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£900,000
Bedrooms
Bathrooms
Offered to the market with exceptional potential, this detached freehold property presents a rare opportunity for conversion into a spacious family home. Currently configured as a multi-unit freehold block of 5 self contained flats with tenants in situ the property offers scope for a significant transformation. Ideal for buyers seeking a unique project and the space to do it, the existing layout provides flexibility for reconfiguration into a substantial residence, combining character and scale in a desirable location. While also currently listed as a commercial investment, this listing highlights the distinct potential for residential use, making it suitable for dual-purpose marketing.
Set on a generous plot with a garage and driveway, the property is surrounded by gardens and provides ample space for renovation or reconfigurationideal for those looking to create a bespoke residence and truly make it their own.SITUATED
On Rugby Road, just a short walk to West Worthing Railway Station which is located just 0.02 miles away which is approx a five minute walk away. Bus services run nearby on Tarring Road & Goring Road and local shops can be found on Tarring Road, South Street & Goring Road which are just a short walk away. Goring Road Shopping facilities is only 0.4 miles away. Worthing town centre with its comprehensive shopping amenities, restaurants, pubs, cinemas, theatres and leisure facilities is approximately 1 mile away.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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