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14 Tynwald Street, Douglas, Isle of Man, IM1 1BG
£1,000,000 Fixed Price
Truly unique development opportunity to complete the conversion of landmark Central Douglas church to 10 Luxury Apartments with a GDV in excess of 3m.
Bucks House has undergone an extensive conversion program to date, that includes a new and insulated roof complete with Welsh Blue Slates, custom made aluminium guttering, hand crafted internal stair cases, new window lintels, insulated noise cancelling flooring, extensive improvements to external stone work as well as many other improvements.
Summary - Bucks House is a truly unique opportunity to acquire a partially converted church with full planning consent into ten luxury Central Douglas apartments over four floors with a gross development value in excess of 3m.
Offered for sale at a firm 1m, plus the retention of one completed apartment, this would suit a developer seeking to continue the extensive high specification works carried out to date to create a landmark and 'one of a kind' building situated close to the Douglas business district, town centre and all of its amenities.
Building features include stunning internal architectural archways, striking stain glassed windows including a unique feature window, bell tower, lift shaft and many others. The current owner has commenced a redevelopment program committing significant spend to high quality materials and craftsmanship. Development work to date includes a newly insulated roof, external stonework, joists, window lintels ensuring the building is both secure and fully water tight.
Building materials already acquired will be included in the sale, and there is the option to hire the current owners equipment as required. The garaging on the lower ground floor houses nine covered parking spaces with the option to create additional external spaces within the property boundary.
Bucks House is a conservation property. Architects drawings, costings to date and additional information about the property are available to interested parties by contacting Plum Properties.
Additional Information - - New Insulated Roof using Welsh Blue Slates and 150mm of Kingspan
- Double Powder Coated Aluminium Custom Made Guttering and Soffits
- Reinstated Stain Glass Windows
- New Concrete Window Lintels Throughout
- Significant Improvement Program for External Stonework
- Hush Noise Reducing Flooring System with 15mm OSB Boards and 100mm of Rockwool Insulation
- Three Service Chutes
- Suitable for Electric Heating System and Pressurised Hot Water Cylinders
- All Services Nearby, with Fibre Broadband Available
- Option to Include Lift with Feature Glass Wall
Directions - Travelling out of Douglas up Prospect Hill, proceed through the traffic lights that intersect with Circular Road, continuing onto Bucks Road. After travelling a short Distance, Bucks House can be found on the left hand on the corner of Merton Bank, the third left turning after Circular Road.
New Home: Non New Home
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.
14 Tynwald Street, Douglas, Isle of Man, IM1 1BG
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