Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£2,000,000
Bedrooms
Bathrooms
A superb development opportunity for 5 front-line, holiday home properties on the North Coast between Newquay and Porth.
LOCATION
Set directly above Porth beach, this development commands wonderful panoramic sea and coastal views taking in Newquay Bay, Watergate Bay and miles of coastline to Trevose Head in the distance. This site offers possibly the best views in Newquay.
Porth beach is large sandy beach which offers both gentle bathing waters for swimming or paddle-boarding as well as low surf for body-boarding. There is direct access from the site down to the beach at low tide or a short walk at high tide. Seals can often be seen in the sea here. The cliffs that border the headland offer grandstand seats for incredible sunrises and sunsets.
To the other side of the headland is picturesque Lusty Glaze beach is surrounded by high cliffs and is one of Newquays lesser known sandy beaches. Privately owned, the beach is popular with surfers, swimmers and beach lovers and is also home to a restaurant/bar.
Newquay is considered to be one of Cornwalls most popular holiday resorts, world renowned for the quality of its surrounding surfing beaches together with the spectacular North Cornish coastline. The town provides a comprehensive range of shopping facilities together with amenities to satisfy all banking, schooling and leisure requirements. There is a branch line railway station together with Newquay airport nearby from where there are a number of scheduled domestic and international flights.
SETTING AND DESIGN
'Five, three storey, four bedroom townhouses with open plan kitchen/dining/living rooms opening to a sea view terrace. A second reception room could be a family room or office. The en-suite master bedroom has a sea and beach view balcony.
The planning permission allows for a development of 11 properties in total.
The townhouses form the first phase of this development.
The Landowner intends to demolish the property ahead of development.
Further details available through the sole agents, Humberts.
LOCAL AUTHORITIES
' Cornwall Council .
' Planning Reference Number PA24-02415
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.
The Property has been saved to your favorites
/ 5
It's quick and easy
