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12 Montpelier Street Brighton BN1 3DJ Print E-mail

12-montpelier-street-small.jpgONE BEDROOM FIRST FLOOR FLAT
£139,950 SHARE OF FREEHOLD

A bright, one bedroom, first floor flat within a period building.  The property benefits from a Share of the Freehold.  This popular central location is particularly convenient for all local amenities - ideal for rental.
Initial outlay required: £44,133

SOLD

Location: A central but quiet location.  The bustling city centre with its excellent shopping facilities, cosmopolitan bars and restaurants is a short stroll away, as is Brighton's vibrant seafont.  Brighton Station is within easy reach and local buses provide regular services throughout Brighton and Hove and beyond.  An ideal rental property.

Description: A one bedroom, first floor flat which benefits from a Share of the Freehold.  The property occupies the entire first floor of a bow fronted, Grade II Listed building.

Approximate Area: 400 square feet

Entrance: Front door leading to split level entrance hall with security door entry phone system, wall mounted thermostat control and single panel radiator.

Lounge: 16'5 x 15'1  East facing bow window to the front with oblique sea view, wooden fire surround with quarry tiled hearth.  Double panel radiator, television point, telephone point, cable point.

Kitchen: 8'3 x 7'  New kitchen required.  Single panel radiator, wall mounted combination gas fired boiler and large bay window to the rear.

Bedroom: 11'7 x 7'9   Sash window with oblique sea view, double panelled radiator.

Bathroom: Pine clad panelled bath with Aquatronic electric shower over.  Pedestal hand basin, low level WC.  Fully tiled walls, extractor fan.

Outgoings:

Lease: Share of Freehold
Maintenance: £800 pa (approx - 1/3 contribution to all work required)
Ground Rent: n/a

Recommended Update: New kitchen and appliances, redecoration, new blinds, new carpets and bathroom vinyl.

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)

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: 12 Montpelier Street Brighton BN1 3DJ
Financial Forecast Guide

Asking Price £139,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £139,950  
Estimated Update £7,000 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £146,950  
 
Estimated Rental Income
Rent per week £150  
Rent per month £650  
Rent per year £7,800  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,346 @ 15% plus VAT
Ground Rent nil  
Maintenance Charge £800 per annum   (approximate)
TOTAL £2,146 per annum
 
Summary
Gross Rent Per Year £7,800  
Annual Operating Costs £2,146  
Nett Cash In Hand pa £5,655  
Nett Cash In Hand pm £471  
 
Mortgage - Assuming 75% Loan £104,963  
 
Total Cash Outlay £44,133  
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