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£595,000 Offers in excess of
Bedrooms
Bathrooms
Rare opportunity to purchase a freehold shop with a first floor self contained one bedroom apartment on highly sought after Roman Road. The shop has been trading as a successfulhigh end designer childrens wear business for nearly 40 years and is in verygood condition with exposed brick walls and decor. There is a basement as well which is used for storage and again in good condition, a kitchen area & WC.The flat upstairs has one bedroom, open plan lounge/kitchen & a bathroom.There is potential to extend the property (subject to planning permission) by adding another floor to create afurther bedroom or two.The Roman Road and Bow Neighbourhood
This sought after neighbourhood is a thriving, highly desirable and livelyplace to live or work, with beautiful green spaces and a well-known food and drinkculture. The excellent transport links provide easy access to the City, CanaryWharf and beyond, making it an ideal location for professionals and familiesalike. Roman Road and Bow in general, provide bustle and life with a plethoraof independent cafes, bars and restaurants to choose from and a variety ofconvenience stores are at hand. From independent boutiques to well-known highstreet brands, there is something to suit all tastes and budgets. The famousRoman Road Market offers an eclectic mix of vintage clothing, fresh produce,and artisanal goods, and there is a Sunday food market in Victoria Park, withBroadway and the Columbia Road Flower Markets, a 25-minute stroll along thepicturesque Regents Canal. Bow Road tube station is just a short walk away fromwhere the District, and Hammersmith and City lines can be accessed with MileEnd Station also close by with the central line, District, and Hammersmith andCity also accessible providing easy access to all parts of the city.
There are also excellent bus links, including the number 8,277, 425 and 339 buses, making it easy to get around the local area in alldirections and beyond.
Victoria Park, which is a 213-acre park that was opened in 1845 and is one ofthe oldest public parks in London. It features a large lake, numerous walkingand cycling paths, playgrounds, cafes, and sports facilities.
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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