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£560,000 Offers over
Bedrooms
Bathrooms
Prime development opportunity in Penylan, Cardiff. Convert this expansive property into 6 apartments (5 two-bedroom and 1 one-bedroom). Approved plans (ref: 20/01176/MNR) in place. Currently a 9-bedroom HMO. Located in a sought-after area, close to amenities. A lucrative investment awaits.
Description - Unlock the potential of Penylan with this exceptional development opportunity. Currently operating as a 9-bedroom HMO, this expansive property is primed for transformation. With approved plans (reference 20/01176/MNR) already in place, envision a development of 6 individual apartments, comprising 5 two-bedroom units and a single one-bedroom unit, spread across three floors.
Located in the heart of Penylan, Cardiff, this property offers more than just bricks and mortar; it offers a lifestyle. Future residents will revel in the historic charm of Penylan, with Roath Park Lake and gardens, and a plethora of unique eateries just a short stroll away. The convenience of city living is balanced with the tranquility and community spirit that Penylan is renowned for.
The propertys generous plot size of 0.11 acres ensures ample space for each unit, with potential for landscaping and communal areas. Additionally, the no onward chain status ensures a smooth transition for developers eager to embark on this project.
In an area where demand for quality housing is high, this development opportunity is not just an investment in property, but an investment in the future of Penylan. Whether youre an established developer or looking for your next project, this property promises a return on investment both financially and in the lasting legacy it will provide to the community.
The vendor has informed us that the development was valued by Savills back in 2020 at 1,700,000.
Please Note - All buyers are required to complete a digital Anti-Money Laundering (AML) check via MoveButler as part of the legal compliance process. This is a mandatory requirement, and a 20 fee per person is payable directly to MoveButler. The purchase cannot proceed without successful completion of this check.
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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