5 bedroom terraced for sale

£1,500,000 Offers in excess of

5

Bedrooms

2

Bathrooms

Floorplan

A rare opportunity to purchase a slice of Lewes history. A delightful, quirky, charismatic Grade II Listed five bedroom terraced cottage - part medieval, part Jacobean - with the most glorious long rear garden of approximately 200ft in the highly sought-after area of Southover. Believed to be of timber frame construction with a roof principally of Horsham Stone to the front with stone and slate to the rear, this carefully preserved and much loved home offers superb family living in the very heart of Lewes. Viewings strictly by appointment through the Lewes Office.

DESCRIPTION:

A rare opportunity to purchase a slice of Lewes history. A delightful, quirky, charismatic Grade II Listed five bedroom terraced cottage - part medieval, part Jacobean - with the most glorious long rear garden of approximately 200ft in the highly sought-after area of Southover. Constructed of solid stone, brick and flint with a timber frame to the medieval rear elevation, and with a pitched roof principally of Horsham Stone, this carefully preserved and much loved home offers superb family living in the very heart of Lewes.

The idiosyncratic accommodation comprises a 400 year old solid Oak Front Door into a tiled Entrance Hall giving immediate access to the rear garden via a covered passage; Dining Room with feature open fireplace, sash window, tiled floor, door to staircase; well fitted Kitchen with a two oven gas fired Aga, electric hob, eye-level electric oven and microwave, Butler€™s sink, solid wood work surfaces, brick tiled floor (this room dates from medieval times and was originally open up to the vaulted ceiling); Rear Lobby with velux roof window, cupboard housing wall mounted Potterton gas fired boiler, quarry tiled floor, door to outside; Utility Room with low level WC, under counter space for washing machine and tumble dryer, fitted wall cupboards; Sitting Room with superb open feature fireplace with cast iron grate and wooden mantel and surround; wood panelled wall, laminate wood effect floor; Cellar with electric light and power, window to old coal Shute, fitted shelving, brick paved floor.

Two staircases connect the First Floor accommodation. Staircase from Dining Room up to double aspect Study/Bedroom 5 with medieval vaulted ceiling, Oak wood floor; Principal Bedroom with sash window, feature fireplace with cast iron grate and surround, built-in wardrobe; Family Bathroom with rubber tiled floor, roll top free standing bath with shower over, feature brick fireplace, low level WC, wooden vanity unit with inset hand wash basin, wood panelled wall; Dressing Room with wood panelled wall; Guest Bedroom 2 with sash window; landing with staircase from Sitting Room and open wooden staircase up to Second Floor with fitted cupboards over stairs; Bedroom 3 with vaulted ceiling, eaves storage cupboards, roof window; en suite Bathroom with panel bath, pedestal hand wash basin, low level WC, vinyl floor covering, small roof window; Bedroom 4 with vaulted ceiling, wood panelled wall, range of fitted wardrobes and airing cupboard housing hot water tank, fitted shelving.

All main services. Gas fired central heating serving panel radiators. A wealth of exposed beams and period features throughout. Lewes District Council Tax Band F.


Outside:

An unexpected and truly charming North-facing rear garden delivers an instant €˜wow€™ factor as one steps onto the large brick paved terrace to appreciate the depth and space within this lovely 200ft country garden. Bordered by flint walls and mature shrubs this terrace has a recessed area with established vine from which to enjoy al fresco dining and the views over the garden. Abutting the terrace is an area of lawn with planted borders, a small flint built shed and a low box hedge to either side of the steps leading down to the lower lawn with high Yew hedge to one side, ornamental pond, screened splash pool with decked surround, further decked area to catch the morning sun, wooden Summerhouse with electric light and power, large Acer tree, mature Apple tree, and further garden shed. Beyond all of this is a very generous Kitchen Garden with paved paths, prepared beds, Greenhouse, garden shed, Bay tree, all enclosed by flint walls and close boarded fencing.

Agent€™s Note: The railings to the front of the property have a separate Grade II listing.

LOCATION:

Gables Cottage is situated on one of the most historic and attractive streets in Lewes, a short walk from the town centre and main line railway station (London - Victoria in just over the hour). Southover Grange with its beautiful public gardens is very close by.

Lewes is a thriving county town, situated within the South Downs National Park. The town has a good range of independent shops, the renown Depot cinema, three major supermarkets, a comprehensive range of cafes and restaurants, and schooling for all ages. The internationally renowned Glyndebourne Opera House is situated on the edge of Ringmer, about 3 miles distant.

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

£ 1256450

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
    £ 37500
  • 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

£ 131450
  • 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.

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Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

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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
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    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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