Tenure : Leasehold approx 199 years. Freeholder is un contactable so an indemnity insurance policy will be provided.
Price : £65,000
Incentives : £5,000 cashback
Rental Income : £350pcm
Yield : 7% of the net figure (£60,000)
Funds Required : £4,114.38-£7,364.38 A rare opportunity to acquire a highly yielding (7%) property with a minimal cash outlay. Ideally situated just one mile from the town centre and Bolton University. Tenant demand is high for one to two bed roomed apartments in this location. In order to ensure an easy let we have negotiated for both apartments to come fully furnished. There is also scope for converting both apartments into two bedrooms. With the cash back these properties can be acquired from just £4,114.38 each. The majority of the rooms have been recently decorated offering a very rentable property which should not suffer any void periods. The ground floor flat has he unique feature of a spiral staircase leading to the full height cellar. This could be renovated and converted into a habitable bedroom. There is a small front garden and a separate yard to the rear. Close to all local amenities, with a bus stop close by and within 5 minutes walk to the town centre and shopping centre this is an ideal property for the first time buyer who wants some help towards the rent, or a second property to rent out fully. Funding Purchase Price £ 65,000
15% Deposit £ 9,750.00
Legal Fees £ 700.00
Finance Costs £ 414.38
Finders Fees £ 1,500.00
Total £12,364.38
Cash Back £ 5,000.00
Net Cost To Client £ 7,364.38
Purchase Price £65,000.00
10% Deposit £ 6,500.00
Legal Fees £ 700.00
Finance Costs £ 414.38
Finders Fees £ 1,500.00
Total £ 9,114.38
Cash Back £ 5,000.00
Net Cost to Client £ 4,114.38 Comparables - £65,000 http://www.rightmove.co.uk/viewdetails-13035461.rsp?pa_n=3&tr_t=buy http://www.rightmove.co.uk/viewdetails-13035722.rsp?pa_n=3&tr_t=buy Both are one bed units converted from a terraced property. Therefore these represent very close comparables. We believe that our properties are far more unique and better presented. European Funding Partnership Bolton European Funding Partnership was set up in 2001 to ensure that the European Structural Funds were used to pay a pivotal role in the economic and social regeneration of the Borough. The Partnership's principal responsibilities are to: - Manage Bolton's Objective 2 European Action Plans (Programmes worth over £21m over the 2000-2008 period)
"These are exciting times for Bolton and we are taking full advantage of the opportunities. Situated in the heart of the North West with a population of 265,000, it is one of the largest towns in England. We are on the cusp of an economic renaissance which will see Bolton start to reclaim its rightful position as one of the Manchester city region's economic leaders. Bolton is already the North West's fifth largest employment centre, an important regional destination and the home of the UK's fastest growing university. " Please see: http://www.bolton.gov.uk The local borough council has devoted millions to the management of Bolton's regeneration and a list of initiatives along with the management coordinators for each initiative can be found here http://www.eastboltonregeneration.co.uk/ Please download the PDF for full information, or contact one of our property consultants on 0871 231 7466 or click onto the "Make Enquiry" button. Important Notice All financial and property investments bear varying degrees of risk. We strongly discourage you from making any investment decision based upon the information that you cannot independently confirm and we thoroughly recommend that you seek qualified advice from a financial advisor or solicitor before you make any decision regarding making this financial investment. In accordance with the property Misdescriptions Act (1991) we have prepared these sales particulars as a general guide to give a broad description of the property. They are not intended to constitute part of an offer or contract. We have not carried out a structural survey and the services, appliances and specific fittings have not been tested. All photographs, measurements, floor plans and distances referred to are given as a guide only and should not be relied upon for purchase of carpets of other fittings. Lease details, service charges and ground rent (where applicable) are given as a guide only and should be checked and confirmed by your solicitor prior to exchange
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With the aid of Bueno we have secured 14 properties in the past 9 months!
