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£290,000
Bedrooms
Bathrooms
Reception
Situated on the first floor (with a lift) of a Grade II-listed building the property is one of 66 beautiful residential apartments that occupy a former 18th Century printing press building.
This modern conversion in the business district of N.O.M.A (close to the city centre) is steeped in history and has tons of character blending thoughtful design with premium materials and a wealth of gorgeous original features.
The apartment is fully furnished to a high specification, with an open-plan living area and a modern kitchendining room complete with a dining table and integrated appliances (electric oven/grill and hob, washer dryer, dishwasher, fridge freezer).
There are two double bedrooms and two bathrooms. The main bathroom has a bath with a shower and the ensuite has a shower.
The property is located within close proximity to Manchester Victoria Railway Station and an enviably 60-second walk to
N.O.M.A, a 2-minute walk to Victoria Train Station and a 5-minute walk to the Central Shopping District - Selfridges, Harvey Nichols,
Arndale Shopping Centre, Gucci, Louis Vuitton and more!
Lease:
Lease?is 250 years from and including 30 June 2020
Ground Rent
250 per annum to be reviewed in 2030 and every 10 year anniversary following
Annual Service Charge
Approximately 2.65 per square foot per annum - (1,945 2020 - 2021) includes building insurance, cleaning and maintenance services, communal electricity and water.
Additionally, a portion of the charge is added to a Reserve Sinking Fund.
Council Tax Band: D (Salford City Council)
Tenure: Leasehold (246 years)
Ground Rent: 250 per year (reviewed every 10 years)
Service Charge: 1,945 per year
Entrance hall
Entrance
Kitchen/lounge
Open plan Kitchen/Lounge with build in Fridge/freezer and washing machine
Bedroom 1
Double bedroom with en-suite
En-suite
Bedroom 2
Double bedroom with en-suite
En-suite
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.
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