5 Bed Detached House, Cash/Bridging Only, Herne Bay, CT6 8SJ, £450,000

Albany Drive, Herne Bay, CT6 8SJ - 7 views - a year ago

Leasehold
Cash
~254 m²
+13 photos

ValuationFair Value

Sold Prices£140K - £762.5K
Sold Prices/m²£2.2K/m² - £5.3K/m²

 

 

Square Metres

~254.18 m²
Price/m²£1.8K/m²

Value Estimate

£454,500

 

 

End Value (After Refurb)

£942,203

Uplift in Value

+109%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£112,500

Stamp Duty & Legal Fees

£24,700

Refurb Costs

£121,134

Bridging Loan Interest

£11,813

Total Cash In

£271,897

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£942,203

Agent Fees (1%)

£9,422

Bridging Loan

£337,500

Bridging Loan Interest

£11,813

Flip Profit

£323,384

Local Sold Prices

29 sold prices from £140K to £762.5K, average is £525K. £2.2K/m² to £5.3K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£400K04/230.1 mi20, Central Avenue, Herne Bay, Kent CT6 8RX5
£503K09/220.11 mi9, York Road, Herne Bay, Kent CT6 8SN5
£140K04/210.13 mi17, Clarence Road, Herne Bay, Kent CT6 8TH5
£670K12/210.14 mi3, Bournemouth Drive, Herne Bay, Kent CT6 8HH5
£730K01/210.27 miMontague House, Oxenden Street, Herne Bay, Kent CT6 8TD5
£450K03/210.36 mi17, Station Road, Herne Bay, Kent CT6 5QJ5
£495K03/210.44 mi27, Kingfisher Court, Herne Bay, Kent CT6 7PL5
£675K08/210.51 mi108, Pochard Crescent, Herne Bay, Kent CT6 5SZ5
£300K05/210.51 mi40, Clifftown Gardens, Herne Bay, Kent CT6 8DE5
£370K02/210.51 mi60, Clifftown Gardens, Herne Bay, Kent CT6 8DE5
£447K04/230.73 mi7, Queens Gardens, Herne Bay, Kent CT6 5BS5
£365K11/200.78 mi18, Charles Street, Herne Bay, Kent CT6 5JF5
£280K05/210.79 mi46, South Road, Herne Bay, Kent CT6 5AT5
£580K05/230.83 mi81, Spenser Road, Herne Bay, Kent CT6 6AP5
£525K11/200.87 mi128, Canterbury Road, Herne Bay, Kent CT6 5RX5
£625K03/210.95 mi9, Canterbury Road, Herne Bay, Kent CT6 5HJ5
£762.5K04/230.95 mi13, Canterbury Road, Herne Bay, Kent CT6 5HJ5
£575K12/201.31 mi95, Mickleburgh Hill, Herne Bay, Kent CT6 6JY5
£490K12/211.34 mi34, Mill View Road, Herne Bay, Kent CT6 7JF5
£430K12/201.35 mi6, Mount View Road, Herne Bay, Kent CT6 7DJ5
£470K06/231.37 mi105, Mickleburgh Hill, Herne Bay, Kent CT6 6JZ5
£550K03/211.41 miBeacon View, 5a, Alma Road, Herne Bay, Kent CT6 6JJ5
£660K06/231.41 mi15, Salisbury Road, Herne Bay, Kent CT6 6JH5
£732.5K11/221.52 mi11, Herne Street, Herne Bay, Kent CT6 7HH5
£570K03/211.54 mi76, School Lane, Herne Bay, Kent CT6 7AR5
£640K12/221.74 mi39, Gorse Lane, Herne Bay, Kent CT6 7BE5
£695K11/211.78 mi70, Margate Road, Herne Bay, Kent CT6 7BH5
£500K05/211.95 mi5, Merrywood Grove, Herne Bay, Kent CT6 7BQ5
£610K12/221.96 mi17, Busheyfields Road, Herne Bay, Kent CT6 7LJ5

Local Rents

16 rents from £1.3K/mo to £3K/mo, average is £1.6K/mo.

RentDateDistanceAddressBeds 
£1,40012/240.06 miCornminster Court, Herne Bay, CT63
£1,50012/240.17 miThe Broadway Herne Bay CT63
£1,25012/240.23 mi-3
£1,25007/240.23 mi-3
£1,60012/240.25 miOxenden Park Drive, Herne Bay, CT63
£1,30012/240.25 mi-3
£1,30008/230.25 mi-3
£3,00012/240.26 mi-3
£1,35012/240.27 miLinden Avenue, Herne Bay, CT63
£3,00012/240.28 mi-3
£3,00012/240.41 mi-3
£2,80011/240.41 mi-3
£3,00010/240.41 mi-3
£1,70008/230.52 mi-4
£1,49512/240.53 miCherry Gardens, Herne Bay3
£1,70012/240.54 miCherry Gardens, Herne Bay3

Local Area Statistics

Population in ct6

38,589

Population in Herne Bay

38,592

Town centre distance

0.94 miles away

Nearest school

0.40 miles away

Nearest train station

0.36 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+2%

Sales demand

Balanced market

Capital growth (5yrs)

+21%

Property History

Price changed to £450,000

November 8, 2024

Price changed to £475,000

October 23, 2024

Listed for £500,000

May 21, 2024

Floor Plans

Description

  • Large Detached Family Home +
  • Five Double Bedrooms +
  • Two Ensuites +
  • Modern Throughout +
  • Large Kitchen/Breakfast Room +
  • Separate Dining Room +
  • Great Central Location +
  • Close To The Seafront +
  • Good Size Rear Garden +
  • EPC Rating: 70 C +

Description
Nestled in the vibrant heart of Herne Bay, this five double bedroom, two ensuite detached house on Albany Drive offers the perfect blend of modern living and convenience. The property is ideally situated in a central location, providing easy access to a variety of local amenities, including shops, the picturesque seafront, reliable bus routes, the train station, and Herne Bay Memorial Park. As you step into this beautifully presented home, you are greeted by a spacious entrance hallway that sets the tone for the rest of the house. The ground floor features a generously sized lounge at the rear, where double doors open onto a large garden, creating an inviting space for relaxation and entertaining. At the front of the house, the kitchen/breakfast room is thoughtfully designed to cater to modern culinary needs, while the separate dining room, also located at the front, offers a formal space for meals and gatherings. The ground floor is completed by a convenient downstairs WC and a practical under stairs storage cupboard. Ascending to the first floor, you will find three well-proportioned double bedrooms, one of which boasts an ensuite shower room, providing a touch of luxury and privacy. A four-piece family bathroom serves the other two bedrooms on this floor, ensuring ample facilities for family and guests. The second floor is home to two additional double bedrooms, including the master suite, which features an ensuite shower room, offering a tranquil retreat at the end of the day. The exterior of the property is equally impressive, with a large garden at the rear that includes a spacious raised decking area, perfect for outdoor dining and entertaining. Side access adds practicality to the outdoor space. At the front of the house, ample off-road parking ensures convenience for multiple vehicles. Herne Bay itself is a charming coastal town renowned for its friendly community atmosphere and beautiful seaside. With excellent transport links and a variety of recreational options, including the nearby Herne Bay Memorial Park, this location provides an ideal setting for both family life and leisurely pursuits. This property on Albany Drive represents a rare opportunity to acquire a modern, spacious home in a sought-after location, making it a perfect choice for those seeking a combination of contemporary living and convenience. LEASE We understand from the seller(s) the lease is for 999 years from 1919. We understand from the seller(s) the ground rent is Peppercorn and the maintenance is No Maintenance Charges.

WHAT TO DO IF YOU HAVE A PROPERTY TO SELL If you're interested in buying a property and have one to sell, don't worry - we're here to help! Our estate agents can provide you with a free property valuation and assist you throughout the selling process. We understand that selling a property can be stressful, which is why we offer this service to make things easier for you. We're committed to providing you with a seamless buying and selling experience, and we're always here to help. So why wait? Get in touch with us today and let us guide you through the process! WHAT TO DO NEXT To view our properties, please book an appointment beforehand. If you make an acceptable offer, please note that we require some documents from you before taking the property off the market. These include a copy of your identification, a copy of your mortgage agreement in principle, proof of deposit, and proof of cash if you're purchasing without a mortgage. If you're using funds from a related sale, we'll need the name of your selling agent, and the name of your solicitor, who will act for you in the purchase. Once we have all these, we can remove the property from the market. NOTE Please note that sizes and dimensions provided are approximate and may vary from the actual measurements. NOT READING THIS ON THE AGENTS WEBSITE? Don't miss out on the complete experience of this property. See all it has to offer by clicking the 'More photos and 3D tour from this Agent' link below.

Agent Details

David Clarke Estate Agents, Herne Bay

01227 362248

Next Steps?

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