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£1,100,000
'' FREEHOLD SOLD WITH VACANT POSSESSION ''
'' VIEWINGS BY APPOINTMENT ONLY ''
McDowalls are excited to bring to market this freehold property prominently located on the ever popular Barking Road. The building comprises a large ground floor commercial unit with basement and two comfy 2-bedroom flats above. An ideal opportunity for investors, landlords or owner occupiers looking for a mixed use asset. Sold with vacant possession.
4 Barking Road - 1,100000 (One Million & One Hundred Thousand)
Mixed Use Property
Commercial With Basement
2 x 2 Bed Flats With Separate Entrance On Central Park Rd
4 Barking Rd
Commercial Unit With Basement
MAINS SERVICES - Electric/Water
COUNCIL - London Borough Of Newham
BUSINESS RATES - RV 24000
EPC - Band C
4a Barking Rd
2 Bedroom Flat / Lounge / Shower Room / Kitchen
MAINS SERVICES - Electric/Water/Gas
COUNCIL - London Borough Of Newham
Council Tax - Band B (1443 pa)
EPC - Band C (Expires May 2033)
PARKING - On Street With Permit
4b Barking Rd
2 Bedroom Flat / Lounge / Shower Room / Kitchen
MAINS SERVICES - Electric/Water/Gas
COUNCIL - London Borough Of Newham
Council Tax - Band B (1443 pa)
EPC - Band C (Expires May 2033)
PARKING - On Street With Permit
NB
1. These particulars are prepared for guidance purposes only. They are intended to give a fair description of the property, but do not constitute part of an offer or contract.
2. We have been unable to verify certain information in particular none of the services or fixtures and fittings including central heating (where applicable). Electrical wiring appliances have not been tested and no warranties of any kind can be given.
3. The photograph appearing on particulars shows a certain aspect of the property at the time when the photograph was taken and it should not be assumed that the property has not changed since the photograph was taken.
4. All floor plan measurements are approximate and for illustration purposes only.
5. No enquiries have been made regards planning
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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