2 bedroom apartment for sale

£425,000

2

Bedrooms

Martin & co are delighted to offer to the market, with no onwards chain, this fantastic two bedroomed, second floor apartment within the sought after, Prince of Wales Mansions, York Place.

Prince of Wales mansions is a grand mansion block overlooking the beautiful Stray parkland, in a superb position on the edge of the popular spa town of Harrogate. Harrogate has much to offer, including an array of shops, cafes, restaurants and many recreational facilities. Dating from 1815, the property was originally a hotel and was converted into spacious apartments in the 1960s.

The area is well connected by road, with the A1(M) just 10 miles from the property, offering easy access to the north and south, while Harrogate mainline station is within a short walking distance and offers direct services to York, Leeds and London Kings Cross.

The communal areas of the building display elegant features, including high ceilings, ornate staircases and chandeliers, and benefits from lift access. While the apartment itself, has been recently renovated and offers light and airy rooms and attractive accommodation.

Entering this spacious apartment via the secure telephone entry system, you are greeted by the grand hallway, with scope for use as a home office or study area. There are two useful storage cupboards, one of which houses the gas central heating boiler. And a separate WC.

Leading to a spacious sitting room which offers stunning views across the neighbouring Stray parkland. With room for a seating area and a dining table, and recently installed gas fire and marble surround.

The newly installed kitchen features a range of timeless units in cream, sleek black quartz worktops, integrated appliances including an oven and hob, microwave and dishwasher. There is plumbing for a washing machine. The addition of the peninsula breakfast bar offers a valuable dining space.

There are two double bedrooms, offering further views across the stray. Both of which have been newly decorated and fitted with new carpets.

The house bathroom has both a separate bath and shower unit, as well and the sink and loo, and benefits from a heated towel rail.

Prince of Wales Mansions has a communal carpark with spaces for residents & visitors. The apartment also benefits from a single garage, either for use as storage or secure parking. There is also a handy, secure storage room to the ground floor of the building.

We have been advised that the property is of Freehold tenure.

The council tax is band E

There is an annual service charge of 2,112.00, equating to 176.00 PCM. This service charge includes buildings insurance,CCTV and upkeep of the communal areas, and lifts.

There are no restrictions regarding letting the property on an Assured Short Hold basis, but there is no scope for use as a holiday home. We estimate the rental income to be in the region of 1,800.00 PCM.

There is no smoking permitted within the building.

The property is serviced by mains electricity, gas and water services. The property benefits from a smart meter.

Estimated broadband speeds: 16MBPS - standard speed up to 1000 MBPs Ultra speed

Mobile phone coverage: O2, Vodafone, Three & EE

Satellite & Cable TV Availability: SKY, BT & VIRGIN

Flood Risk: Rivers & Seas - No Risk Surface water- Low

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

£ 353325

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 10625
  • 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

£ 34575
  • 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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