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Seller Type: Agency, Property Type: House, Number Of Bedrooms: 3

INVESTMENT OPPORTUNITY – TWO ready to go Holiday lets
Market Place – Penygroes (edge of Snowdonia / Eyri)
2 x 2 bed Semi-detached Serviced Accommodation

Financial Breakdown
Purchase price: £250,000
Deposit: £62,500
Legals estimate - £1,950
Stamp duty - £7,500
Survey - £650.00
Agency fee - 2% GDV
Mortgage arrangement fee @ 3% (opt) - £5,625

Property is fully furnished
Total Cost: £272,689.00
Total Cash Outlay: £85,189.00 (if leveraging mortgage)

Projected Rental Income:
At the average £120 & £140 daily rate (Range of £90-229),
Net of bills (water, gas, electricity, premium council tax, insurances, maintenance & OTA booking fees @18%) = £25,224
Plus Management: £781 per month (15% fully managed @ 71% occupancy)

NET RETURN ON INVESTMENT AFTER REFINANCE: 43.6%
Based on a commercial refinance valuation of £320,000.00, we can release up to £52,000.00 by re-mortgaging after 12 months. At this point, you will only have £32,689.00 left in the deal and after deducting the new increased mortgage rate, your net income will be around £14,242.26 per annum giving you a net return on the cash you invested (ROCE) of 43.6%. This will increase significantly once the properties have met the local council's qualifying thresholds for business rates which is why they are being offered at a discounted rate.
It's worth noting the above figures are very conservative and based on averages, the current owner has already had around the values predicted above within 6 months!

THE PROPERTY

• Beautifully finished to a very high standard
• Already setup and earning money
• A great opportunity
• Local amenities of takeaways and convenience stores nearby
• Recently finished
• Currently dog friendly
• 2 websites included in the sale for direct bookings
• Will be supplied fully compliant with Local Council
• "The perfect base for exploring Caernarfon, Snowdonia (Eryri) or the beautiful beaches and towns of the Llyn Peninsula. This stylishly furnished cottage is sure to delight and accommodates up to 4 people in 2 bedrooms as well as up to 2 well behaved dogs."
• "Enjoy a peaceful stay in this dog friendly hidden retreat conveniently situated in the centre of the village of Penygroes, Caernarfon. With a luxurious king size bedroom and a dedicated study room this makes the perfect destination for work, play or a mixture of both."

LOCATION
• Situated just off the main North West Wales Coast road
• An ideal location to explore or work in the North West Wales area

Reasons to visit the area:
• Portmerion
• Snowdonia
• Abersoch beach
• Caernarfon castle
• Pant Du Vineyard & Orchard
• Parc Glynllifon