Academy Court - Warrington

Stylish Apartments at Bargain Prices

With Little Money Down

Highlights

Priced well below comparable properties

Tasteful conversion, retaining original features and charm

Parking included

Modern luxury with an extremely high standard of finish

All white goods included

No stamp duty

89% loan to Value mortgages available (subject to status)

A discount of 7% has been negotiated off already favourable prices

Completes November 2005

Academy Court

Academy Court is a development of luxury one and two bedroom apartments within a remodeled and extended building with character and charm. The developers have made a point of retaining many original features, while incorporating all the features expected in a modern luxury city-centre apartment.

Location and Amenities

Warrington town centre, with its shopping, business and leisure facilities are within walking distance, as is the Golden Square shopping centre. Sited on Wilson Patten Street in WA1, the apartments are well-placed for access to local trunk routes and the motorway system. There are also frequent rail departures to both Manchester and Liverpool from nearby Bank Quay railway station.

View Map

Financial Highlights

Comparable properties on neighbouring streets are being offered for resale at significantly higher prices, and in some cases lack amenities such as parking. Rental demand in the area is high, with one-bedroom apartments fetching £475 p.c.m. and two-bedroom apartments achieving between £550 and £600 p.c.m., dependent on size and features. Academy Court not only offers a good margin of return, but also the prospect of immediate capital gains.

General Specification

Kitchen

Quality fitted kitchen
Integrated fridge/freezer, dishwasher, washing machine, microwave oven, hob and extractor hood (Some smaller apartments have no dishwasher)
One and a half bowl sink.

Central Heating

Full gas central heating system comprising of a conventional radiator system with individual thermostatic valves and a Worcester Combi Boiler.

Sanitary Ware

White sanitary ware
Chrome effect fittings
Co-ordinating bath/shower panel and toilet seats.
Thermostatically controlled mixer valve shower in bathroom

Electrical

Intruder alarm with PIR’s control panel and external sounder.
Mains-operated smoke detectors and mains operated doorbell.
TV and BT point to lounge.

Tiling

Full tiling to shower cubicles and half tiling to wet walls in the main bathroom.
Tiling between wall units and worktops in the kitchen.

Internal

Skimmed ceilings throughout with coving to lounge, kitchen and hall painted white.
Veneered doors with chrome effect door furniture.
Lockable UPVC windows with white furniture.
All internal woodwork painted white gloss and walls emulsion painted in magnolia.

External

White UPVC soffits, fascias and barge boards.
Hardwood front door with door entry system.
Sett paving to front entrance area with railings defining frontage to pavement.
Tar macadam and soft planting to rear car park.

Floor Plans

To view the floor plans, please follow the links

Reservation Procedure

£ 1000 reservation fee
An arrangement fee of 1% of the discounted price must be lodged in our client account on reservation.
5% deposit is due on exchange of contracts
The balance is due on completion.

Availability and Price

Apartment Number	Location	Type	Price
1	Ground - Front	1 Bedroom	£95,000
2	Ground - Rear	1 Bedroom	£90,000
3	1st Floor - Front	2 Bedroom	£110,000
4	1st Floor - Rear	1 Bedroom	£95,000
5	2nd Floor - Front	2 Bedroom	£117,500
6	2nd Floor - Rear	1 Bedroom	£97,500
7	Ground - Rear	1 Bedroom	£95,000
8	Ground - Front	1 Bedroom	£90,000
9	1st Floor - Front	2 Bedroom	Reserved
10	1st Floor - Rear	1 Bedroom	Reserved
11	2nd Floor- Front	2 Bedroom	£125,000
12	2nd Floor- Front	2 Bed Duplex	Reserved

We have negotiated a 7% discount off the above prices!

Examples of costs and returns

One-bedroom Apartment
Market value	£95,000
Actual price paid	£88,350	List price less 7%
Mortgage raised	£84,550	89% Loan-to-value
Deposit required	£3,800
Legal expenses	£500
Broker fee	£840
Arrangement fee	£840
Reservation fee	£1,000	Deducted from purchase price
Total outlay	£7,028
Anticipated rental income	£475	Per calendar month
Monthly mortgage repayments	£352	Based on 5% interest

Two-bedroom Apartment
Market value	£117,500
Actual price paid	£109,275	List price less 7%
Mortgage raised	£104,575	89% Loan-to-value
Deposit required	£4,700
Legal expenses	£500
Broker fee	£1,040
Arrangement fee	£1,090
Reservation fee	£1,000	Deducted from purchase price
Total outlay	£8,337
Anticipated rental income	£600	Per calendar month
Monthly mortgage repayments	£435	Based on 5% interest

When we consider the actual outlay we are paying for these apartments and the returns, this deal is truly outstanding. True investors will appreciate its merit.