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£450,000
Bedrooms
Bathrooms
''DUPLEX PENTHOUSE'' 1,823 sqft ''TWO EN-SUITES & W/C'' beautifully presented ''VELUX WINDOWS & HIGH CEILINGS'' light and bright throughout ''WALK-IN WARDROBE AND COCKTAIL BAR''
EPC rating D.
Forming part of the sought-after development of Merchants House, is this 3-bedroom, 3-bathroom, duplex penthouse.
On the market for the first time in over 20 years and covering over 1,800 sqft, the property offers expansive and characterful accommodation set over two floors.
Beautifully decorated throughout, the open plan living area allows for extensive lounging and entertaining boasting its very own cocktail bar, original features and large picture windows.
Raised slightly above the living space, is the kitchen diner which extends to include a bespoke kitchen island and dining area for 6. Offering wall and base units in matt white, finished off with stone worktops the fitted appliances include an electric oven, combi-oven, plate warmer and free-standing, American style fridge-freezer.
Off the characterful entrance hall, is a large ensuite bedroom, a family W/C with a large storage cupboard and utility cupboard - where the washing machine and tumble dryer are housed.
Stairs lead up to the second floor, where there are two further bedrooms the principal suite comprises of lounge area, bathroom and walk-in dressing room.
Allocated basement parking and one share in the Management Company are included.
Under new NTSELAT legislation, we are obliged to provide the following information:-
Ground Rent - 50pa (no review)
Service Charge - 3,547.96pa
Buildings Insurance - 818pa
Leaseterm:- 999 years from 1999.
Council Tax - Band F
Heating Electric, via a meter
Water - Mains connected, via a meter
Broadband - No issues to report
Mobile No issues to report
Construction type Conversion
Building Safety EWS B1 rated
Flood Risk:- None
Planning Permissions:- None
THE DEVELOPMENT:-
Merchants House is a stunning conversion spanning the city end of North Street, as it meets Trafalgar Street. Being a combination of both 2 and 3 bedroom apartments, all having contemporary interiors, large windows and high ceilings. The Northern Quarter has an array of trendy and unique restaurants, Gastro style pubs and an abundance of cafes and takeaways to sample - it also benefits from being a few minutes walk away from Victoria Gate, which incorporates John Lewis.
LOUNGE:-
Accessed down 3 steps, the unique layout boasts a private bar, curved feature wall, high ceilings, open brickwork and original structural supports. Three oversized feature windows flood the space with light and offer rooftop views over the city beyond in a southerly direction. The living area also benefits from underfloor heating.
KITCHEN / DINER:-
Contemporary in design, with versatile cabinetry including a kitchen island - complete with popup power point and induction hob with extractor over. There is also the added convenience of a Quooker Tap and Insinkerator waste disposal.
BEDROOM 2:-
Located off of the entrance hall, set over 2 levels and carpeted in cream with fitted wardrobes it allows ample space for a super king-size bed, side tables and drawers. There is also the added benefit of a beautifully appointed en-suite complete with bespoke storage, feature lighting and mixer-controlled shower.
BEDROOM 1:-
Located on the upper floor and carpeted throughout this room is more like a master suite. Not only does it allow for a super king-size bed, side tables and drawers but it also boasts a stunning en-suite bathroom with large bath and separate shower, lounge area and walk-in dressing room. Additional features include structural ironmongery and two oversized Velux roof windows.
BEDROOM 3:-
Currently arranged as a home office and occasional guest room light pours into the space from a Velux roof window, which also offers city views in a southerly direction. There is a large walk-in closet allowing additional storage.
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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