2 bedroom apartment for sale

£340,000

2

Bedrooms

2

Bathrooms

Floorplan

SUMMARY ''' THE MOST UNUSUAL APARTMENT YOU WILL FIND ON THE ROYAL WILLIAM YARD! '''
To maximise rental income this current AIR B&B has been converted with the ability to generate up to 50,000 turnover per annum.
Accommodation comprises:
Flat A - hall, lounge/diner, kitchen, master bedroom and three childrens bunk beds.
Flat B - double bedroom with mezzanine providing two further sleeping spaces and large bathroom, with outside seating area.
This has all been approved by the Management Company and is on one title with key safes providing entrance access to the guests.
There is one allocated parking space with the property and one further rented space available.
EPC exempt. The property is sold fully furnished.

COMMUNAL ENTRANCE AREA With doors leading to both flats.

FLAT A Flat A opens into a spacious hallway with the original exposed metal pillars, leading into the lovely open-plan lounge and dining area. This in turn leads to a kitchen with integrated appliances and to a cute little 'bunk bed room with port holes, laid out to accommodate three childrens bunks. There is a separate double bedroom with feature stone wall and built-in wardrobes and large bathroom with shower over bath.

FLAT B On entering flat B, you walk straight into a double bedroom which has built-in wardrobes and has doors leading to a private terrace. There is a large bathroom and a mezzanine providing two further beds.

PARKING There is one allocated parking space and one currently rented that can be available to be transferred to the new owner.

ROYAL WILLIAM YARD Royal William Yard is an outstanding waterfront development occupying a prime position with magnificent views across Plymouth Sound. Originally built in the early 1800s for use by the Royal Navy it has a stunning collection of Grade I and II listed buildings. Now a thriving hub of appealing restaurants, bars and businesses - this is a must see!

VIEWINGS Interested applicants should call Martin & Co (Plymouth) today on in order to arrange their viewing appointment.

LEASEHOLD INFORMATION The property is held on a lease with 116 years remaining. The ground rent is 1 per annum and there are service charges of 4000 annually.
This information is provided in good faith but we recommend formal verification by a solicitor.

NOTE TO APPLICANTS We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Please be advised that some of the particulars may be awaiting vendor approval. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller. We routinely refer potential purchasers to Move With Us conveyancing. It is your decision whether you choose to deal with Move with Us. In making that decision, you should know that we receive an annual payments benefits, equating to approximately 200 per referral.

Features
  • Freehold

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

£ 283200

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
    £ 8500
  • 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

£ 28200
  • 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

Adjust these figures

  %
  %
£
  %

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

The Property has been saved to your favorites

Love the most
Second best
Meets our criteria
May be
Last resort

 / 5

Enquiry

Please enter a valid UK mobile number (e.g. 07123456789 or +447123456789)

Book an Appointment

Enter Details

Select Date and Time

GNB Property

10 Minute Meeting

  

Check all Details

Submit

Booking Confirmed

All confirmed! We look forward to speaking with you.

10 Minute Meeting

A calendar invitation has been sent to your email address.
Message