2 bedroom penthouse for sale

£1,650,000

2

Bedrooms

2

Bathrooms

Floorplan

Set on the top (6th) and extending to an impressive 1459 sq ft of well-proportioned living and entertaining space, the apartment boasts an abundance of flowing natural light throughout and has retained much of the original warehouses characteristics, with vaulted ceilings in the reception room, and exposed beams & joists throughout. A large reception room offers a South facing vista over the lapping waves of the River Thames, and warehouse style loading bay doors open to private balcony with panoramic views. A well-appointed and modern kitchen is accessed via the reception. Living accommodation overlooks a private courtyard to the rear and is arranged with a large principal bedroom suite offering a separate dressing area (currently used as a good-sized study room / office). The room offers extensive wardrobe and storage space, and has access to a en-suite bathroom. A guest bedroom with large wardrobe storage, shower room, airing cupboard and separate storage cupboard are offered off a welcoming hallway.

Located on a quiet cobbled stretch of the Thames Path, Merchant Court offers a private communal Riverside terrace for residents, secure underground car parking and daytime buildings manager.

Several private coffee houses, Riverside eateries, pubs and small grocery stores are located close by, with a large Waitrose located further Westwards along the Thames Path, adjacent to St Katharine Docks. Transport links are available from Wapping Station (0.3mi) allowing easy access to all local tube connections To check broadband and mobile phone coverage please visit Ofcom here ofcom.org.uk/phones-telecoms-and-internet/advice-for-consumers/advice/ofcom-checker



Features
  • Freehold

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

£ 1390700

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 41250
  • 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

£ 153200
  • 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

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

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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