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Flat 4, 8 Granville Road Hove East Sussex BN3 1TG Print E-mail

8granvilleroadsmall.jpgONE BEDROOM FIRST FLOOR FLAT
£154,950 LEASEHOLD

A first floor, one bedroom flat forming part of a double fronted period property.  Very popular residential location close to Brighton Station and local amenities.  Excellent rental potential.
Initial outlay required: £43,883

SOLD

Location: Situated in a sought after location with Brighton Station within walking distance and local buses providing regular services throughout the city and beyond.  A good selection of shops and restaurants can be found nearby at Seven Dials. 

Description: A one double bedroom first floor converted flat within a double fronted period building.  This property benefits from gas fired central heating.  An ideal investment in a great location. 

Approximate Area: 400 square feet

Entrance: Communal entrance with stairs leading up to first floor.  Hallway with hanging space for coats, airing cupboard with storgage space.

Lounge: 14'1 x 10'2  Light, airy south facing room with neutral carpet.  Built in bookshelves with double cupboards below to both sides of chimney breast.  Double radiator, tv point, telephone point.

Kitchen: 9'6 x 8'1  Range of beech effect floor and eye level cupboards and drawers.  Roll edge worktop with inset stainless steel single bowl unit with brushed chrome mixer tap and single drainer, built in double oven, inset 4 ring electric hob.  Space and plumbing for washing machine, space for fridge, wall mounted gas fired central heating boiler.  Tiled splash back, beech laminate floor, window with south aspect to rear.

Bedroom: 11'8 x 13'9  Stripped natural wood box sash window with aspect to the front.  Neutral carpet, double radiator and additional single radiator.

Bathroom: White suite comprising timber paneled bath with Victorian style mixer taps and shower attachment, low level wc, pedestal wash hand basin with Victorian style hot and cold taps.  Part tiled walls - beige sandstone effect, tiled floor - glazed terracotta.  Extractor fan.

Outgoings:

Lease: 115 years remaining
Maintenance: £940 pa
Ground Rent: £20 pa

Recommended Update: Redecoration, new blinds, new kitchen appliances, new hob, new kitchen flooring.

A professional electrical survey may reveal work not covered by the update.

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 4, 8 Granville Road Hove East Sussex BN3 1TG
Financial Forecast Guide

Asking Price £154,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £154,950  
Estimated Update £3,000 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £157,950  
 
Estimated Rental Income
Rent per week £146  
Rent per month £633  
Rent per year £7,592  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,310 @ 15% plus VAT
Ground Rent £20 per annum
Maintenance Charge £940 per annum
TOTAL £2,270 per annum
 
Summary
Gross Rent Per Year £7,592  
Annual Operating Costs £2,270  
Nett Cash In Hand pa £5,322  
Nett Cash In Hand pm £444  
 
Mortgage - Assuming 75% Loan £116,213  
 
Total Cash Outlay £43,883  
 
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