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Apt 1 & 2 12 Lawrence Street, Belfast , BT7 1LF

Offers Over £269,950
  • status Sale
  • bedrooms 6 Bedrooms
  • receptions 2 Receptions
  • style Terrace
  • Price Offers Over £269,950
  • Style Terrace
  • Bedrooms 6
  • Receptions 2
  • Heating GFCH
  • EPC Rating D66 /C69
    EPC
  • Status Sale
Tim Luft GOC Estate Agents Office: 028 9066 2366 DDI: 02890662366
Tim Luft

Description

A prime opportunity to purchase this spacious Mid Terrace investment property, which has been converted into two apartments. Full HMO licence and full planning for use. Overall this property provides ample accommodation making it an ideal investment opportunity with good annual yields.

Apartment (1): Comprises of an open plan kitchen, dining and living area, 2 bedrooms and a shower room. Achieivng £600 PCM. Apartment (2): Comprises of kitchen, separate living room, shower room and1 bedroom on the first floor. The second floor consists of the remaining 3 bedrooms and another shower room. Achieving £1,200 PCM.

Situated close to QUB, Botanic or easy access to Belfast City Centre. Typically, students will rent in this area, due to proximity to Stranmillis College or QUB. Viewing recommended.

Features

  • A Mid Terrace Property Converted into 2 Apartments Located in the University Area.
  • Located in the University Area and Currently Let until 2023
  • Apartment (1): 2 Bed: £650PCM
  • Apartment (2): 4 Bed: £1,200 PCM
  • HMO License and Planning Permission
  • Gas Fired Central Heating
  • Double Glazed Windows Throughout
  • Popular Location Close to Queens University and City Centre with Excellent Accommodation

Room Details

  • COMMUNAL ENTRANCE HALL:

    Tiled floor. Stairs to apartment 2 and direct ground floor access to apartment 1.
  • APT 1:

  • HALLWAY:

    Intercom. Fire escape door with access to rear enclosed courtyard with steps to apt 2.
  • OPEN PLAN KITCHEN DINING & LIVING AREA: 12' 0" X 12' 11" (3.66m X 3.94m)

    Measurements taken to maximum points. Double panelled radiator. Full range of shaker style wall and base units. Single drainer stainless steel sink unit and drainer with mixer tap. Plumbed for washing machine. Concealed wall mounted gas boiler. Part tiled walls. Tiled floor.
  • BEDROOM (1): 11' 2" X 8' 10" (3.40m X 2.69m)

    Carpeted.
  • SHOWER ROOM:

    Shower enclosure with PVC panelled walls. Electric shower with telephone shower head. Pedestal wash hand basin. Dual flush WC. Towel rail. Tiled floor.
  • BEDROOM (2): 8' 10" X 8' 4" (2.69m X 2.54m)

    Carpeted.
  • STORAGE CUPBOARD:

  • APT 2

    Stairs leading from communal entrance hall.
  • LANDING:

    Access to fire escape. Rear enclosed yard.
  • LIVING ROOM: 16' 4" X 11' 9" (4.98m X 3.58m)

    Double panelled radiator.
  • KITCHEN: 10' 8" X 10' 3" (3.25m X 3.12m)

    Measurement taken to longest and widest points. Full range of shaker style wall and base units. Single drainer, stainless steel sink unit and drainer with mixer tap. Plumbed for washing machine. Concealed wall mounted gas boiler. Part tiled walls. Tiled floor.
  • SHOWER ROOM:

    Shower enclosure with PVC panelled walls and electric shower. Pedestal wash hand basin dual flush WC. Panelled radiator.
  • BEDROOM (1): 9' 0" X 8' 7" (2.74m X 2.62m)

  • BEDROOM (2): 15' 6" X 6' 5" (4.72m X 1.96m)

    Measurement taken to maximum points.
  • BEDROOM (3): 12' 0" X 8' 8" (3.66m X 2.64m)

    Measurements taken to maximum points.
  • SHOWER ROOM:

    Shower enclosure. PVC panelled walls. Electric shower. Pedestal wash hand basin. Dual flush WC, Tiled floor. Panelled radiator. Extractor fan.
  • BEDROOM (4): 12' 2" X 10' 4" (3.71m X 3.15m)

    PVC double glazed door to fire escape. Panelled radiator.

Location

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Directions

University area

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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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