2 bedroom flat for sale

£695,000

2

Bedrooms

2

Bathrooms

Floorplan

Be the first to own this impressively bright and spacious two-bedroom two-bathroom first floor purpose-built apartment of 889 sq ft / 78.9 sq m, with a markedly large open plan living room and kitchen with a private balcony, located in this popular and stimulating location in E2.

This apartment would make a great first-time purchase and home for anyone interested in living in this existing corner of East London.
A well-appointed, stylish purpose-built block of twelve private flats completed 3 years ago by developer Inwood Properties Ltd. This first floor apartment is the first to be marketed for sale, currently all twelve apartments are let privately, via Look Property. This property will be sold with vacant possession the tenants are purchasing a property and are entitles to two months notice ay the appropriate time.

The specification of the building is high meeting the latest building standards, it has a EWS1 certificate and there are still seven years on the building warranty.

The building and accommodation

The entrance has a secure gate, there are two bin stores, a front path, steps up to the main entrance at raised ground floor level. There is a second a lower-level entrance providing disabled access.

The secure communal entrance, hallway, lift and stairs are as new, servicing all floors. There is also a modest communal rear garden area with a communal bicycle rack.

The apartments accommodation of 849 sq ft / 78.9 square metres has a central entrance hallway. The apartment feels larger still, due to the larger than normal open plan living room with open plan kitchen in another space in the left-hand corner or the room.

This living space is 233 by 229 with a large, covered balcony accessed via the fully glazed door and floor to ceiling window. The kitchen is a modern dark colour and is fully applianced, and also has a floor to ceiling window, making it a bright room overall. It has good quality engineered wooden flooring which is both practical and stylish.

Both of the double bedrooms have large windows and fitted carpet, the master bedroom has a high-quality ensuite shower room.
The family bathroom has a white suite and quality tiles, fixtures and fittings.

Tenure: Will be sold with a new 999-year lease.

Ground rent: A peppercorn

Service Charges: Approx 1,822,00 per annum.

Availability: The property is currently tenanted, the tenants are in the process of buying a home for themselves. They have the ability to offer notice, our client the freeholder and developer can provide the tenants with two months notice at the appropriate time.

Viewing: By appointment with the sole agents Look Property

Places of Interest?

Victoria Park, which is a 213-acre park that was opened in 1845 and is one of the oldest public parks in London. It features a large lake, numerous walking and cycling paths, playgrounds, cafes, and sports facilities. The park also hosts various events throughout the year, including music festivals, food markets, and sporting events. It is considered one of the most popular and well-loved parks in London, providing a peaceful escape from the hustle and bustle of the city.?

Columbia Road is a lively street in Londons East End, renowned for its vibrant and bustling flower market, where visitors can immerse themselves in a sensory delight of colours and fragrances while exploring a wide array of stalls offering an incredible selection of flowers, plants, and gardening accessories.

Broadway Market is a lively and eclectic street nestled in the vibrant neighbourhood of Hackney, London, known for its diverse range of artisanal food stalls, trendy boutiques, and a buzzing atmosphere that attracts both locals and visitors alike.

London Fields is a popular park in the borough of Hackney, London, offering a serene oasis in the midst of the city, with its sprawling green spaces, a lido for swimming, a vibrant weekend market, and a sense of community that draws both families and young professionals to enjoy its relaxed ambiance.

Shoreditch is a dynamic and creative neighbourhood in the heart of East London, known for its vibrant street art, trendy bars, eclectic markets, and a thriving tech and startup scene, making it a magnet for artists, entrepreneurs, and urban enthusiasts.

Bethnal Green
The nearest underground station to the property is Bethnal Green station, which is on the Central Line. This station provides easy access to key destinations such as Oxford Circus, Liverpool Street, and Stratford. It is also served by two Overground stations, Bethnal Green station, and Cambridge Heath station, both 650m away.

The area is home to many green spaces, including the beautiful Victoria Park, which is a 213-acre park that was opened in 1845 and is one of the oldest public parks in London. It features a large lake, numerous walking and cycling paths, playgrounds, cafes, and sports facilities. The park also hosts various events throughout the year, including music festivals, food markets, and sporting events. It is considered one of the most popular and well-loved parks in London, providing a peaceful escape from the hustle and bustle of the city.

Bethnal Green is a fantastic place to live, a vibrant and diverse neighbourhood in the heart of East London. It has a rich history and culture, reflected in its stunning architecture, bustling markets, Colombia Road market on Sundays, known for its diverse range of fresh flowers and exotic plants, and Broadway market on Saturdays, with the street filled with artisanal food vendors, independent shops, and trendy cafes.

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.



Features
  • Freehold

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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

£ 576075

Mortgage Loan to Value

%

Gross Yield

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Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 17375
  • 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

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£

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

£ 54825
  • Mortgage Interest
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    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)
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  • Letting Fee
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  • Maintenance
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  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

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Total Profit

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  • Final Equity Profit
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    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
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Final Property Value

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