11 Howells Mere, Lower Mill Estate

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Available / For Sale

Orion Sales

Orion Holidays, The Gateway Centre, Spine Road East, South Cerney, Gloucestershire, GL7 5TL

5 bedroom detached for sale

£699,950 Offers over

5

Bedrooms

4

Bathrooms

1

Reception

Floorplan

GROSS INCOME EXCEDING 100,000 ANNUALLY!

ACCOMMODATION A three storey, 5 bedroom, detached holiday home on Howells Mere lake. GROUND FLOOR - 2 double bedrooms, one with en-suite with separate shower, as well as a further family bathroom which has a bath and separate shower, as well as storage cupboards. Both of the bedrooms on this floor have direct access to the ground floor sun deck which has the hot tub on it. The Master bedroom has built in wardrobe space and another storage cupboard. Great lake views from both bedrooms. First floor - Three more bedrooms, all able to house double beds and one with an en-suite. All three with built in wardrobes. One of the three bedrooms with lake views, and access to first floor sun deck. The other two bedrooms with window to front of property. A family bathroom completes the first floor. SECOND FLOOR - Spacious living/dining area with open plan kitchen, dining and living area. Breathtaking views from this floor of Howells Mere lake and beyond, with yet another sun deck to make the most of this properties south facing aspect and views. a very short walk from the front door is the designated car parking space, with additional parking only a stones throw away. This property is also well situated for access to the spa, tennis courts, kids play area & Balihoo restaurant, all within a 5 minutes walk. All 75 light bulbs inside have recently been replaced with LED's for efficiency and lower running costs.

LIVING ROOM/DINING ROOM The living room is the main feature of this spectacular holiday home, where everyone can come together and enjoy panoramic lake views. A contemporary wood burning effect gas fire is the focal point for those chilly winter nights. Access through a large sliding, glass doors to the second floor sun deck with ample space for dining or just sitting and relaxing. This room occupies the entire top floor and provides a perfect place to sit and take in the abundance of bird life, views, and wildlife that inhabits the lake all year round. Solid Oak flooring throughout this area.

KITCHEN The large kitchen is open plan to the living area and allows views to the lake. A good range of modern kitchen units with quality, Neff integrated appliances. Solid Oak flooring throughout this area.

MASTER BEDROOM Situated on the ground floor this double bedroom has direct access to the sun deck and also has a modern en-suite bathroom accessed by a large sliding door. Lie in bed and admire the views as the sun comes up over the lake. An en-suite bathroom provides a shower, sink and WC. Built in wardrobe & storage cupboard. Oak flooring to bedroom & en-suite. Built in wardrobe space and separate storage cupboard.

BEDROOM TWO Situated next door to the Master, this bedroom is another double, and again has access to the large ground floor sun deck. Oak flooring.

BEDROOM THREE On the first floor now, another great sized double bedroom complete with en-suite. Built in wardrobe with useful hanging space. Oak flooring. En-suite comprises of shower, sink, WC & heated towel rail.

FOURTH BEDROOM Another double bedroom, situated on the first floor, again with stunning lake views. Solid Oak flooring. Built in wardrobe.

FIFTH BEDROOM Currently used as children's bedroom, with two singles, this bedroom could house a double if needed. Window overlooking the front of the property. Built in wardrobe.

FAMILY BATHROOM Again, on the first floor, this bathroom has a bath with shower over, WC and wash-hand basin with beautiful detailed tiling. Tiled flooring

OUTSIDE There are three sun decks in total, all allowing incredible south facing lake views of Howells Mere. The Ground Floor sun deck is the largest, accessed via either the master bedroom of bedroom two. This large sun deck hangs over the lake and comes complete with a large hot tub so you can make use of the outside space, even if the weather isn't perfect. the First Floor sun deck is perfect for a morning coffee or night cap, and again enjoys stunning, south facing lake views. The third and final sun deck, situated on the Second Floor and allows for alfresco dining due to its generous size. One allocated parking space close by, additional parking a very short walk away.

ANNUAL RUNNING COSTS: Remainder of a 999 year lease, approx. 980 years. Ground rent, linked to RPI, reviewed annually, approx. 2,500per annum. Service charge, reviewed annually, not for profit, approx. 5,500per annum. Council tax only applicable if used purely as a second/holiday home and not rented out. This property is currently a well established holiday let rental property, grossing just under 100,000 in 8 months. 12 Months occupancy as a holiday home.

Nearest Stations:

3.16 miles
Kemble
9.65 miles
Swindon
12.69 miles
Stroud
14.01 miles
Chippenham
14.95 miles
Stonehouse

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

£ 580158.75

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
    £ 17498.75
  • 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

£ 55196.25
  • 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

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  • Final Equity Profit
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    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

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This is the property value at the end of the investment based on an assumed rate of % house price inflation.

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