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Orion Holidays, The Gateway Centre, Spine Road East, South Cerney, Gloucestershire, GL7 5TL
£315,000
Bedrooms
Bathrooms
Reception
A beautiful, south facing, 3 bedroom holiday on the popular Spring Lake. The property is in good overall condition, located in a quiet spot on Spring lake. The property enjoys gorgeous southerly views over Spring lake from its open plan interior and the large sun deck, and the generously sized master bedroom. Spring Lake has a bar/brasserie and a gym and is popular for the water-ski school there. Ideal as a holiday home investment. 999 year lease and 12 months holiday use. EPC Rating D. Council Tax Band C with option to register on business rates if holiday letting, meaning no council tax would be payable.
ACCOMMODATION Spring lake 13 has three bedrooms, one family bathroom, one shower room with WC, an open plan living and dining area, and is completed by the galley style kitchen. There is the option to open up the kitchen to make it an even larger open plan room if that is your preference. The sun deck is accessed via two sets of double doors and provides a ample space to sit and enjoy the sun all day long, whilst also taking in stunning lake views. There are steps that lead down to the communal gardens. Good Wi-Fi speeds via Gigaclear. Electric heating throughout with more recently installed, modern, wi-fi electric heaters.
GROUND FLOOR
LIVING AREA The attractive living/dining area enjoys southerly views out over the water ski lake and comfortably accommodates seating and a dining table and chairs for 6 guests. This space has been modernised from its original design, and has wood effect, laminate flooring and has two sets of French doors, providing access to the sun deck, as well as incredible lake views from the dining/living area. Access to under stairs cupboard.
KITCHEN The kitchen is accessed from the living/dining area and includes a good range of units with a double oven, dishwasher, washing machine, ceramic hob, and fridge. Tile effect laminate flooring, window to front.
CLOAKROOM/SHOWER ROOM Located adjacent to the front door, off of the entrance hall, is a downstairs shower room, with a basin, WC and shower cubicle. Heated towel rail. Tiled flooring.
MASTER BEDROOM A large, attractive room with high ceilings and full length windows that offer an abundance of light and allows those simply stunning views across Spring lake. There is plenty of space for built in wardrobes/storage or en suite if desired. Access to airing cupboard.
BEDROOM TWO This bedroom comfortably accommodates a double or twin beds. Window to front. Carpeted flooring.
BEDROOM THREE The bedroom accommodates a small double or twin beds/bunk beds. Window to front. Carpeted flooring.
FAMILY BATHROOM The Family bathroom features a basin with storage cupboards below, a WC, and a bath with shower over. Heated towel rail and window up high allowing privacy, but also offering good ventilation that some Spring lake properties lack.
OUTSIDE The sundeck is a good size and provides plenty of outdoor entertainment space, including the paved area directly in front of the decked area. Option to extend the decking if desired. Private space protected from the wind, making this decking a real sun trap. The decking is accessed from the living area through two sets of French doors. Parking is outside the front door, where there is space for two cars, with additional parking available a short walk away.
The Spring Lake holiday home development is just 15 minutes away from the Capital of the Cotswolds, Cirencester, and has easy access to the beautiful towns and villages that comprise the Area of Outstanding Natural Beauty that is the Cotswolds.
Resort Facilities Include:
Childrens play area.
Onsite Bar/Brasserie offering food and drink and a great atmosphere
Water Skiing, wakeboarding, ringo's and more can be enjoyed on Spring lake
Leisure Facilities
A whole host of additional leisure pursuits are available in Cotswold Water Park area including: - Water-Skiing, Wind-surfing, Sailing, Canoeing, Fishing (Fly and Coarse), Horse-riding, Picturesque walks and off-road cycling (suitable for children), Clay Pigeon Shooting, Swimming and Golf (Charges apply).
Holiday Use
The lodges are classed as holiday homes and cannot be used as Primary Residences. The potential exists for purchasers to generate additional rental income through holiday lets, please ask for more information.
Annual Running Costs
Ground Rent, reviewed annually, linked to RPI approx. 2,400 per annum.
Remainder of a 999 year lease.
Service Charge, reviewed annually, approx. 3,000 per annum
Council tax applicable if not run as holiday let. Band C
Errors and Omissions excepted (E&OE)
Service charge contribution includes:- water rates, road maintenance, resort lighting, refuse collection, grounds maintenance, satellite television, and on resort leisure facilities.
Transport connections
Nearest train stations: Kemble (1hr10 to London), & Swindon (1hr to London). Nearest motorway: 15-20 minutes from Junction 15 of M4.
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 )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
Orion Holidays, The Gateway Centre, Spine Road East, South Cerney, Gloucestershire, GL7 5TL
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