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77 Wellesley Avenue, Off Malone Road, Belfast, BT9 6DH

Offers Over £349,950
  • status Sale
  • style Apartment
  • Price Offers Over £349,950
  • Style Apartment
  • Heating GFCH
  • EPC Rating D66 /D68
    EPC
  • Status Sale
Jack Massie MNAEA GOC Estate Agents Office: 028 9066 2366 DDI: 02890662366
Jack Massie MNAEA

Description

A substantial Victorian house on Wellesley Avenue consisting of two self contained apartments producing c.£28,000 rental income per annum, let until 31st August 2025. Apartment one has an open-plan kitchen and lounge, two double bedrooms and a family bathroom. Apartment two is an HMO licensed four bedroom apartment containing a large open-plan kitchen and lounge, family bathroom, shower room and W.C.

Wellesley Avenue is ideally positioned between the Malone and Lisburn Roads, an incredibly popular location for investors.

Early viewing is recommended as the condition and location of this property will be widely popular.

Features

  • Superb Investment Opportunity
  • Rental Income of circa £28,000 per annum
  • Two Self Contained Apartments
  • Gas Central Heating
  • Fully Equipped KItchen & Bathrooms
  • HMO Licensed and CLUD
  • Let until 31st August 2025
  • Double Glazing uPVC Windows
  • Secure Yard to rear with fire escape
  • Prime Rental Location Close to Queens University and Hospitals

Room Details

  • ENTRANCE HALL:

    Ceiling corbels, tiled flooring.
  • FLAT 1 OPEN PLAN KITCHEN LOUNGE 15' 3" X 11' 5" (4.65m X 3.48m)

    Tiled flooring, bay window, high and low level units, laminate work surfaces, halogen hob and oven, extractor fan, plumbed for washing machine.
  • FLAT 1 BATHROOM:

    Laminate flooring, wash hand basin, Briston electric shower with sliding doors, low flush W/C, good natural lighting and extractor fan.
  • FLAT 1 BEDROOM (1): 12' 7" X 7' 8" (3.84m X 2.34m)

    Good natural lighting.
  • FLAT 1 BEDROOM (2): 13' 1" X 9' 0" (3.99m X 2.74m)

    Good natural lighting.
  • FLAT 2 BEDROOM (1): 9' 11" X 8' 11" (3.02m X 2.72m)

    Good natural lighting.
  • FLAT 2 OPEN PLAN KITCHEN LOUNGE 24' 1" X 15' 5" (7.34m X 4.70m)

    Kitchen and lounge open plan living. High and low level units, laminate flooring and worksurfaces, stainless steel sink with drainer, washing machine and oven with ceramic hob.
  • FLAT 2 W/C

    Wash hand basin and low flush W/C with laminate flooring.
  • FLAT 2 W/C

    Wash hand basin, laminate flooring and low flush W/C.
  • FLAT 2 SHOWER ROOM:

    Laminate flooring, shower with sliding doors, extractor fan.
  • FLAT 2 BEDROOM (2): 12' 0" X 6' 0" (3.66m X 1.83m)

  • FLAT 2 BEDROOM (3): 9' 0" X 9' 0" (2.74m X 2.74m)

  • FLAT 2 BEDROOM (4): 11' 0" X 8' 0" (3.35m X 2.44m)

Location

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Directions

Turning off the Malone Road onto Wellesley Avenue and the house is half way down on your right hand side.

Mortgage Calculator

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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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