Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£760,000 Fixed Price
The unit occupies the ground floor of this 4 storey building plus mezzanine.
The unit originally had planning consent for live-work and the property still has a commercial rates assessment and a council tax bill, although the unit has in recent years been used solely as an office.
The unit is mainly open plan, 720 sq.ft. approx, plus shower room, w.c and kitchen, bringing a total of 800 sq.ft. approx. GIA.
Lease 125 years from 25.3.01
Location
Set in a corner position fronting Wheler Street with a longer return frontage onto Calvin Street. The building is visible from Commercial Street. Local operators include Hawksmoor Spitalfields, Urban Outfitters and Watch House. Easy access to A10 with Shoreditch High Street train station (Windrush) line a short distance away.
Business Rates
Rateable value - 11,000 (as taken from Gov.uk)
This is not the amount you will pay. The rateable value is used to calculate your rates bill.
Please refer to the Local Authority for more information on rates
Residential - Council Tax Band B
Legal Costs
Each side to bear their own legal fees
Tenure
Long Leasehold 125 years from 25.3.01
Ground rent 200 pa rising to 1200 pa
EPC
Energy Rating D - Valid until June 2028
Viewing
Via the owners sole agents PSS Commercial.
VAT
Under the Finance Acts 1989 and 1997 VAT may be levied on the purchase price. We recommend that the prospective buyers establish the VAT implications before entering into any agreement.
Map location is not available for this property.
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.
The Property has been saved to your favorites
/ 5
It's quick and easy
