- LANDLORDS ONLY +
- TENANTED ON AST +
- GROUND FLOOR APARTMENT +
- POPULAR LOCATION +
- 2 DOUBLE BEDROOMS +
- EXCELLENT LOCATION +
ATTENTION LANDLORD/CASH BUYERS INVESTMENT OPPORTUNITY TENANTED GROUND FLOOR APARTMENT
This property is only available to landlords and is being sold with a tenant in situ on an assured shorthold tenancy.
McDermott & co offer to the market this two bedroomed ground floor apartment set in a highly convenient area of Failsworth. The accommodation briefly comprises of: Hallway with access to two double bedrooms one with built in wardrobes and french doors to balcony, three piece bathroom with shower over bath, lounge/diner with balcony with views over the Rochdale canal, a fitted kitchen is accessed from lounge. Complete with electric panel heating and UPVC double glazing throughout. Externally there is allocated parking for one car with a secure gated main entrance into the development. In close to proximity to local supermarkets and amenities, 5 minute walk to Oldham Road where bus links can be accessed to and from Manchester City Centre.
Entrance Hallway - Carpeted, storage cupboard, electric panel heater, access to all rooms.
Lounge/Diner - Carpeted, juliet balcony with double doors, electric panel heater, electric fire feature, opening into kitchen, neutral decor, outside balcony seating area
Kitchen - Window, vinyl flooring, fitted wall and base units in beech effect with complimentary worktops, integrated single oven, extractor over, ceramic electric hob, tiled splashback, inset stainless steel sink with mixer tap and drainer, cupboard for storage, neutral decor.
Bedroom 1 - Juliette balcony, blinds, carpeted, two built in wardrobe space, electric heat panel, neutral decor, outside balcony seating area
Bedroom 2 - Window, blinds, carpeted, built in wardrobe space, electric heat panel, neutral decor.
Bathroom - Three piece bathroom suite in white, shower over bath, WC, sink basin, partly tiled walls, vinyl flooring, heated chrome towel rail.
Externally - Gated secured entrance leading into carpark/forecourt. Allocated parking space.
Tenure - Vendor to confirm the tenure of the property.
Stamp Duty - You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland.
You pay the tax when you:
• buy a freehold property
• buy a new or existing leasehold
• are transferred land or property in exchange for payment, for example you take on a mortgage
The threshold is where SDLT starts to apply. If you buy a property for less than the threshold, there’s no SDLT to pay.
The current SDLT threshold for residential properties is £125,000.
The threshold for non-residential land and properties is £150,000.
Thresholds
Up to £125,000 – 0%
£125,000 (the portion from £125,001 to £250,000) – 2%
£625,000 (the portion from £250,001 to £935,000) – 5%
Example
In October 2021 you buy a house for £295,000. The SDLT you owe will be calculated as follows:-
0% on the first £125,000 = £0
2% on the next £125,000 = £2,500
5% on the final £45,000 = £2,250
Total SDLT = £4,750
First-time buyers:
From 1 July 2021, you’ll get a discount (relief) that means you’ll pay less or no tax if both the following apply:
• you, and anyone else you’re buying with, are first-time buyers
• the purchase price is £500,000 or less
You’ll also be eligible for this discount if you bought your first home before 8 July 2020.
How much you pay depends on whether the land or property is residential use or non-residential or mixed-use.
If you’re buying a residential property there are different rates of SDLT if:
• you’re a first-time buyer
• you already own a property and you’re buying an additional property
• you’re not a UK resident
You can use HM Revenue and Customs’ (HMRC) Stamp Duty Land Tax calculator to work out how much tax you’ll pay.
You may be able to reduce the amount of tax you pay by claiming relief, such as if you’re a first-time buyer or purchasing more than one property (‘multiple dwellings’).