1 bedroom apartment for sale

£130,000

1

Bedrooms

1

Bathrooms

Floorplan

SUMMARY '''Nestled within the historic heart of Plymouth, Palace Vaults offers an unparalleled living experience. This delightful residence is perfectly positioned amidst a vibrant tapestry of trendy eateries, bustling events, and scenic promenades, ensuring every desire is catered to with effortless grace'''

LOCATION The prime location of Palace Vaults also invites you to explore the natural beauty and iconic landmarks that Plymouth has to offer. Enjoy serene walks along the renowned Hoe, where breathtaking panoramic views of Plymouth Sound and the historic coastline await at every turn. Wander through the picturesque harbour, soaking in the maritime atmosphere and perhaps catching a ferry to explore further afield. For a tranquil escape, the enchanting Elizabethan Gardens, offering a peaceful oasis amidst the citys activity, are just moments away, providing a delightful retreat with their historic charm and colourful blooms.

DESCRIPTION Stepping inside the flat you are greeted by an apartment designed for comfort and style.
The heart of this home lies in its cosy and inviting lounge area, with space for relaxation and dining,
making it an ideal setting for entertaining friends and family or enjoying intimate meals. The room
boasts attractive views westwards over the pretty Elizabethan Garden and features a historic ceiling beam. The
entrance hall leads to a small but light and well designed fully functional kitchen.

The property features one generously sized double bedroom, providing ample space for relaxation.
The bedroom also benefits from an outlook over the Elizabethan Gardens. A well appointed
three-piece bathroom with shower adds further convenience for both residents and their guests.

In essence, Palace Vaults offers a harmonious blend of comfort, style, and an enviable location. It is more than just an apartment; its a gateway to a vibrant lifestyle and a truly remarkable place to call home in the heart of Plymouth.
Step outside your door and immerse yourself in the charm of the Barbican, a lively waterfront community brimming with character. Discover unique shops, inviting cafes, and a diverse range of restaurants and bars, all within a short stroll.



LEASEHOLD INFORMATION The property is leasehold with 987 Years remaining on the lease, enjoys shares of the freehold and management company, and has no ground rent payable. There are service charges of 1230 per annum. This information has been provided in good faith however we recommend formal verification by a solicitor.

VIEWINGS Interested applicants should contact Martin & Co today on in order to arrange their viewing appointment.

NOTICE 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 traveling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller. We routinely refer potential purchasers to Simply conveyancing. It is your decision whether you choose to deal with Simply. In making that decision, you should know that we receive an annual payments benefits, equating to approximately 200 per referral.

Features
  • Freehold

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

£ 103450

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
    £ 3250
  • 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

£ 5950
  • 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

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