Chapel Court, Shutta Road, East Looe

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Available / For Sale

Seasons Estate Agents

2 Bridgend, Fore Street, Looe, Cornwall. PL13 1HH

5 bedroom house for sale

£489,000

5

Bedrooms

3

Bathrooms

4

Reception

Floorplan

A unique opportunity to purchase a large family home together with retail premises all under one roof and incorporated within the conversion of a delightful chapel. Situated in the seaside town of Looe just a few hundred yards from the beach and harbour the retail element of the property is an established book shop and gallery set over two floors whilst the accommodation is a five bedroom family home, both of which have immense character and charm with many original and interesting features. The layout of the accommodation is such that it would also suit multi generational living whereby two families could each have separate apartments, both self contained and easily achieved with very little effort. The property has two separate entrances both on Shutta and within a few yards of each other, the first gives access to the retail premises whilst the other opens into the accommodation. The retail element comprises ground floor shop with stairs up to the gallery, a large characterful room with doors off to the accommodation on either side of the room. To one side there are three double bedrooms, one with en suite bathroom. Split level kitchen/diner with door onto the roof terrace where you can enjoy superb views over the roof tops of Looe, the harbour and across to West Looe. Family bathroom and utility room. To the other side there is a book store, office, double bedroom, spacious and characterful sitting room that has a feature fireplace complete with wood burning stove, doors from the sitting room open into the garden and a small ornate staircase rises to the primary bedroom with en suite bathroom. Outside there are generous tiered gardens, the upper level of which affords magnificent views and to the front there are two parking spaces. The property is extremely versatile and offers tremendous scope and potential and subject to the relevant permissions being sought the current accommodation could easily be converted into two apartments whilst the retail area could be a third.

Situated on the south coast of Cornwall, Looe is a historic and picturesque fishing town with quaint old buildings, fine restaurants, and a wonderful sandy beach. Divided into East and West by a seven arch bridge and the Looe River, the main town is on the eastern side and offers a diverse range of shops and excellent schools. Looe is easily reached by the M5/A38 and is served by a scenic branch railway from Liskeard that connects through to Plymouth and from here to the rest of the UK.

Accommodation
Five double bedrooms, two with en suites, family bathroom, split level kitchen/diner, utility room, sitting room, office, store room.

Retail Area
Ground floor shop and first floor gallery

Gardens
These are tiered and accessed from the sitting room. They are laid to lawn with beds and borders containing a variety of plants and shrubs. There is also a roof terrace which is accessed from the kitchen/diner. To the front of the property and between the two sets of doors there is a storage shed ideal for kayaks, surf boards, etc.

Parking
Two parking spaces are located at the front of the property.

Utilities
Services: Mains water, electricity, drainage and gas.
There are 16 solar panels on the roof which are owned and connected to the feed in tariff.
Heating: Gas central heating to a system of radiators from a combination boiler situated in the utility room.
Landline and Broadband connected.
For information on the strength of mobile phone signals please refer to www.offcom.org.uk


Tenure
Freehold

Council Tax
Band B

EPC Rating
D55

Restrictions/Access
The property is in a conservation area.

Flood Risk
The property is not in flood zones 2,3, or 3b. (source Cornwall Interactive Mapping)

Planning
The only application we can find on the Cornwall Planning website refers to a notification for consent to fell two Elm trees within a Conservation Area. This was dated March 2010 and approved in May 2010. Source: www.cornwall.gov.uk.

Agents Note
As well as the property offered for sale there are five other homes within the conversion, four leasehold apartments and one freehold house. All of these are separately owned and there are no communal areas that effect this freehold property. It should be noted that the owners of the Old Hall pay into a maintenance fund that covers repairs and painting of all the external parts of the building with the exception of windows and doors. The current payment is 80 per month.

The Book Shop
Stock is available to purchase should a buyer wish to continue running the shop.



Directions
From our office proceed on foot along Fore Street. Take the first turning left, in front of Seasalt, into Shutta. Proceed up the hill for about 25 metres and both entrances to the property can be found on your right. A member of staff will meet you at the second entrance which opens into the accommodation.

Notice
IMPORTANT NOTE: Messrs Seasons Estate Agents Ltd for themselves and for the vendors or lessors of this property whose agents they are give notice that: these particulars are set out as a general outline only for the guidance of intended purchasers or lesses, and do not constitute part of, an offer or contract; all descriptions, dimensions, floor plans, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; no person in the employment of Messrs Seasons Estate Agents Ltd has any authority to make or give any representation or warranty whatsoever in relation to this property.

Utilities
Electric: Mains Supply
Gas: Mains Supply
Water: Mains Supply
Sewerage: Mains Supply
Broadband: FTTC
Telephone: Landline

Other Items
Heating: Gas Central Heating
Garden/Outside Space: Yes
Parking: Yes
Garage: No

New Home: Non New Home

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

£ 406125

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 12225
  • 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

£ 39375
  • 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

Adjust these figures

  %
  %
£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

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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