Harlestone Close, Luton, LU3

ASKING PRICE £140,000..... GDV £350,000, GROSS PROFIT £100,000, GROSS PROFIT MARGIN 28.6%, GROSS MONTHLY RENT £1,500, GROSS ANNUAL RENT £18,000, GROSS RENTAL YIELD 7.2%..... CONSTRUCT NEW BUILD DWELLING PROJECT..... CREATE 1 x 2 BEDROOM DETACHED BUNGALOW (GIA 50m2)..... SOLID FINANCIALS WITH LOW RISK

Key [Anticipated] Financial Figures

£350,000 GDV
Gross Profit £100,000
Gross Profit Margin 28.6%
Gross Monthly Rent £1,500
Gross Annual Rent £18,000
Gross Rental Yield 7.2%
Strong both Sales and Lettings Return on Investment

Other Important Financial Information

No CIL Fee
No Restrictive Covenant Fee
No Section 106 Fee
Section 184 Fee Agreed
Minor Demolition Pre-Works
Build Over Agreement In Place
Covenant / Planning Insurance In Place ('On Risk')

Proposed Internal Details

GIA 50m2
Side Entrance / 'Front' Door
Generous & Light Entrance Hall
Spacious Open Plan Lounge-Diner and Kitchen, with Bi-Fold / Concertina Doors to Rear Garden
2 Equal Sized Double Bedrooms, with Storage Space
3 Piece Bathroom
Built-In Storage

Proposed External Details

Large Private Enclosed Rear Garden 93m2
Side & Rear Access
Paved Side Footpath from Front to Rear
Patio Area
Turfed Lawn
Waste & Recycling Bin Storage Area
2 Side-By-Side Parking Spaces to Front

Location

LU3, Luton - Barton Hills Area
Nicely Positioned at the Head Of The Street
Quiet Cul-De-Sac
Highly Desirable Area / Much Sought After Location
Established Community
Lovely Neighbours
Good Transport Links

Local Amenities

Sainsbury's Supermarket
Petrol Station
Doctors Surgery
Pharmacy
Pub-Restaurant, Fish & Chip Shop, 7am-10pm Convenience Store 'Around the Corner'
Bramingham Park
Bus Stops: Hourly To / From Luton Town Centre and Leagrave Train Station / The L&D Hospital

Envisaged Exit Strategy

Rare Availability
Anticipated Quick Re-Sale / Easy Re-Finance and Let
Of Particular Appeal to Retirees, Down-Sizers, Single Occupants, Pet Owners, Disabled Access Required
Neighbours interested in Purchasing / Renting
Possibility to class as a Self-Build deemed as Principal Private Residence (PPR)
Capital Gains Tax (CGT) Zero Rated (0%) upon Re-Sale if classed as Principal Private Residence (PPR)
Plentiful Sales / Lettings Comparables, Proving the Anticipated GDV, Available Upon Request

General Summary

Pleasant Scheme, Well Designed
Convenient Internal Layout
Thoughtful External Layout
Straightforward & Uncomplicated Build
No Hidden Fees or Charges
Simple and Achievable Exit Strategy Options
Worthwhile Investment Financially: Solid Financials with Low Risk

Agent's Notes

1.
All information in this listing relating to this property contained has been supplied to us by the Vendors;

2.
The Vendors - an Architect and an expert in obtaining Planning Gain - are Open, Honest and Helpful;

3.
Standard Sale / Purchase only, the Vendors will not entertain any Joint Venture / Lease Option offers;

Further Information/Contact

Please call Alan Hilditch, Director, at Satchells (Baldock Office) to discuss or request further information.