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Sussex Terrace Brighton Print E-mail

sussexterracesmall.jpgONE BEDROOM GROUND FLOOR FLAT WITH GARDEN
£155,000 SHARE OF FREEHOLD

A one bedroom flat occupying the entire ground floor of a period semi-detached property.
This centrally located flat benefits from a private, secluded patio garden with mature planting.
Initial outlay required: £44,395

SOLD

Location: Sussex Terrace is a convenient central location - close to both Brighton city centre and Kemp Town.  This property is also just a short walk away from the lively promenades of Brighton seafront.  Brighton mainline station provides fast, regular services to London and the local buses provide an excellent service within the city and beyond.

Description:  A spacious ground floor, one bedroom converted flat.  This property benefits from gas central heating and a delightful garden.  An ideal rental property.

Approximate Area: 500 square feet

Entrance: Access via wrought iron gates leading to front door with glass panel. 
Entrance hallway: 14'7 x 3'5 Understairs storage, airing cupboard with shelving housing immersion heater.  Radiator, central heating thermostat control, power point. 
Entrance lobby cupboard: 7'8 x 2'11.

Lounge: 16'4 x 10'3  Varnished beam effect ceiling and walls, coved ceiling and central light fitting on dimmer switch control.  Double glazed windows to front.  Double radiator, gas fire with marble effect back and dark wood surround.  Fitted shelf.  Neutral carpet.

Kitchen: 9' x 7'8  Range of white laminate units with chrome handles at eye and base level.  White roll top work surface with two inset round sink units with mixer tap, tiled splashback.  Electric 'Whirlpool' oven, 4 ring gas hob with extractor over.  Space and plumbing for washing machine.  Two double glazed windows each with opening panels to the side.

Inner Hallway:  13'3 x 2'9

Bedroom: 14' x 11'  Two double glazed windows overlooking patio garden.  Double radiator.

Bathroom: White suite comprising panelled bath, low level wc, pedestal hand wash basin.  Ceiling extractor fan.  Black and white tiled effect flooring.

Outside: Patio Garden  20'8 x 21'2  Attractive, secluded garden, laid to paving with three gravelled flower beds.  Fully enclosed - part brick wall and part fence

Outgoings:

Lease: 999 years - Share of Freehold
Maintenance: £50% of any work required
Ground Rent: £0

Recommended Update:  Redecoration, blinds, new kitchen appliances, new bedroom carpet.

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: SUSSEX TERRACE, BRIGHTON
Financial Forecast Guide

Asking Price £155,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £155,000  
Estimated Update £3,500 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £158,500  
 
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 £0 per annum
Maintenance Charge £800 per annum - TBC
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 £116,250  
 
Total Cash Outlay £44,395  
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