Stockport Added 2020-09-26
Franklin Street, Lancaster, LA1 4TA**THIS IS THE NUMBER ONE STUDENT AREA IN LANCASTER, ALL OUR PROPERTIES HAVE 100% OCCUPANCY **FULLY REFURBISHED PROPERTY4 LARGE BEDROOMSLARGE COMMUNAL KITCHEN AND DINING AREA4 EN-SUITE BATHROOMS1 GUEST BATHROOMProven return on cash invested is initially 15% and ULTIMATELY IN EXCESS OF 35% per annum on all properties in this area.EXCELLENT REVALUATION LEVELS ON COMPLETED PROJECTS**ALL THE FOLLOWING CALCULATIONS ARE BASED ON ACTUAL RENTAL FIGURES AND PROJECT COSTS**Purchase Price: £158,500.00Deposit: £31,700.00 (Mortgage 80% LTV – this is subject to status and criteria)Conversion/Build: £47,500 approx. (4 bedrooms / 5 bathrooms)Set up costs/ Design & Build Fees including VAT - £15,000Legals - £1,300Stamp duty - £4,755Survey - £450Furniture and flooring packs can be purchased at an additional cost - £7,261.00TOTAL PROJECT COSTS: £234,766.00TOTAL CASH OUTLAY: £107,966.00RENTAL INCOME: 2 rooms at £100.00PPPW (Ensuite) and 2 rooms at £140.00PPPW x net of bills (water, gas, electricity) = £24,960.00Management: £3,244.80 per annum includes VAT (Fully managed 10%)Annual mortgage cost/interest: £5,566.52 (4.39% - subject to status and criteria)TRUE NET INCOME: £16,148.68NET RETURN ON CASH INVESTMENT: 14.95% per annum