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£1,250,000 Guide Price
LARGE SHOP FOR SALE WITH LOADING BAY AND FULLY SEPARATED UPPER PART with a total floor area of nearly 7,000 sq ft (not verified). The property is located on a busy High Street close to Norwood Junction Station and all general amenities. The shop floor area has cleared space with no pillars and measures towards 3000sq ft with further space at the rear and above on the first floor. We are told the property was built to its present lay out by Tesco in 1962 and w as constructed to a high structural standard with a new roof being added approx. 2 years ago, across the whole premises. The loading bay area to rear, front on to St Dunstans Road giving easy access for on/off loading. This property is sold Freehold or there is a possibility of Leasing - ask for further details.
FRONT SHOP Close to 3000 sq ft open space - no pillars, glass front with shutter.
LOADING BAY AREA Opens t o St Dunstans Road, there is a lift to first floor plus staircase, large loading area.
FIRST FLOOR REAR Large open space ideal storage area with access to toilets and the various front rooms.
SELF CONTAINED AREA AT FRONT Dedicated stairs up from street level, very large multi roomed area which could possibly be converted to flats subject to planning consent.
Call for further details
Tenure : Freehold
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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