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Coventry, CV1 2EL

2 The Quadrant
Spencer Avenue, Earlsdon
SalesSpencer Avenue, Earlsdon
 Spencer Avenue, Earlsdon, CV5 6NP
£110,000
  • 1 Bedrooms
  • 1 Bathrooms

Property description

**IDEAL INVESTMENT**CASH BUYERS PREFERRED** A self-contained studio with a private entrance in Earlsdon located close to spencer park, Coventry City Centre, Coventry train station and Earlsdon high street. Comprising of sleeping/living area, kitchenette with oven, electric hob, ensuite with electric shower. Rental income £550pcm/ £6600pa. NO ONWARDS CHAIN. EPC E

Council tax band A - £1339

Leasehold – 

A 99 Year lease was granted 06 10 2003 and the latest estimated figure to extend the lease was in the region of £3,500 to £5,000. 

Ground Rent is currently £40 per year  ( 01 01 2003 to 31 12 2036) 

As per the terms of the lease the Service Charge contribution is split into 2 areas 

"The Internal Common parts" being Communal Electric & Insurance with Flat 3 contribution 12.5%

" The Common Parts" namely Insurance, Management Fees, Shared Drains, pipes, wires & roof - Contribution - 11.1% 

To give an idea of actual figures - Insurance contribution,  £89 a year, Electric, £42.60 pa. We will be looking at a Management fee of £100 per year for each flat. With the figures being relatively low a yearly invoice seems to be the way forward. 

Any larger requirements such as re carpeting the stairs etc will require the cost to be agreed with the Leaseholders and the respective % charged accordingly. 


Note: The property is rented for 12 months from 08.09.22 at £550pcm. 

Please see our virtual 360 viewing before booking a viewing.

Tenure  : Leasehold

Property Information

  • Available from 05 Feb 2022
  • Reference number suttons_949884175
  • Property Type Studio
  • Furnishing Furnished
  • Tenure Leasehold
  • Current Occupant External Tenant
  • Market infoMarket info

Location

Spencer Avenue, Earlsdon, CV5 6NP

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Purchase Price

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Effective Rate
00.00 %
Tax Band % Taxable Sum Tax
less than £500k 0
£500k to £925k 5
£925k to £1.5m 10
rest over £1.5m 12

Additional Property

Stamp duty charges for completion date before 31st march 2021

Purchase Price

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Effective Rate
00.00 %
Tax Band % Taxable Sum Tax
less than £500k 3
£500k to £925k 8
£925k to £1.5m 13
rest over £1.5m 15

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Purchase Price

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Effective Rate
00.00 %
Tax Band % Taxable Sum Tax
less than £300k 0(2/5)*
£300k to £500k 5
£500k to £925k 5
£925k to £1.5m 10
rest over £1.5m 12
*For purchases over £500k, SDLT is charged at 2% from £125k to £250k and 5% from £250k to £925k.

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Suttons Estate Agents

The team at Sutton's boasts more than 40 years of combined experience spanning three decades, our knowledge of Coventry and the surrounding villages..

info@suttonsestates.com 02476525111

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2 The Quadrant, Coventry, CV1 2EL

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