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Iliffe Close, Reading, RG1

Offers Over £230,000Leasehold

211

Key Information

Tenure:Leasehold
Service charge:£1,704 per year
Ground rent:£200 per year
Time remaining on lease:977 years
Council tax band:C

Key Features

Excellent central location close to the Oracle Shopping Centre & Reading Station
Third Floor apartment
Residents undercroft parking
Lift access on all floors
Kitchen with appliances inc full size dishwasher
Leasehold 979 years remaining
Investment opportunity

Description

We are delighted to bring to the market, this two double bedroom apartment, which offers a different layout to most in the development thanks to its unique position in the building, on the top floor outer edge of the development meaning it benefits from no one above and no one to the side.

Comprising living/dining room, open plan kitchen with appliances, two double bedrooms with Velux windows meaning more wall space for furniture in both rooms, large bathroom with shower cubicle and bath, walk-in storage cupboard & additional utility cupboard, gas central heating & on-demand hot water via combi boiler and double glazed windows throughout. The main living and bedroom areas are carpeted & the kitchen and bathroom have ceramic tiled flooring.

Lease details: 999 Years from 2003 - 977 years remaining
Current Services Charges: £1740.08 annually payable at bi-annual intervals
Ground Rent: £200 per annum, £100 payable in Mar & Sep each year

Investment Information
Current Rent: £1350.00 (current gross yield of 6.89%)
Tenants have a contract until March 2026 (mutual 2 month break clause available from June 2025)

Arrange Viewing

Property Calculators

Mortgage

Estimated Monthly Mortgage Payment:
£1,151 /mo.25 Years, 4.5% Interest
Loan
£207,000
Total Repay
£345,172

Stamp Duty

You’ll have to pay the stamp duty of:
£2,100
0% up to £125,000
2% from £125,000 to £230,000
Your effective stamp duty rate is 0.91%
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