4 bedroom detached for sale

£260,000 Offers in excess of

4

Bedrooms

1

Bathrooms

Floorplan

INTERIOR

Previously set up as a student let, this spacious detached property is ideally located just a short walk from the city centre. The ground floor features a well-equipped kitchen, a separate lounge, two bedrooms, and a convenient cloakroom for guests. Upstairs are two additional bedrooms along with a family bathroom, all accessed through stairs in the lounge.
With the flexibility to remove the stud wall to open up the lounge or to convert one of the downstairs bedrooms into a dining room, this property also offers exciting potential to be restored into a fantastic family home.

INVESTMENT OPPORTUNITY

Gore Mews was previously let at 1,400 per month, generating a robust yield of 6.4%. The development opportunities with this property are in abundance and can add real value for an investor or create an ideal home for a family.

EXTERIOR

There is a large private garden to the rear of the property, largely laid to lawn, as well as a garage and allocated parking space.

LOCATION

Gore Mews is located to the North of Canterbury city centre, just outside the city walls, in the popular area of Sturry. It is close to the brand new Riverside leisure complex, as well as several other shopping and dining destinations. Great for commuters, it is just a five minute drive to Canterbury West station, which provides High-Speed regular rail services to London St. Pancras in only 55mins.

OTHER

This property is council tax band C.

KITCHEN 13 8" x 6 10" (4.17m x 2.08m)

LOUNGE 13 2" x 10 5" (4.01m x 3.18m)

BEDROOM 13 2" x 13 2" (4.01m x 4.01m)

BEDROOM 11 7" x 9 7" (3.53m x 2.92m)

BEDROOM 13 2" x 10 2" (4.01m x 3.1m)

BEDROOM 13 2" x 9 7" (4.01m x 2.92m)

BATHROOM 8 0" x 7 3" (2.44m x 2.21m)

Map location is not available for this property.

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

£ 217200

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 6500
  • 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

Adjust these figures

£

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

£ 22200
  • Mortgage Interest
    £

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

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  %
  %
£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

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

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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