Plot, Cathedral View, Wentworth Street, Peterborough, PE1 1DH
1 Bed Apartment For Sale
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- Potential Gross Yield - 6.81%
- Centrally located
- High rental demand
- 125 year lease
- 10 year warranty
- Open plan living
- Integrated appliances
Additional Information**BUY TO LET OPPORTUNITY NOT TO BE MISSED**
One bedroom city centre apartment -10.71% pre tax income on £27.7k capital employed (based on 25% deposit and 2.29% int only loan inc managed fees and service/ground rent charges) - Gross Yield 6.72%. One bed apartment, First floor, lift available, Open plan living space.
- Cathedral View
- This city centre office building has been converted to 29 residential units comprising of one and two bedroom apartments. These impressive new apartments boast a superb specification with sleek fitted kitchens, integrated appliances and are ideally located in at the heart of the vibrant City Centre of Peterborough.
- Peterborough is one of the fastest growing cities in the UK, which is delivering a billion pound regeneration programme, and boasts unrivalled transport links and exciting plans for growth.This development will offer fantastic City Living for those who work locally but also for commuters who work in such areas as London and Cambridge as they are located in close proximity to the bus and railway stations.
- Communal Entrance
- The communal entrance is a secure entrance from Wentworth Street. It has access to the post boxes, lift and stair access to all floors.
- Entrance Hall
- Entrance hall with doors leading to kitchen/lounge, bedroom and bathroom
- The magnet luna kitchen is fitted with a matching range of base and eye level units with laminate worktop over, stainless steel sink with chrome monobloc mixer tap. The fitted appliances are, AEG electric oven, hob and extractor hood, AEG integrated dishwasher, and a AEG integrated fridge freezer.
- Double bedroom with double glazed windows
- Shower Room
- Fitted with a two piece suite comprising of WC, wash hand basin and the shower cubicle has a Baristan rainfall shower head. The shower room also has a chrome towel rail fitted. The flooring included is a ceramic tile.
- Leasehold Information
- The developer has informed us that the property has a new lease of 125 years
The service charge is £650 per annum
The ground rent is £350 per annum
The ground rent for the parking space is £100 per annum
- Investor Information
- Based on a sale at £100k and potential rental income of £575 pcm (please note that these figures are an illustration based on an average buy to let mortgage and deposit and actual costs may vary)
- 75% loan assuming standard BTL loan at 2.29% (interest only)
- Capital used £27,750 (including deposit, stamp duty, conveyance lender admin fees)
- Annual pre tax profit of £2,972 = 10.71% pre tax income on capital used (these assumptions include a maintenance estimate, managed fees and block management charges)
- Gross yield - 6.72%
- Belvoir Disclaimer
- Every care has been taken with the preparation of these Particulars but complete accuracy cannot be guaranteed. If there is any point, which is of particular importance to you, please obtain professional confirmation, or alternatively ask us and we will verify the information for you. All measurements quoted are approximate. These Particulars do not constitute a contract or part of a contract
For more details call 01733 511099