4 bedroom barn conversion for sale

£695,000 Guide Price

4

Bedrooms

3

Bathrooms

Floorplan

Set in gardens and grounds of approximately 2 acres (sts) in a lovely rural location and with wonderful countryside views, this detached converted barn offers spacious and flexible accommodation with annexe potential on the ground floor. The property is full of character and with lovely views from most rooms and benefits from ample car parking, a detached garage and outbuildings including a large workshop and an open barn.

The accommodation briefly comprises:-

- Entrance Hall
- Cloakroom
- Kitchen
- Dining Room
- Sitting Room
- Snug
- Bedroom
- Utility Room
- Shower Room
- First Floor Mezzanine Landing
- Master Bedroom with En-suite
- Two Further Bedrooms
- Shower Room

Outside
-Single Garage
- Off-Road Parking
- Attached Workshop
-Open Barn
- Gardens and Paddock extending to approximately 2 acres (sts)
- Beautiful countryside views

The Property
A glazed entrance door opens into the hallway to the right of which is a cupboard housing the oil fired boiler and a cloakroom. The kitchen is on the left and is well fitted with a modern range of wall, base and drawer units, John Lewis appliances including a built-in double oven, washing machine and dishwasher, ceramic hob with extractor over, and quartz style worktop with inset brushed stainless steel sink and drainer. The dining room is a beautifully light south facing room with full length windows, double doors leading out to the garden, Norfolk pamment tiled floor and stairs rising to the first floor accommodation. The sitting room has a wonderful exposed brick and flint wall. From the dining room a door leads into the snug (this part of the property would make an ideal annexe) with a door into the ground floor bedroom and an archway into the utility room which has a stainless steel sink, plumbing for a washing machine and electric cooker point. An inner hallway has a useful storage cupboard and door to the shower room.

Stairs rise from the dining room to the spacious mezzanine landing with vaulted ceiling, which would make an ideal study area and has a cupboard housing the hot water tank. The double aspect master bedroom has built-in wardrobe cupboards, loft access hatch and door to the en-suite bathroom comprising bath with shower over, WC and wash basin. There are two further bedrooms on the first floor and a shower room.


Outside
A shared driveway (owned by the property) leads to the detached garage and to a shingled parking area. The fenced paddock area is to the front of the property and has been used in the past for grazing sheep with an adjacent orchard planted with plum trees. The plot wraps around property and enjoys wonderful countryside views. The rear garden is accessed from the dining room and is laid to lawn with raised beds and planted with mature shrubs. Attached to the property is an extensive workshop area with power and light connected. A large open clay lump barn has been used in the past for housing animals. The total grounds extend to approximately 2 acres (sts)


Location
The property is situated in a lovely rural location on the edge of the village, surrounded by open countryside. Fersfield has a local village church and the neighbouring village of Bressingham provides amenities including local village inn, village church, famous garden centre and steam museum, primary school, post office and village store. Further amenities can be found in the nearby market town of Diss offering a comprehensive range of everyday amenities including weekly market and mainline railway link to Londons Liverpool Street (circa 90 minutes).

Fixtures and Fittings
All fixtures and fittings including curtains are specifically excluded in the sale (unless mentioned in the sales particulars) but may be available in addition, subject to separate negotiation.

Services
Oil fired radiator central heating.
Private drainage - Klargester System
Mains water and electricity are connected.
Energy Rating: E

Local Authority
South Norfolk District Council
Tax band: Main House D Annexe A
Postcode: IP22 2AW

Agents Note
The property is offered 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.

Tenure
Vacant possession of the freehold will be given upon completion.

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

£ 576075

Mortgage Loan to Value

%

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

£
  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 17375
  • 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

£ 54825
  • 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

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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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