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£3,900,000
'' DEVELOPMENT OPPORTUNITY WITH PLANNING PERMISSION ''
Situated in this highly sought after location the existing property which sits in circa 0.51 acres has recently been granted planning for Demolition of existing dwelling, garage and gym. Redevelopment of site to provide three storey building with flat roof, comprising 8 x 3 bed flats with basement level parking to include electric vehicle charging points and cycle store; bin store, associated landscaping and continued use of access via Watford Road. (Revised application.) Ref No: 24/0115/FUL
These 8 luxury apartments will range in size from 1661sq ft to 2014 sq ft each having 2 underground car parking spaces and balconies.
The proposed development will sit in communal gardens and will have under ground parking for 16 cars making this a desirable project for any discerning developer looking to develop in this highly sought after location which is situated within easy reach of Radlett mainline station (Thameslink -which a journey time of approx. 20mins to Kings Cross), Radlett shopping centre and some of the areas most sought after schools, so residents can enjoy the best of both suburban tranquillity and urban convenience.
This opportunity is a rare find in this location and having already handled a number of similar developments in this location means that our knowledge and expertise in respect of demand could not be more up to date.
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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