1 bedroom apartment for sale

£161,000 Fixed Price

1

Bedrooms

Floorplan

Why youll like it
Martin & Co are delighted to offer for sale this immaculately presented one-bedroom second-floor apartment set within a small complex of 18 similar style apartments in the popular town of Frome. The property is part of a government scheme. This means the property can only be sold to first-time buyers under the age of 40.

The property comprises and benefits from uPVC double glazing, gas central heating, intercom system, spacious open plan living, bedroom, large cupboard, and bathroom suite.

Upon entering the property, you are greeted by a generous and inviting entrance hall, which provides convenient access to all rooms.

The open-plan kitchen, dining, and lounge area spans the entire length of the property, measuring 21 feet. This expansive space features a contemporary kitchen equipped with an integrated oven, hob, fridge/freezer, microwave, and dishwasher. There is ample room for a dining table and chairs, along with all essential lounge furnishings. Double doors open to a Juliette balcony, allowing for an influx of natural light, and these doors are also fitted with blinds for added privacy.

The bedroom is a spacious double, accommodating all necessary furniture comfortably. A sizable window allows for ample natural light to enter the room and features built-in blinds for added convenience.

The bathroom features a suite that comprises a bath with an overhead shower, a wash basin, and a toilet.

Additionally, there is a spacious storage cupboard that accommodates the washing machine and provides ample storage.

The property includes one designated parking space along with visitor parking options.

An internal viewing is strongly encouraged to truly appreciate the exceptional qualities of this remarkable apartment.

Property location
Frome is a historic market town with many notable buildings and features the highest number of listed buildings in Somerset. Frome offers a range of shopping facilities and is known for its small independent shops, artisan street markets, festival and cultural venues, a sports centre, several cafs, a choice of pubs, local junior, the Steiner Academy, middle and senior schools, theatres and a cinema. Bath and Bristol are within commuting distance, and the local railway station connects at Frome and Westbury for London, Paddington.

How to find me
Satnav postcode:BA11 1GQ
What3words:///call.cost.shades

For your information
Martin & Co Westbury havent tested any of the appliances listed in these details, or asked for warranty or service certificates, unless stated theyre on an as seen basis. You should only use floor plans and measurements as a general guide to room layout and design, as theyre not exact. Potential buyers are advised to recheck the measurements before completion. Money Laundering Regulations: Purchasers will be asked to produce identification and proof of residency documentation, once an offer has been agreed, we need to hold this on file before solicitors can be instructed.

Additional information
Lease: 999years from 2021
Ground rent: Peppercorn
Maintenance: 200 per 1/4
Building insurance: 296pa

Please note the above information has been obtained by the current owner and may be subject to alterations.

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

£ 127475

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
    £ 4025
  • 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

£ 6725
  • 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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