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71 – 75 Shelton Street, Covent Garden, London
£90,000 Guide Price
Bedrooms
Bathrooms
Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid 90,000
Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid 90,000
This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.
This one-bedroom apartment is situated on the first floor of an attractive period property. The spacious living room provides ample space for relaxation or entertaining guests. The communal gardens offer sea views, providing a serene environment to enjoy the outdoors.
Allocated parking ensures convenience, making this an appealing choice for those seeking a second home.
Located in The Pitts, Ventnor, this apartment benefits from its proximity to the beach and Ventnor esplanade. The area is known for its tranquil atmosphere and natural beauty, making it an ideal location for those wanting a peaceful retreat. The property is well-suited as a holiday home or bolt hole due to its convenient location and serene surroundings.
The long lease of 964 years adds significant value to this leasehold property, providing peace of mind for future ownership. Whether youre looking for a personal getaway or an investment opportunity, this apartment offers both comfort and practicality. Dont miss the chance to own a piece of this charming location; contact us today to learn more.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as The Auctioneer.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £389.22
Total Interest: £50,119.26
Overall Total: £140,119.26
Amortization For Monthly Payment: £389.22 over 30 years ( Based on 3.20% Interest )
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 2025 | £2,853.50 | £1,817.14 | £88,182.86 |
| 2026 | £2,794.49 | £1,876.15 | £86,306.71 |
| 2027 | £2,733.57 | £1,937.07 | £84,369.64 |
| 2028 | £2,670.66 | £1,999.98 | £82,369.66 |
| 2029 | £2,605.72 | £2,064.92 | £80,304.74 |
| 2030 | £2,538.66 | £2,131.98 | £78,172.76 |
| 2031 | £2,469.43 | £2,201.21 | £75,971.55 |
| 2032 | £2,397.95 | £2,272.69 | £73,698.85 |
| 2033 | £2,324.15 | £2,346.50 | £71,352.36 |
| 2034 | £2,247.95 | £2,422.69 | £68,929.66 |
| 2035 | £2,169.27 | £2,501.37 | £66,428.29 |
| 2036 | £2,088.05 | £2,582.60 | £63,845.70 |
| 2037 | £2,004.18 | £2,666.46 | £61,179.24 |
| 2038 | £1,917.59 | £2,753.05 | £58,426.18 |
| 2039 | £1,828.19 | £2,842.45 | £55,583.73 |
| 2040 | £1,735.88 | £2,934.76 | £52,648.97 |
| 2041 | £1,640.58 | £3,030.06 | £49,618.91 |
| 2042 | £1,542.19 | £3,128.46 | £46,490.46 |
| 2043 | £1,440.59 | £3,230.05 | £43,260.41 |
| 2044 | £1,335.70 | £3,334.94 | £39,925.47 |
| 2045 | £1,227.41 | £3,443.24 | £36,482.23 |
| 2046 | £1,115.59 | £3,555.05 | £32,927.18 |
| 2047 | £1,000.15 | £3,670.50 | £29,256.69 |
| 2048 | £880.95 | £3,789.69 | £25,466.100 |
| 2049 | £757.89 | £3,912.75 | £21,554.24 |
| 2050 | £630.83 | £4,039.82 | £17,514.43 |
| 2051 | £499.64 | £4,171.00 | £13,343.43 |
| 2052 | £364.19 | £4,306.45 | £9,036.98 |
| 2053 | £224.35 | £4,446.29 | £4,590.68 |
| 2054 | £79.96 | £4,590.68 | £0.00 |
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.
71 – 75 Shelton Street, Covent Garden, London
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Wed Jun 18 2025
All confirmed! We look forward to speaking with you.
Wed Jun 18 2025
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