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£570,000 Offers in excess of
Bedrooms
Bathrooms
A bright and spacious two-bedroom, two-bathroom apartment on the second floor, offering 717 sq ft / 66.7 sq m of well-designed living space in a desirable development beside the Hertford Union Canal and the open green spaces of Victoria Park.
Completed in 2013, Vermillion Apartments have matured into a sought-after residential block. The apartment enjoys a private balcony overlooking tree-lined Gunmakers Lane, with a lateral view of Victoria Park, which can be accessed directly via the canal bridge at the end of the Lane.
Inside, the apartment features an entrance hallway leading to a generous open-plan reception and kitchen. The kitchen is fitted with modern appliances and finished to a high specification, while the white bathroom suites feature tiled walls and floors. Floor-to-ceiling windows ensure a bright and airy interior, complemented by Amtico flooring.
The principal bedroom includes a fitted wardrobe, an en-suite shower room, and space for a large desk ideal for remote working. The second bedroom is also a spacious double. A family bathroom and ample storage complete the layout, including a large hallway cupboard that houses the heating system and technical connections, and is plumbed for a washing machine.
Connectivity is excellent, with both Virgin Media and Hyperoptic fibre broadband available.
The property also includes a secure underground parking space, with the potential to install an electric vehicle charging point (subject to approval by managing agents A2Dominion), a secure bike storage, lift access and a video entry system for enhanced security and convenience
This apartment offers a perfect balance of comfort, quality, and location, ideal for modern city living.
Availability
This apartment is occupied by the vendor. This property will be sold with vacant possession with no onward chain.
Viewings: strictly by appointment via the sole agent Look Property.
Tenure, Leasehold: 113 years unexpired of the 125-year lease from the 24th June 2013.
Ground rent: 300 PA
Service charges: 2,884.08 PA / 240,34 PCM
EWS1 certificate available.
EPC: Band B
Council Tax: Band D
Local Authority: Tower Hamlets
Location: Located on Gunmakers Lane, it is a short walk North past two neighbouring buildings to the Gunmakers Lane Bridge over the Hertford Union Canal, leading you into the wide-open spaces of Victoria Park.
VICTORIA PARK
Victoria Park is a large, public park located in East London, England. Covering an area of approximately 86 hectares (212 acres), it is one of the citys largest and most popular parks.
The park was originally created in the 19th century as a part of a movement to provide green space for the rapidly growing urban population of London. It has since become an important part of the local community, offering a variety of recreational opportunities and hosting a range of events throughout the year.
Victoria Park features a mix of open grassy areas, woodland, and waterways. It includes several lakes and ponds, as well as a boating lake, which is popular with visitors during the summer months. The park also contains a number of sports facilities, including a cricket pitch, football pitches, and tennis courts.
In addition to its natural beauty and recreational facilities, Victoria Park is also home to a number of attractions, including the Victoria Park Pavilion, a historic building that now houses a caf and visitor centre. The park is also home to a sculpture trail, which features a number of modern artworks scattered throughout the park.
Overall, Victoria Park is a vibrant and bustling hub of activity, offering something for everyone. Whether youre looking for a peaceful place to relax and enjoy nature or an exciting venue for sports and events, Victoria Park is definitely worth a visit.
Transport nearby:
Hackney Wick Overground train station is a 20-minute walk through Victoria Park. Mile End Tube station is also a 20-minute walk. The number 8 bus can be caught from the bus-stop a minute away on St Stephens Road, the route travels through, Bethnal Green, Shoreditch, Liverpool Street, Bank and Holborn and beyond.
Map location is not available for this property.
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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