Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£90,000 Guide Price
Bedrooms
Bathrooms
A lovely one-bedroom retirement apartment in a beautiful development offering exceptional harbour views from the homeowners lounge and communal gardens.
The service charges are incredibly reasonable which makes this a very attractive buy.
Its a perfect place to call home and move on with another chapter in life. Many of the residents who live here use it as a safe and secure place to base themselves and it also allows them to live and enjoy life in the UK and further afield.
It is also a great rental investment as it can be let out to tenants over 60 years old. There would be high demand for this as a rental.
Local agents suggest around 850pcm - 925 pcm, 10,200 - 11,100 per annum.
This would be over Gross 11.5% Yield and 7.89% Net Yield (After Service Charges and Ground Rent) on 850 pcm.
Ilfracombe is a charming coastal town located in North Devon, England, known for its picturesque harbour, stunning views, and rich history. The town offers local GP services and a pharmacy, with more extensive healthcare available in nearby Barnstaple.
It has a wonderful active community and with so much on the doorstep such as Exmoor, Coastal Path, Woolacombe, Saunton, Lynton, Lynmouth, Barnstaple, Croyde and much much more, there is plenty to keep busy.
Ilfracombe enjoys a mild coastal climate, with moderate winters and summers.
This property is exclusively available for individuals aged 60.
Energy Efficient | Pet Friendly
In more detail:
Lantern Court is a fantastic development located in a prime position with breathtaking views over Ilfracombe Harbour, Lantern Hill, Capstone, the Bristol Channel, and the distant Welsh coastline. This development is designed for residents over 60 years of age, offering a wide range of on-site facilities to ensure a comfortable and enjoyable lifestyle.
The community features a beautiful communal lounge with a large balcony showcasing magnificent coastal views. Other amenities include a lift serving all floors, a mobility scooter store, a laundry room, and a landscaped garden with a harbour viewing deck.
In addition to the House Manager, who ensures the smooth running of the development, there is a 24-hour emergency call system across both apartments and communal areas. The development also offers a guest suite for family and friends, available for a small nightly charge.
A strong sense of community exists within Lantern Court, with a variety of activities such as coffee mornings, games and quiz nights, themed events, and occasional outings. Participation is completely voluntary, allowing homeowners to join in as they wish.
Location:
Lantern Court is ideally located within walking distance of the high street, seafront, and local amenities, including:
Post office, pharmacy, hairdresser, banks, and supermarkets (CO-OP), St. Jamess Park, with direct pathways leading to the harbour. For the bigger shop there is a large Tesco nearby, deliveries from Waitrose, Sainsburys, and other supermarkets are available also at Lantern Court.
Car Parking:
Allocated parking spaces are available, subject to availability
500 per annum for an undercover parking space
Permits are issued on a first-come, first-served basis
Please check with the House Manager for availability
Service Charge (Annual):
2,678.85 (for the financial year ending 31/03/25)
What the service charge includes:
House Manager to oversee the development
Building and grounds maintenance (window cleaning, gardening, upkeep of communal areas)
24-hour emergency call system
Monitored fire alarms and door camera entry security systems
Lift maintenance
Heating and lighting in communal areas
Contingency fund for internal and external redecoration of communal areas
Buildings insurance, water, and sewerage rates
Note: The service charge does not cover costs like Council Tax, Electricity, or TV fees.
Ground Rent:
425 per annum - Next review: January 2027
Leasehold: 125 years from 1st January 2012
Additional Information & Services:
Superfast Fibre Broadband available
Mains water and electricity
Electric room heating
Mains drainage
24-hour Tunstall emergency response system
For further information or to arrange a viewing please contact Charlie or Will.
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.
The Property has been saved to your favorites
/ 5
It's quick and easy
