***Ready Made Buy to Let Opportunity***
Spacious open plan living, situated walking distance from the recently refurbished Ortongate Shopping Centre as well as Bushfields Sports Centre, Orton Medical Centre and Ormiston Bushfields Academy. The property is easily accessible from junction 17 of the A1.
The Orton Centre is located just three miles from central Peterborough and within close proximity to the Lynch wood Business Park. The complex is located above shops and offers a range of facilities including a co-op supermarket,
Secure coded entrance, with stairs and lift leading to all floors.
Apartment Entrance Hall
Entrance hall into the apartment is fitted with carpet and has doors leading to lounge and kitchen, bedrooms and bathroom
Fitted three piece suite comprising of WC, wash hand basin and bath with shower over. Vinyl flooring.
Open Plan Lounge / Kitchen 4.561 x 4.445 / 2.354 x 2.551 max (14'11" x 14'6"
Lounge is fitted with carpet, two windows to rear.
Kitchen is fitted with a matching range of base and eye level units, built in electric oven, hob and extractor hood over. Space for washer dryer and fridge freezer
Master Bedroom 3.285 x 2.666 (10'9" x 8'8")
Fitted with carpet, Velux window to rear.
Bedroom Two 3.061 x 2.805 (10'0" x 9'2")
Fitted with carpet, velux window to rear.
The vendor has informed us there is 125 year lease started from 2014.
The service charge and ground rent totals at approximately £1500 per annum.
Based on a sale at £97.5k and potential rental income of £610pcm (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 of 2.49% (interest only)
- Capital used £28,650 (including deposit, stamp duty and conveyance)
- Annual pre tax profit of £2,179 = 7.61% pre tax income on capital used (these assumptions include a maintenance estimate)
- Gross yield 7.19%
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