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Franklin Street, Lancaster, LA1 4TA **THIS IS THE NUMBER ONE STUDENT AREA IN LANCASTER, ALL OUR PROPERTIES HAVE 100% OCCUPANCY ** FULLY REFURBISHED PROPERTY 4 LARGE BEDROOMS LARGE COMMUNAL KITCHEN AND DINING AREA 4 EN-SUITE BATHROOMS 1 GUEST BATHROOM Proven return on cash invested is initially 15% and ULTIMATELY IN EXCESS OF 35% per annum on all properties in this area. EXCELLENT REVALUATION LEVELS ON COMPLETED PROJECTS **ALL THE FOLLOWING CALCULATIONS ARE BASED ON ACTUAL RENTAL FIGURES AND PROJECT COSTS** Purchase Price: £158,500.00 Deposit: £31,700.00 (Mortgage 80% LTV – this is subject to status and criteria) Conversion/Build: £47,500 approx. (4 bedrooms / 5 bathrooms) Set up costs/ Design & Build Fees including VAT - £15,000 Legals - £1,300 Stamp duty - £4,755 Survey - £450 Furniture and flooring packs can be purchased at an additional cost - £7,261.00 TOTAL PROJECT COSTS: £234,766.00 TOTAL CASH OUTLAY: £107,966.00 RENTAL INCOME: 2 rooms at £100.00PPPW (Ensuite) and 2 rooms at £140.00PPPW x net of bills (water, gas, electricity) = £24,960.00 Management: £3,244.80 per annum includes VAT (Fully managed 10%) Annual mortgage cost/interest: £5,566.52 (4.39% - subject to status and criteria) TRUE NET INCOME: £16,148.68 NET RETURN ON CASH INVESTMENT: 14.95% per annum Based on a refinance valuation of £265,000 we can release up to £212,000.00 (80% LTV) by re-mortgaging after completion of the project. At this stage, you will have only around £22,766.00 left in the deal and after deducting the new increased mortgage interest, your net income will be approximately £12,196.40 annum giving you a net return on CASH INVESTED OF MORE THAN 50% PER ANNUM!! Based on the full commercial value after 12-18 months, the property would value at £350,000.00, we would then advise a second re-mortgage of up £280,000.00. This completely reimburses the original cost of the project & gives you an extra lump sum of over £45,000.00. Also after deducting the mortgage payments at the higher figure the rent per annum would be £9,143.00 all deductions would and represent 100% PURE PROFIT EACH YEAR, as all your initial investment would be repaid in full plus the LUMP SUM £45k TAX FREE BONUS.