** CITY CENTRE LOCATION ** An exciting opportunity for INVESTORS & FIRST TIME BUYERS to purchase a BRAND NEW city centre apartment. The development boasts a high specification as well as SECURE ALLOCATED PARKING and is ready to move in NOW! The development is conveniently situated a short walk from Peterborough City Centre, Peterborough Cathedral, Queensgate Shopping Centre and a variety of local bars and restaurants.
Park House, a stylish residential development in the heart of Peterborough, located on Park Road just minutes walk from John Lewis Store and Queensgate shopping Centre. It is 0.7 miles to Peterborough Station just a 14 minute walk giving access for commuters to Central London (Kings Cross) in just 45 minutes (due to reduce down to 37 minutes by 2018).The Building comprises of 24 one bedroom apartments and all come with a reserved secure parking space.
Each apartment has been carefully thought out by the design team to maximise the effective use of light, space and functionality. The high quality fittings and attention to detail are evident throughout.
Park House has been designed with an exacting level of detail to maximise both the usability and functionality of each apartment and the specification throughout ensures that they are built to not only look stunning but to be maintenance free for years to come.
The communal areas have been designed to create an impressive entrance to owners and their guests. The communal area benefits from a lift travelling to all 3 floors and access to rear communal car park area.
Entrance into the apartment is greeted with laminate flooring and doors leading to open plan kitchen/living area, double bedroom and family bathroom.
OPEN PLAN KITCHEN / LIVING AREA
The Kitchen area is fitted with a matching range of gloss finished base and eye level units with built in single oven, hob and extractor fan, stainless steal sink unit with drainer and mixer tap over, integrated fridge/freezer, space for washer / dryer, task lighting to work surfaces, fitted with laminate flooring, open plan to living area.
Double sized bedroom fitted with carpet, UPVc double glazed window to front aspect, TV point.
Fitted with a three piece suite comprising of vanity wash hand basin, walk in shower cubicle with tiled surround and low level WC. The shower room also has a chrome towel rail fitted and ceramic tiled flooring.
Secure allocated parking.
The developer has informed us that the property has a new lease of 250 years
The developer has informed us the approximate service charge annually is £923.18
Approximate ground rent annually is £200
Based on a sale at £108,000 and potential rental income of £625 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 2.49% (interest only)
- Capital used £31,590 (including deposit, stamp duty and conveyance)
- Annual pre tax profit of £4,533 = 14.35% pre tax income on capital used (these assumptions inc service charge and ground rent estimates and on a self managed basis.)
- Gross yield 6.66%
Help to Buy
The Government has created the Help to Buy scheme to help purchasers to buy their own home. Whether you want to get onto the housing ladder or move up it, Help to Buy makes it possible to buy a new-build home priced up to £600,000 with as little as a 5% deposit.
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. All measurements quoted are approximate. These Particulars do not constitute a contract or part of a contract