*** New ultra fast new internet.installed ** INVESTMENT OPPORTUNITY OFFERING POTENTIAL YIELDS OF 7% + The development boasts a modern specification as well as SECURE ALLOCATED PARKING and is conveniently situated a short walk from Peterborough City Centre. This attractive investment opportunity makes ideal living accommodation for both local workers and commuters.
Shared communal area with indivual post boxes and corridor leading to stairs which take you to the first floor corridor with access to all 6 apartments:
Entrance hall has fitted carpet and doors leading:
Kitchen/Lounge 5.862 x 5.104 max (19'2" x 16'8" max)
The fitted kitchen has a matching range of base and eye level units and work top space over. 1 1/2 stainless steel sink, and plumbing for washing machine. The kitchen has a built in electric oven and hob and an integrated fridge freezer. Tiled flooring on the kitchen area and carpet for the lounge area. The lounge area has two floor ceiling sash windows.
Master Bedroom 2.941 x 3.128 max (9'7" x 10'3" max)
The master bedroom has fitted carpet and a double glazed window to rear
Bedroom Two 3.888 x 2.657 max (12'9" x 8'8" max)
Bedroom with fitted carpet with double glazed window to rear
Fitted with a three piece suite compromising of wash hand basin, WC and deep panelled bath with hand held shower.
PARKING: The property comes with secure parking, with one allocated space.
bike storage available
The property has a 125 year lease started from 01 Jan 2014
Service charge: £175 per month
Vendors Note: The vendor has informed Belvoir that the service charge is payable monthly however if funds are not used throughout the year then they are reimbursed to all owners. On average over the last 2 years the vendor has received between £500-£600 back per year.
Based on a sale at £110k and potential rental income of £625pcm (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 £32,150 (including deposit, stamp duty and conveyance)
- Annual pre tax profit of £1,504 = 19.60% pre tax income on capital used (these assumptions include service/building insurance costs and on a self managed basis)
- Gross Yield 6.54%
THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER BELVOIR PETERBOROUGH NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.