Purchase at Auction
Swanage Flat 5, Sentryfields, 27 Park Road, Swanage, Dorset, BH19 2AA
VACANT - Leasehold Self Contained First Floor Flat
£80,000+
Key Features
- Reception Room, Bedroom, Kitchen, Bathroom
- New 125 Year Lease
- Sea views from the Reception Room and Kitchen
- GIA approximately 81 sq m (872 sq ft)
- Corfe Castle Rail Station is approximately 5.8 miles to the north west
- The shops and amenities of Swanage are to the north west
Accommodation and Tenancy Schedule
| Floor | Accommodation | Approx GIA | EPC | Council Tax Band | |
|---|---|---|---|---|---|
First
|
Reception Room, Bedroom, Kitchen, Bathroom
|
81 sq m
|
872 sq ft
|
C
|
A
|
Acquisition Cost
| Purchase Price | £155,000 |
| Stamp Duty | £7,750 |
| Agent's Fee (1.5%+vat ) | £3,990 |
| Legal Fee | £2,790 |
| Misc |
£1,860 |
| Finance Cost for 12 months |
£15,113 |
| Total Acquisition Cost | £186,503 |
Cash Investment Required
| Cash Deposit 35% | £54,250 |
| Associated Acquition costs | £16,390 |
| Interest if Retained | £15,113 |
| Mobilization fund | £20,000 |
| Professionals / B.R / Structural / QS / MS etc. | £7,750.00 |
| Total | £113,503 |
Profit
| Profit (Estimated) | |
| GDV | £405,000 |
| Development cost | £106,920 |
| Acquisition Cost | £186,503 |
| Total Cost | £293,423 |
| Gross profit | £111,578 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £113,503 |
| Profit Earned | £111,578 |
| Total ROI | 98.3% |
| Profit for JV Partner (50% share) | £55,789 |
GDV Appraisal
| Units Type (Flats) | Units |
|
FFF- Reception,Bedroom, Kitchen, Bathroom |
01 |
| Total Units | 01 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | Proposed Residential NSA m2 | Value | |
| 01 | First Floor |
Reception Room, Bedroom, Kitchen, Bathroom |
81 | £405,000 | |
| Total: | Sale@ £5,000/m2 | 81 | £405,000 | ||
DEVELOPMENT Loan & Budget
| Item | Description | Amount |
| Legals | 5% of Construction Cost | £4,050 |
| Professionals / Architect | 2% of Construction Cost | £1,620 |
| Construction / Refurb | Collective Build cost | £81,000 |
| Insurances | For building & Construction | £2,430 |
| Section106 / CIL | Nil | £0 |
| Inteste rolled up costs |
15% | £13,365 |
| Contingency | 5% of Construction Cost | £4,455 |
| Total | £106,920 |
Disclaimer
Valuations & Appraisals by Sleek are strictly estimates only and you should use them on that basis. The valuation Model analyses prices for equivalent properties sold or sold in the area. These properties may differ in ways that we do not or cannot consider. Valuations are subjective and based on market forces, which may change. Valuations must not be used for property sale, purchase, mortgage or related purposes. You should seek a professional valuation from a qualified surveyor before deciding whether to buy or sell a property. We shall not be liable for any losses you or anyone else suffer due to relying on the valuations. This includes not being liable for any loss of property, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss.