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£400,000
Bedrooms
Bathrooms
''PENTHOUSE'' 1,163 sqft ''SHOWER ROOM & EN-SUITE '' beautifully presented ''VELUX WINDOWS & ORIGINAL FEATURES'' light and bright throughout ''PRIVATE TERRACE'' allocated parking space
EPC rating C.
Forming part of the sought-after development of Merchants House is this 3-bedroom, 2-shower room, penthouse.
Covering 1,163sqft in total, the property offers light, bright and characterful accommodation all on one level.
Beautifully presented throughout, the open plan living area allows for lounging, dining and a home office all benefitting for large Velux windows and access to a private terrace.
Offering gloss white wall and base units, finished off with oak worktops the kitchen has fitted appliances including an electric oven, induction hob with extractor over, microwave, dishwasher and fridge-freezer.
Allocated basement parking is included.
Under new NTSELAT legislation, we are obliged to provide the following information:-
Ground Rent - 50pa (no review)
Service Charge - 2,304pa
Buildings Insurance - 646pa
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:-
Characterful in layout, with original structural supports and two Velux roof windows the space allows for extensive lounging and dining. Access to a private terrace is afforded via glazed French doors, ideal for alfresco dining and those with green fingers. Solid oak flooring runs throughout the space and the fixtures and fittings are finished in stainless steel.
KITCHEN / DINER:-
Contemporary in design, with gloss white wall and base units - complete with low level LED lighting and high-end built-in appliances.
BEDROOM 1:-
Allowing for a king-size bed, side tables and drawers it also boasts built-in wardrobes and a stunning en-suite, with double walk-in shower. Additional features include structural ironmongery, bespoke oak framing and an oversized Velux roof window.
BEDROOM 2:-
Allowing for a king-size bed, side tables and drawers where built-in wardrobes provide hanging space and additional storage. The space is flooded with via oversized Velux roof window.
BEDROOM 3:-
Currently arranged as an occasional bedroom, it would make a great home office, snug or childs playroom.
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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