Flat 6, 5 St Aubyns Gardens, Hove BN3 2TA

5staf1small ONE BEDROOM THIRD FLOOR CONVERTED FLAT WITH SEA VIEWS
£167,950 LEASEHOLD

A newly decorated converted third floor flat with small South facing sun trap balcony. The flat benefits from gas central heating, fantastic sea views, modern bathroom & kitchen. Lounge & bedroom both have period fireplaces. Ideal investment property, would be fantastic for a holiday home or rented out.
Initial outlay required: £54,995

SOLD

Location: St Aubyns Gardens forms part of the Kingsway and is opposite the King Alfred Leisure Centre (due for modernisation /replacement when funding available). One minute walk to the sea front with its promenades, bathing beaches, lawns, bowling greens. A ten minute walk to Hove mainline line station with its fast trains to London and Gatwick. A fast and frequent bus service passes the property to the city centre. The area is well served with shops and restaurants.

Description: A third floor converted flat with stunning sea views, good sized rooms and period features. An ideal property for letting with the potential for asset growth.

Approximate Area: 472 square feet

Entrance: Radiator, Door entryphone system

Lounge: 16' x 12'9 Superb original feature ornate fireplace with marble surround. Radiator. Ceiling coving. Door to kitchen. Two South facing sash windows providing fantastic sea views and give access to small south facing balcony.

Kitchen: 8'7 x 6'1 Range of modern fitments comprising stainless steel drainer sink unit inset into worktops. Range of base cupboards and drawers. Fitted oven with four ring gas hob above. Space and plumbing for washing machine, space for upright fridge freezer. Range of wall units. Wall mounted boiler (not tested), radiator. South facing sash windows with sea views.

Bedroom: 15'2 x 12'9 Original feature fireplace with marble surround, Fitted wardrobe with hanging rail and shelf above, picture rail, radiator, Sash window overlooking gardens at rear.

Bathroom: Modern white suite with panelled bath with mixer tap and shower attachment with Triton power shower and folding glass shower screen. Low level wc, pedestal wash basin. Tiled floor and walls. Radiator.

Outside: Small South facing balcony.

Outgoings:

Lease: 115 year lease
Maintenance: £900 pa
Ground Rent: £100 pa

Recommended Update: Blinds, Appliances

A professional electrical survey may reveal work not covered by the update. It is recommended that an electrical survey is carried in additon to the valuation survey at a cost of GBP 180.00 (inclusive of VAT) The gas boiler also will require a gas safety check.

These details are produced in good faith but are set out as a guide only and do not constitute any form of contract nor any statement contained therein to be representation or warranty. Any intended purchasers must satisfy themselves by inspection or under advice of their solicitor particularly in context of any approved plans for other on site or nearby development.

FINANCIAL FORECAST: FLAT 6, 5 ST AUBYNS GARDENS, HOVE BN3 2TA
Financial Forecast Guide

Asking Price	£167,950

Set Up Costs
Solicitors Fees	£645	incl VAT excl disbursements
Research Fee	£1,500

Purchase Costs
Assumed Purchase Price	£165,000
Estimated Update	£1,700	incl 10% supervision fee
Stamp Duty	£1650
TOTAL	£168,350

Estimated Rental Income
Rent per week	£174
Rent per month	£754
Rent per year	£9,048

Owner's Annual Operating Costs
Rental Agent's Fees	£1,561	@ 15% plus VAT
Ground Rent	£100	per annum
Maintenance Charge	£900	per annum
TOTAL	£2,561	per annum

Summary
Gross Rent Per Year	£9,048
Annual Operating Costs	£2,561
Nett Cash In Hand pa	£6,487
Nett Cash In Hand pm	£566

Mortgage - Assuming 70% Loan	£115,500

Total Cash Outlay	£54,995

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