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68 Wellington Street, LU1 5AA
£925,000 Offers in excess of
FANTASTIC DEVELOPMENT SITE ON OLD BEDFORD ROAD WITH PLANNING FOR 4 FLAT AND 2 X 3 BEDROOM HOUSES...My-Estate are proud to offer this superb development site, located on Old Bedford Road. This site has recently had planning permission granted for the premises of The English Rose pub to be converted into 3 x 2 bedroom flats, and x 1 bedroom flat, along with the erection of a two story side extension comprising 2 x 3 bedroom houses.
Location:
This large plot occupies a prominent position on the popular Old Bedford road area, which benefits from its proximity to Junction 11 of the M1 motorway, and the M25 motorway Junction 6A is located 12 miles from Luton. Luton has regular rail services to London and the Midlands and offers a choice of three separate railway stations being Luton Parkway Airport, Luton and Leagrave. A typical train journey from London to Luton will take approximately 30-45 minutes. The plot less that a 10 minute walk to Luton train station, town hall and shopping centre. Almost every conceivable amenity is within walking distance from the site.
This site has huge development potential - viewing is highly advised.
Exterior:
The original 'English Rose' pub premises occupies a prominent position, with many original features. The plot has an access gate for vehicles, and the two-story side extension comprising the 2 x 3 bedroom houses would be built on the current premises beer garden. Both houses would enjoy generous back gardens.
Additional Information:
Luton is a vibrant, multicultural and cosmopolitan community. Here are some of the facilities Luton has to offer: Museums, Theatre and Cinema Complex, Biggest European Carnivals also the Town Centre which has a wide variety of shops and markets which is only seconds away.
To arrange a viewing, please contact My-Estate Luton on 01582 380 330.
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.
68 Wellington Street, LU1 5AA
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