2 bedroom apartment for sale

£690,000

2

Bedrooms

2

Bathrooms

Floorplan

This incredibly special and exceptional apartment in The Laboratory building, is quite unique with seven large windows facing directly onto the rose gardens.

The Lab is a fine example and notable Art Deco building which dates to the 1930s forming part of the New River Head, which was the headquarters of the Metropolitan Water Board.

Designed by the architect John Murray Easton who, in 1955 was awarded the Royal gold medal for his contribution to architecture by the Royal Institute of British Architects on behalf of the British monarch, this Grade II listed building is iconic as well as one of the most recognised in the area.

It incorporates many of the distinguished qualities associated with Art Deco such as vertical clean lines, large windows, bold geometric forms, classical elements and rich materials. Art Deco is associated with glamour, luxury and fine craftsmanship, in fact nothing about Art Deco was inexpensive, it was a celebration of modernity and progress.

The buildings entrance is adorned by a glamorous and wide, galleried circular staircase with the ceiling above retaining the original artwork of Aquarius the water carrier of Greek mythology and impressive constellation.

Located on the first floor with a Southerly aspect, it has exceptionally high ceilings with the accommodation comprising a reception room with a mezzanine offering excellent storage space, a separate kitchen, principal bedroom with ensuite bathroom and second bedroom and guest shower room.

The apartment also has the advantage of a secure off street parking space, day porter and access to the Rose Gardens.

The Lab Building forms part of the New River Head residential development, of which the site is of considerable historic importance, developed by Sir Hugh Myddleton a goldsmith, as a source of providing fresh drinking water for London.

Exmouth market with its superb restaurants and shops is moments away as is Sadlers Wells and there are good local transport links with Angel underground (Northern line) and Farringdon (Hammersmith & City, Circle, Metropolitan and Elizabeth lines) a short walk away.

Located on the corner of Rosebery Avenue and Arlington Way, conveniently positioned for access to the City, West End, Islington and Clerkenwell.

With great shopping and tremendous diversity of acclaimed restaurants, bars, galleries and wine bars the area remains one of Londons best kept secrets.

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

£ 571950

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
    £ 17250
  • 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

£ 54450
  • 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.

Notes

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