3 bedroom detached for sale

£475,000 Guide Price

3

Bedrooms

1

Bathrooms

Floorplan

This is a unique opportunity to acquire a substantial detached family home with the potential to re-establish a business on-site. Upon first impression, Bedford House presents itself as a spacious, character-filled period home situated in a commanding location within the popular village of Bere Alston.

What sets this property apart is its potential to recreate a coffee shop or bistro, as it comes equipped with a fully fitted commercial kitchen and a dining area already set up for a fresh business venture. Additionally, the property is adjacent to the Tap Hill takeaway, offering further business prospects.

A significant bonus is the self-contained one-bedroom annexe located in the rear courtyard, which can serve as an outdoor entertaining space for the main house or be utilised as part of the business operation. This exciting opportunity allows you to generate multiple streams of income while enjoying the comforts of a spacious 3-bedroom detached family home.

Description and Situation:

This delightful home is situated in the centre of the village of Bere Alston close to shops, Doctors surgery and the local Train Station.

When entering Bere Alston, proceed down along Bedford Street and Bedford House can be found at the end of Bedford Street, at the junction of Fore Street.

THE OPPORTUNITY:

This property offers the potential for three separate incomes:-

  • A Coffee Shop/Bistro that lends itself to providing a community based business in close proximity to the village centre. There is a demand for a central meeting place for locals and visitors.
  • Adjacent to the property is a detached Fish and Chip Shop/take away.
  • A self-contained one bedroom annex offers short/long term rental possibilities.
  • Bedford House accommodation:

    Access to the main house is from Bedford Street with a main gate that accesses the walled garden that is laid to lawn with mature trees and shrubs with views towards Cornwall.

    The main doors to the house leads into a spacious porch/cloakroom area with a further doorway into the Hall, leading to:-

    Kitchen: Fitted with a range of base and wall units, with dual aspect windows to the front overlooking the front garden and rear overlooking the Courtyard. The kitchen is fitted with a double oven, gas hob with stainless steel splashback and extractor, integrate under unit fridge and dishwasher and rear door access to the courtyard and further Utility Area.

    Sitting Room: Spacious double aspect room with open feature fireplace and slate hearth.

    From the Hallway, there is access to the Dining Area (formerly The Voting Tree) which is a large versatile room with solid wood flooring and a bay window that was originally part of a bakers and also a butchers.

    The Dining Area has access through to the:-

    Commercial Kitchen: Providing a wide range of industrial cooking units, oven with gas hob, fridge freezers, extractors, sink and access to the rear courtyard.

    Upstairs accommodation:

    Master bedroom: Large double bedroom with feature recessed window, character features.

    Bedroom Two: Large double with character features.

    Bedroom Three: Small double with feature recessed window and character features.

    Family Bathroom: White bathroom suite with bath, w.c and handbasin, part tiled to shower and fully tiled flooring, airing cupboards and feature recessed window with opaque vanity glass.

    Annex accommodation:

    The Annex is accessed via its own entrance from the courtyard and provides on entry:

    Bathroom: Large shower unit with electric shower, white had basin and w.c plus storage.

    Lounge: Currently set up as an Office, window overlooking Courtyard.

    Bedroom: Double bedroom with window to front overlooking Courtyard.

    Services: All mains services, gas. electric and water.

    AGENTS NOTES: Fixtures, fittings, appliances or any building services referred to does not imply that they are in working order or have been tested by us. The suitability and working condition of these items and services is the responsibility of purchasers.

    Council Tax Band: C



    Features
    • Freehold

    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

    £ 394575

    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
      £ 11875
    • 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

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    £

    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

    £ 38325
    • 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

    £
    • 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.

    Notes

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