TITLE SPLIT OPPORTUNITY - NO WORKS REQUIRED

Description

INVESTMENT OPPORTUNITY

Clarendon Road - Financial Breakdown – 3x Mixed Bedroom Apartments
Purchase Price: £150,000.00
Deposit: £38,912.50 (includes 6 months interest for bridging loan)
Set up costs/ Design & Build Fees: £17,500.00
Minor Build Works: £5,000.00* approx. (subject to further onsite visits)
Broker Fee: £4,000.00
Legals Estimate: £4,000.00
Stamp duty: £8,000.00
Survey: £1,000.00
Total Project Cost: £195,912.50
Total Cash Outlay: £83,412.50

Projected Rental Income: £650.00 PCM x1 £900.00 x2 = £29,400.00 per annum
Management: £3,528.00 including VAT - (10% fully managed)
Net Income: £25,872.00
Mortgage: £9,375.50
Net Income (after finance): £16,497.00
NET RETURN ON INVESTMENT AFTER REFINANCE: %
BASED ON A REFINANCE VALUATION OF £250,000.00 WE CAN RELEASE APPROXIMATELY £187,500.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £8,412.50 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £16,497.50 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF %.

CHOOSE MORECAMBE: GREAT VALUE FOR MONEY: EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS

• It has close commuting and business links with Lancaster and Lancaster.
• A fantastic opportunity for quality living in a coastal town with demand from relocating professionals from across the country and locals alike.
• The area has a large shortfall of shared accommodation for contractors.
• In September 2021 BAE Systems was awarded a £85m to support early design and concept work on the Royal Navy's next generation of submarines which will help secure 100’s of jobs in Cumbria.
• Barrow is the centre of the 'national endeavour' to develop a new generation of nuclear deterrent submarines, the £40 billion Dreadnought programme.
• There are other important employers soon to arrive including The Eden Project.

Ad ID: 1502501583