mid Devon

Approx Age: 1990s original build

Construction Notes: Standard

Utilities: Mains electric, water, telephone & broadband

Drainage: Mains

Heating: None

Listed: No

Conservation Area: No

Tenure: Freehold

Planning Reference: Mid Devon 24/01272/PNCOU

CREDITON: An ancient market town, with a contemporary feel only a short, 20-minute drive NW from the city of Exeter. Set in the Vale of the River Creedy, amongst gentle, rolling hills and verdant pastures. Sincerely picture postcard. Once the capital of Devon, Crediton is famed for its inspiring sandstone church and for being the birthplace of Saint Boniface in 680 AD. Its high street is a vibrant place, abuzz with trade artisan coffee shops, roaring pubs, a farmers market and bakeries, jam-packed with mouthwatering delights. For those commuting it has hassle free transport links into Exeter and for schooling a prestigious secondary school with sixth form (Queen Elizabeths). In addition, it boasts a brilliant gym and leisure centre for New Years resolutions, three supermarkets for the weekly shop and a trading estate for any practical needs. All neatly held in a single valley.

DIRECTIONS : For sat-nav use EX17 3JJ and the What3Words address is ///gliders.euphoric.certainly but if you want the traditional directions, please read on.

From Crediton High Street, head towards The Green and at the lights, bear left into Landscore. Take the next right (at the fork) into Threshers and go all the way to the bottom, pass Landscore school on your left and then take the next driveway on the right.

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

£
£
£
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Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 177075

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
    £ 5625
  • 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

£ 8325
  • 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

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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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