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75 University Avenue, Off Ormeau Road, Belfast, BT7 1GX

Offers Over £239,950
  • status Agreed
  • bedrooms 8 Bedrooms
  • receptions 1 Reception
  • style Terrace
  • Price Offers Over £239,950
  • Style Terrace
  • Bedrooms 8
  • Receptions 1
  • Heating OFCH
  • EPC Rating D55 /D63
    EPC
  • Status Agreed
Tim Luft GOC Estate Agents Office: 028 9066 2366 DDI: 02890662366
Tim Luft

Description

This period red brick bay-fronted property that has been extensively extended and now offers excellent  eight bedroom investment property in an area of the highest demand close to the main University Campus.

 

 

Queens University , Botanic Avenue and Belfast City Centre are a short walk away and Botanic Train Station is approx. a five minute walk.

 Although the property requires modernisation and upgrading throughout, the potential is huge for a property of such charm and character.

 

Investment property of this type rarely comes to the market and we highly reccommend internal inspection.

 

Features

  • Victorian Terrace Property With Great Charm And Character
  • 8 Bedrooms
  • Full HMO License and Planning Permission
  • Spacious Living Room And Kitchen With Futher Potential To Rear
  • Each Room Currently Let At £300+ /Month
  • Oil Fired Central Heating
  • PVC Double Glazed Windows
  • Excellent Investment
  • Great Location Adjacent To QUB, City Hospital And Easy Reach Of City Centre

Room Details

  • ENTRANCE PORCH/ENTRANCE HALL:

  • BEDROOM (1): 15' 1" X 11' 10" (4.60m X 3.61m)

    Original fire surround. White and black laminate flooring.
  • LOUNGE: 23' 2" X 12' 0" (7.06m X 3.66m)

    Part tiled floor. Under stairs storage.
  • KITCHEN: 18' 4" X 8' 7" (5.59m X 2.62m)

    Range of wall and base units and granite effect worktop surfaces.
  • REAR HALLWAY:

    Separate WC with WHB.
  • SEPARATE W/C:

    With WHB and extractor fan.
  • BEDROOM (2): 9' 3" X 8' 8" (2.82m X 2.64m)

    WHB.
  • SHOWER ROOM:

    Comprising; PVC panelled shower cubicle with electric shower, dual flush WC and PWHB, extractor fan.
  • BEDROOM (3): 11' 8" X 10' 3" (3.56m X 3.12m)

    Wash hand basin.
  • BEDROOM (4): 11' 10" X 11' 8" (3.61m X 3.56m)

    Wash hand basin.
  • BEDROOM (5): 8' 9" X 8' 2" (2.67m X 2.49m)

    Wash hand basin.
  • LANDING:

  • SEPARATE W/C:

    W/C and wash hand basin. Extractor fan. Seperate hotpress with lagged coppper cylinder.
  • BEDROOM (6): 9' 1" X 8' 7" (2.77m X 2.62m)

    Wash hand basin.
  • SHOWER ROOM:

    Comprising; PVC panelled shower cubicle with with electric shower, low flush W/C and pedestal wash hand basin.
  • BEDROOM (7): 12' 0" X 10' 3" (3.66m X 3.12m)

    Wash hand basin.
  • BEDROOM (8): 17' 0" X 12' 3" (5.18m X 3.73m)

    Kitchenette. Stainless steel sink unit and drainer.
  • Forecourt front garden area. Enclosed rear yard.

Location

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Directions

University Area.

Mortgage Calculator

  • Property Value
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  • Repayment/month
 

Disclaimer: The following calculations act as a guide only, and are based on a typical repayment mortgage model. Financial decisions should not be made based on these calculations and accuracy is not guaranteed. Always seek professional advice before making any financial decisions.

Advice on Stamp Duty

Advice on Stamp Duty

Stamp Duty Land Tax is a percentage paid on the purchase of a home or non-residential property to the Inland Revenue.  You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price above £125,000 when you buy residential property, eg a house or flat.

There are different rules if you’re buying your first home and the purchase price is £500,000 or less.

Use the SDLT calculator to work out how much tax you’ll pay.


Rates if you’re buying your first home

You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.

You’re eligible if:

·you, and anyone else you’re buying with, are first-time buyers

·you complete your purchase on or after 22 November 2017

If the price is over £500,000, you follow the rules for people who’ve bought a home before.


Rates if you’ve bought a home before

Freehold sales and transfers

You can also use this table to work out the SDLT for the purchase price of a lease (the ‘lease premium’).


Property or lease premium or transfer value                                              SDLT rate

Up to £125,000                                                                                                Zero
The next £125,000 (the portion from £125,001 to £250,000)                       2%
The next £675,000 (the portion from £250,001 to £925,000)                       5%
The next £575,000 (the portion from £925,001 to £1.5 million)                    10%
The remaining amount (the portion above £1.5 million)                              12%

Example

If you buy a house for £275,000, the SDLT you owe is calculated as follows:

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the final £25,000 = £1,250
  • Total SDLT = £3,750

New leasehold sales and transfers

When you buy a new residential leasehold property you pay SDLT on the purchase price of the lease (the ‘lease premium’) using the rates above.
If the total rent over the life the lease (known as the ‘net present value’) is more than £125,000, you also pay SDLT of 1% on the portion over £125,000 - unless you buy an existing (‘assigned’) lease.

You can work out how much SDLT you’ll pay for your new residential lease using HMRC’s:

Higher rates for additional properties

You’ll usually have to pay 3% on top of the normal SDLT rates if buying a new residential property means you’ll own more than one.

Use the SDLT calculator to work out how much tax you’ll pay.  You may not have to pay the higher rates if you exchanged contracts before 26
November 2015. 


If you’re replacing your main residence

You won’t pay the extra 3% SDLT if the property you’re buying is replacing your main residence and that has already been sold.  If there’s a delay selling your main residence and it hasn’t been sold on the day you complete your new purchase:

  • you’ll have to pay higher rates because you own 2 properties
  • you may be able to get a refund if you sell your previous main home within 36 months
  • There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.
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