2 bedroom apartment for sale

£460,000

2

Bedrooms

Floorplan

This stunning two bedroom ground floor apartment is full of character and charm, boasting spacious open plan living leading seamlessly onto an extension private terrace. Two generous bedrooms, with en-suite shower room and further bathroom. Perfectly located a short walk from the town centre and all its amenities, as well as Victoria Park and the train station.

Originally built in 1901, a well-established landmark in Leamington Spa. Despite various changes of use since its completion over a century ago, the building still boasts a wealth of original period features from arched doorways to ornate cast-iron radiators. The conversion of the building took place in 2014 creating luxurious and modern apartments finished to a very high standard promoting a high end, contemporary lifestyle, in arguably the most sought after development in the town.


APPROACH Original wrought iron gates secure the property on the street, with a high tech intercom system connecting visitors to each apartment, with phone and video link. There is a well kept communal garden area between the gated entrance and glass doors where there is also another intercom system. From here you enter into the central communal courtyard area, which originally had an atrium roof, but has since been developed so that all the residential units can be directly accessed from this space.

ENTRANCE Number 1 The Old Library is located to the rear of the building and accessed via a locked gate allowing entry to the apartment across the private terrace.

OPEN PLAN KITCHEN LIVING ROOM

KITCHEN AREA With a range of contemporary wall and base mounted units complementary work surface with stainless steel sink and integrated drainer unit, with an integrated fridge and freezer, dishwasher, built in electric oven and built in microwave oven. Breakfast bar island with four ring electric induction hob with over-head extraction. Wall mounted video entry system, spot lighting, central heating radiator, cupboard with space and plumbing for washing machine, wall mounted central heating boiler and electric fuse box,

LIVING AREA Feature windows to the rear, spot lighting, oak wood flooring, feature exposed brick work and double doors leading onto the terrace.

PRIMARY BEDROOM Large feature window to the rear, with carpeted flooring, built in wardrobes, spot lighting and central heating radiator.

EN-SUITE BATHROOM Tiled flooring with under floor heating, low level WC, two wash hand basins with mixer taps, spacious shower enclosure with wall mounted shower controls and rain fall shower attachment, ceramic tiling to the walls, extractor, heated towel rail, spot lighting and mirrored vanity unit.

BEDROOM TWO Large feature window to the rear, with carpeted flooring, built in wardrobes, spot lighting and central heating radiator.

BATHROOM A tranquil bathroom, tiled flooring with under floor heating, low level WC, wash hand basin with mixer tap, bath with shower screen, ceramic tiling to the walls, wall mounted shower controls, extractor, heated towel rail, spot lighting and mirrored vanity unit.

GATED PARKING Located to the rear, through secure electric gates, there is allocated parking and further on road, permit parking available.

TENURE The property is being sold with a share of the Freehold with approximately 990 years remaining on the lease, with no ground rent and the current service charge is approximately 3887.00 per annum, this information should be checked and verified by your legal representative.

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

£ 382200

Mortgage Loan to Value

%

Gross Yield

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Annual ROI

%

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
    £ 11500
  • 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

£ 37200
  • 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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