- 526 sqft approx
- 49sqm approx
- 123 Year Lease
- 12% Return on capital
- 6% Gross Yield
- Tenant in situ - 10 months remaining on lease
- £700pcm rental income achieved
*** An opportunity to acquire one of Peterborough's most contemporary apartments in the UK's most commutable city right in the heart of the city centre*** BTL - 1 Bed, CITY CENTRE -12.91% pre tax income on £39.5K capital employed (based on 25% deposit, 2.49% int only loan and self managed. Block management fees included in estimate) - Gross Yield 6.22%
Geneva House - Geneva House, is a superb collection of contemporary city centre apartments, adjacent to Beales Departments Store and Queensgate shopping Centre. It is just 500 metres to Peterborough Station, giving access for commuters to Central London (Kings Cross) in just 45 minutes. Each apartment has been carefully thought out by the design team to maximise the effective use of light, space and functionality. The high quality fittings and attention to detail are evident throughout. All apartments exude luxury with bespoke high end German kitchens by Nieburg, SMEG appliances and bathrooms, are superbly appointed with Salgar vanity units and designer porcelain tiles.
Communal Area - The exterior of the building has had every window replaced with high end Aluminium windows that with their narrow frames maximise the natural light.
The communal areas have been designed to create an impressive entrance to owners and their guests. There is new modern lift and and a feature staircase to all floors. The secure parking area is accessed via electronic wrought iron gates with a fob entry system for owners. There is secure covered bike storage for owners.
Ready To Move In! - Everything has been thought of to ensure owners can enjoy their apartment from day one. From the wireless entry phone system allows remote access via your phone, to the internal wiring that means owners have all the infrastructure in place for phone, internet, cable or satellite tv. The developers wanted to create the genuine finished article for owners so there are bespoke built in wardrobes, all made to measure to every bedroom and items that are often extras like carpets are included as standard.
This is an exceptional one bedroom apartment situated on the 2nd floor of the building with views overlooking Park Road Baptist Church. It measures in excess of 520sqft and boasts a large open plan living and kitchen area, double bedroom with built in wardrobe and beautifully appointed bathroom. The apartment is located on the second floor accessed via the stairwell or lift.
Entrance Hall - Entrance into the apartment is greeted with grey oak flooring and oak doors leading to open plan kitchen/living area, Double bedroom, family bathroom and storage cupboard.
Open Plan Living Kitchen Area - The open plan living area has thoughtfully been designed to allow for a kitchen area fitted with a matching range of base and eye level units built in kitchen appliances which include a SMEG oven and induction hob and slimline dishwasher.
The lounge area benefits from two windows to the side over looking Park Road Baptist church.
Bedroom - The double bedroom has a bespoke fitted wardrobe, fitted carpet and a window to side
Family Bathroom - The bathroom has vanity units complemented by Milan Basin and Bath Taps and Showers. Stylish Saneux I line WCs is fitted and the sleek porcelain and mosaic tiles complete a modern and impressive suite
Leasehold Details - The property has a brand new lease of 123 years.
The ground rent is £200 per annum
The service charge is £625 per annum
Investor Information - Based on a sale at £135k and an actual rental income of £700 pcm (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 at 2.49% (interest only)
- Capital used £39,350 (including deposit, stamp duty and conveyance)
- Annual pre tax profit of £5,079 = 12.91% pre tax income on capital used (these assumptions include service and ground rent fees and on a self managed serviced)
Belvoir Disclaimer - 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. All measurements quoted are approximate. These Particulars do not constitute a contract or part of a contract
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