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59 Fitzwilliam Street, Belfast, BT9 6AX

Offers Over £400,000
  • status Agreed
  • style Apartment
  • Price Offers Over £400,000
  • Style Apartment
  • Heating GFCH
  • EPC Rating E53 /C72 - Download
    EPC
  • Status Agreed
Gerry O'Connor GOC Estate Agents Office: 028 9066 2366
Gerry O'Connor

Description

This is a rare opportunity for the Investor / Developer to acquire a Prime piece of Income producing real estate with the added bonus of further development and income growth Potential. Such is the demand for this location that there is a full 12 month Letting period as opposed to eleven with most tenants taking longer leases. The HMO Licence Requirements on the 4 bed apartments are current so an application now which by Law is required by the new Owner will be easy and a formality.

Features

  • Comprises of Two 4 Bedroom Apartments and One 2 Bedroom Apartment
  • Four Bedroom Apartments Have Current (Receipt) H.M.O Licence With Planning Permission
  • Planning Permission Granted For Addition Of 3 One Bedroom Apartments And Extension Of 2nd Floor Apartment To A Four Bedroom Apartment (Optional)
  • Strategic Location Immediately Adjacent To New Q.U.B Students Union Complex
  • Fitzwilliam Runs From Malone Road To Lisburn Road With Q.U.B Taking Up The Southern Part of The Street
  • Currently In Two Four Bedroom Apartments And One Two Bedroom Apartment Producing Approximately £30,000 Per Annum
  • Gas Fired Central Heating Throughout
  • Double Glazed Windows Throughout

Room Details

  • ENTRANCE HALL:

    Glass Entrance Foyer with Intercom System
  • APARTMENT 1:

    4 Bedrooms, large lounge/open plan kitchen, shower room with wc, wash hand basin, separate room with wc and wash hand basin
  • APARTMENT 2:

    4 Bedrooms, large lounge/open plan kitchen, shower room with wc, wash hand basin, separate room with wc and wash hand basin
  • APARTMENT 3:

    2 Bedrooms, Shower room, Lounge and Kitchen

Location

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Directions

Fitzwilliam Street is Located immediately adjacent QUB Students Union and other principal University departments and runs from the Malone to Lisburn Road.

Mortgage Calculator

  • Property Value
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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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59 Fitzwilliam Street, Belfast 59 Fitzwilliam Street, Belfast
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