2 bedroom flat for sale

£245,000

2

Bedrooms

1

Bathrooms

Floorplan

Service charge (For Leasehold tenure): 2100 per year.
Ground rent (For Leasehold tenure): 10 per year.

the property will be available for viewing from the beginning of September, to register your interest please telephone us at the office. This is a delightful and spacious 1st floor flat set in a Grade 2 Regency listed property overlooking Rock Park with glimpses of the River Taw. It is situated within an easy, almost level walk of the town centre and is available with no on-going chain and being highly recommended for viewing. The accommodation comprises of Communal entrance porch, hall & staircase with access to the flat private hallway bright 22 sitting room with 2 sets of French doors leading onto a private balcony there is a fitted kitchen with a range of units built-in double oven hob & extractor 2 bedrooms fully tiled shower room there are communal gardens to the front of the property whilst to the rear is an enclosed car parking area and garage en bloc with automated up & over door light & power connected this is highly recommended occupying a sought after location and, in our view one of the prime flats within this building

Features
  • Open Plan Lounge
  • Oven/Hob
  • Gas Central Heating Combi Boiler
  • Balcony


Property additional info

communal entrance porch:
Front door off

communal entrance hall:
Night storage heaters staircases to each floor and communal landings

entrance hall:
Door off radiator fitted carpet

sitting room: 22 10 x 17 2 (6.95m x 5.23m)
2 French doors either side of the room provide access to a private balcony to the front of the building which is full width of the sitting room. This room enjoys delightful views across the corner of Rock Park and glimpses of the Taw Estuary feature fire surround 2 double radiators tv point telephone point entry phone ornate cove ceiling and central ceiling rose 4 wall light points fitted carpet

kitchen: 13 3 x 9 5 (4.05m x 2.88m)
Range of units comprising inset 1 1/2 bowl single drainer stainless steel top sink unit mixer tap h&c draws and cupboards and space below for plumbing for washing machine inset gas hob return unit with space below built-in double oven with cupboards above & below range of wall units glazed display cabinet cooker hood small upright unit and further small work surfaces cupboard below double radiator wall mounted Glo worm gas fired combination boiler feeding domestic hot water and central heating system vinyl floor covering

lower hallway:
Radiator 3 built-in storage cupboards access to loft storage space staircase leading to lower lobby door to rear

bedroom 1: 13 11 x 9 11 (4.23m x 3.02m)
Double aspect room double radiator coving to ceiling fitted carpet

bedroom 2: 9 1 x 8 2 (2.78m x 2.48m)
Radiator coving to ceiling fitted carpet

shower room: 8 2 x 5 11 (2.48m x 1.81m)
Having fully tiled walls and white suite comprising double walk in shower with glass surround and sliding door chrome shower unit low level wc inset vanity wash hand basin with mirror spot lighting draws and cupboards below heated towel rail fitted carpet

rear lobby:
Stairs off, Coconut matting, door to outside

outside:
There is a very pleasant walled front garden accessible via iron gates fronting onto Taw Vale, flagstone pathway leading to the front of the property. There are areas of lawn, planted beds and borders which are a particular delight during the summer months. Vehicular access to the rear of the building is via a driveway at the side of 1 Union Terrace and this leads to an enclosed tarmaccadamed hard standing and parking area and a block of garages, with some additional communal parking spaces. Flat 3 has its own garage with automated roller door. In addition there is a further garden area directly behind the garages

garage en bloc: 15 11 x 8 10 (4.84m x 2.70m)
Automated up & over roller door light & power connected loft storage space

services:
Mains water electricity gas & drainage connected

council tax:
Band B. Please note council tax bandings can be reassessed after a change of ownership, for further information please contact the local authority.

EPC:
E


Tenure:
The flat is being sold with the balance of a 999 year lease. Granted on the 29th September 1987. There is an annual ground rent of 10 payable on 6th April each year, currently the residents of Regency House pay 175 pcm maintenance contributions towards the buildings decorating, insurance, gardening and upkeep of the communal areas. We understand from the vendor that the ground rent charge may also be included within this figure. We await a copy of the lease and once to hand it will be available for interested parties or their solicitors to inspect.

Viewing:
By appointment through Woolliams Property Services. Telephone: Office Hours Out of Office Hours: Or

useful information:
To find out further useful information on this property such as bin collection days, whether this is a conservation area, planning history etc why not check the North Devon Council website:

Directions:
// pool.luxury.finest

Features
  • Leasehold

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

£ 192575

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
    £ 6125
  • 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

£ 8825
  • 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.

£

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.

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