14 bedroom cottage for sale

£1,000,000 Guide Price

14

Bedrooms

7

Bathrooms

Floorplan

St Olaves Marina - 2.6 miles
Beccles - 10.6 miles
Southwold - 16.8 miles
Norwich - 20.9 miles

A unique and exciting opportunity to acquire the freehold purchase of seven quintessential chocolate box Victorian terraced cottages situated in the North Suffolk Heritage Village of Somerleyton, the setting for numerous television productions, most recently Netflixs The Crown. The properties consist of seven, two bedroom cottages, sympathetically updated and well presented throughout. Currently held under one title number 1-7 are individually registered and offer a superb investment opportunity with current or pending assured short-hold tenancies set in place whilst offering a wealth of further opportunity.

Seven Individual Victorian Cottages Offering:
Sitting Room
Kitchen
Bathroom
Master Bedroom
Second Double Bedroom
Charming Cottage Gardens & Brick Outhouses

Agents Note
We would welcome all inquiries from interested parties via our office, for an initial, confidential conversation regarding the current rental yields and future prospects the acquisition could offer. The properties are offered as a freehold acquisition subject to and with the benefit of all rights of way, whether public or private, all way leaves, easements and other rights of way whether specifically mentioned or not.

Location
These properties are located in the much sought after North Suffolk Heritage village of Somerleyton. The village is renowned for its position and stunning architecture, the well known Dukes Head pub and restaurant offers the perfect spot to unwind whilst various open green spaces throughout the village make it a haven for walkers. The country lane which runs between the Dukes Head and Marsh Lane leads down to the river with moorings. The village enjoys stunning scenic walks and a range of amenities including a bowls green, childrens park with tennis and basketball court, football fields, allotment gardens, marina and local train station on the Norwich to Lowestoft line which gives links to London Liverpool Street via Norwich (1 hr 54 mins).

Fixtures and Fittings
All fixtures and fittings including curtains are specifically excluded from the sale, but may be available in addition, subject to separate negotiation.

Services:
Electric Heating. Mains Electric, Water & Drainage.

Local Authority:
East Suffolk Council
Tax Band: Numbers 1-7. Band A Individually.
Postcode: NR32 5QD

EPC Rating:
Numbers 2-6 D
Numbers 1&7 E

Tenure
The sale of Widows Row offers the freehold purchase of Seven individually registered properties currently held on a single title.

TOTAL RENTAL INCOME PER ANNUM: 56,530 pa

Map location is not available for this property.

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

£ 818950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

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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
    £ 25000
  • 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

£ 68950
  • 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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